Legal Paperwork for Internet Company (SaaS)?

throwaway1

Hi all,

Currently building some B2B Software as a Service products; users charged on a recurring monthly basis (tiered pricing, €25/mo, €50/mo, €100/mo, etc.)

Just have some quick questions:

I intend to incorporate a limited liability company to operate under.

• Am I right in saying I can have many different SaaS products running under the one limited company? (i.e. using it as an umbrella company. I understand this will however share the liability across all products.)
• In how much detail (if at all) does one have to define the purpose of their limited company when incorporating? The products are all web-based software, but for entirely different markets, so would this document need to be updated every time I add a new product? Or can we just say 'web-based software' and keep adding new products?
• If I have some existing SaaS products which were started in the last 12 months, can I still move these under the limited company when it's incorporated? (Was not of legal age to incorporate a company when these were started)
• I understand I need to register for VAT as yearly revenue will exceed the €37,500 threshold. However, is it true that I only need to charge VAT if the customer is also based in the Republic of Ireland?
• Does it take a specialised solicitor to proof-read documents such as Terms of Service (like Boards': http://www.boards.ie/terms/), Privay Policy, etc. or should it be safe to have any solicitor do it?
• Do I need to observe Ireland's data protection laws, even if data is hosted elsewhere? (My data centres are outside of the EEA, in the US)

I'm discussing all of this with my solicitors and accountant soon, but I was hoping to get some additional advice from this fine forum.

Huge thanks and appreciation to anybody who can help with any of the questions.

NumbrCrunchr

Hi throwaway
Good luck with the business, here are my comments IN CAPS

Am I right in saying I can have many different SaaS products running under the one limited company? (i.e. using it as an umbrella company. I understand this will however share the liability across all products.) YES
In how much detail (if at all) does one have to define the purpose of their limited company when incorporating? The products are all web-based software, but for entirely different markets, so would this document need to be updated every time I add a new product? Or can we just say 'web-based software' and keep adding new products? BEST ADVICE IS TO KEEP PRIMARY OBJECT IN MEMORANDUM BROAD ENOUGH E.G. DESIGN MANUFACTURE AND SALE OF WEB BASED SOFTWARE
If I have some existing SaaS products which were started in the last 12 months, can I still move these under the limited company when it's incorporated? (Was not of legal age to incorporate a company when these were started) SHOULD BE FINE
I understand I need to register for VAT as yearly revenue will exceed the €37,500 threshold. However, is it true that I only need to charge VAT if the customer is also based in the Republic of Ireland? VAT COVERS ALL OF EU THEREFORE YOU NEED TO CHARGE VAT. HOWEVER IF CUSTOMER IS VAT REGISTERED IN ANOTHER EU COUNTRY YOU CAN CHARGE THEM VAT EXEMPT
Does it take a specialised solicitor to proof-read documents such as Terms of Service (like Boards': http://www.boards.ie/terms/), Privay Policy, etc. or should it be safe to have any solicitor do it? QUESTION FOR YOUR SOLICITOR!
Do I need to observe Ireland's data protection laws, even if data is hosted elsewhere? (My data centres are outside of the EEA, in the US) NO EXPERT ON THIS

REGARDS
NUMBERCRUNCHER

throwaway1

NumbrCrunchr wrote: »

Hi throwaway
Good luck with the business, here are my comments IN CAPS

Am I right in saying I can have many different SaaS products running under the one limited company? (i.e. using it as an umbrella company. I understand this will however share the liability across all products.) YES
In how much detail (if at all) does one have to define the purpose of their limited company when incorporating? The products are all web-based software, but for entirely different markets, so would this document need to be updated every time I add a new product? Or can we just say 'web-based software' and keep adding new products? BEST ADVICE IS TO KEEP PRIMARY OBJECT IN MEMORANDUM BROAD ENOUGH E.G. DESIGN MANUFACTURE AND SALE OF WEB BASED SOFTWARE
If I have some existing SaaS products which were started in the last 12 months, can I still move these under the limited company when it's incorporated? (Was not of legal age to incorporate a company when these were started) SHOULD BE FINE
I understand I need to register for VAT as yearly revenue will exceed the €37,500 threshold. However, is it true that I only need to charge VAT if the customer is also based in the Republic of Ireland? VAT COVERS ALL OF EU THEREFORE YOU NEED TO CHARGE VAT. HOWEVER IF CUSTOMER IS VAT REGISTERED IN ANOTHER EU COUNTRY YOU CAN CHARGE THEM VAT EXEMPT
Does it take a specialised solicitor to proof-read documents such as Terms of Service (like Boards': http://www.boards.ie/terms/), Privay Policy, etc. or should it be safe to have any solicitor do it? QUESTION FOR YOUR SOLICITOR!
Do I need to observe Ireland's data protection laws, even if data is hosted elsewhere? (My data centres are outside of the EEA, in the US) NO EXPERT ON THIS

REGARDS
NUMBERCRUNCHER

Hi NumbrCrunchr, thanks for the replies, great help!

All the best.

Mr Moxie

Hi

Just to let you know that the Irish data protection laws are/have been changed.
It would be advisable to do a little research to make sure you are compliant.
My knowledge is limited, but I believe that having your data centre outside of Ireland may cause issues with compliance, although I may have this confused.

D