Betting from a company registered in Ireland

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roscoe1018
Posts: 3
Joined: Mon Jul 13, 2020 3:37 pm

Hello,

I live in a country where Betfair trading isn't allowed, but backtests show my strategy could generate some money to make a living out of it. So, I need to trade through Betfair in a legal way.
I could register a company in the UK, but I would need to be a resident there. Unfortunately, it's not possible at the moment. It seems I can register a company in Ireland, without being a resident there.

Does anybody have some experience to share about trading through companies and do you think having one in Ireland is a good idea ?
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Archery1969
Posts: 3216
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

roscoe1018 wrote: ↑
Mon Jul 13, 2020 6:37 pm
 Hello,

I live in a country where Betfair trading isn't allowed, but backtests show my strategy could generate some money to make a living out of it. So, I need to trade through Betfair in a legal way.
I could register a company in the UK, but I would need to be a resident there. Unfortunately, it's not possible at the moment. It seems I can register a company in Ireland, without being a resident there.

Does anybody have some experience to share about trading through companies and do you think having one in Ireland is a good idea ?
Wont trading through a registered company cause you to have to pay company tax ?
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roscoe1018
Posts: 3
Joined: Mon Jul 13, 2020 3:37 pm

Probably, but I can't trade from where I live. I'd rather pay taxes and make a living out of my trading strategies than not trading at all.
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johnsheppard
Posts: 284
Joined: Mon Feb 04, 2019 6:00 am
Location: Cairns Australia

Maybe you could get friendly with a lady that resides in the UK and come to some form of mutual agreement? Marriage even?

Ok ok, now I realise that's as stupid as it sounds...it'd be cheaper to pay the taxes :)
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Archery1969
Posts: 3216
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

johnsheppard wrote: ↑
Mon Jul 13, 2020 10:02 pm
 Maybe you could get friendly with a lady that resides in the UK and come to some form of mutual agreement? Marriage even?

Ok ok, now I realise that's as stupid as it sounds...it'd be cheaper to pay the taxes :)
:lol:
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

The last thing we need is the taxman considering our activities as being the sort of thing that's done by legitimate companies. :roll:

If Betfair let you register as a company rather than as an individual it would set a tricky precedent, unless you are actually a company and can prove your use of Betfair is just a part of some other taxable operation like being a bookmaker.

Setting up a fake company as a front for a gambling operation from a banned country isn't something I'd be encouraging. The industry is under enough scutiny as it is.
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roscoe1018
Posts: 3
Joined: Mon Jul 13, 2020 3:37 pm

It would be great if I could avoid registering a company, but become a UK resident is not an option, as I could live there for 6 month in a year. I would need to be a UK resident to start a company there.

Oh, forget about the lady in the UK. My wife would cut my balls and I still haven't made enough profit to get some new ones.
Last edited by roscoe1018 on Tue Jul 14, 2020 7:48 am, edited 1 time in total.
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spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

roscoe1018 wrote: ↑
Tue Jul 14, 2020 6:51 am
 It would be great if I could avoid registering a company, but become a UK resident is not an option, as I could live there for 6 month in a year.
Registering a company in UK isn't an option too, as I need to be a UK resident too
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