Open a Jewelry Business in Ireland
Open a Jewelry Business in IrelandUpdated on Wednesday 03rd October 2018
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The jewelry sector in Ireland is comprised of jewelry products, watches and accessories, an industry which represents approximately 1,58% of the total Irish retail market. The annual growth rate of the sector is estimated at 3,27% by 2020, and the market is expected to reach EUR 0,5 billion by the same year.
Why set up an online jewelry business in Ireland?
Due to the fact that the online environment developed at a fast pace in the last years and considering that Ireland is one of the most developed IT markets at the level of the European Union (EU), with a connected consumer market, it would be highly advisable to open a company in the jewelry industry that also operates through a website.
The best way to conduct an online jewelry business is by opening an online store, which allows customers across the country/world to conclude transactions for the jewelry products sold by the company, this being one of the most relevant advantages – addressing to a larger consumer market and not being confined to the market provided by the city in which the business carries its operations. Our team of Irish lawyers can advise businessmen on the main procedures for opening a website in Ireland.
What are the main requirements for jewelry manufacturers in Ireland?
Businessmen who manufacture jewelry products in Ireland that are created from precious metals such as gold or silver must comply with the standards imposed by the Dublin Castle Assay office, which verifies if the jewelry products are manufactured in accordance with the requirements imposed by the legislation, which can be presented by our law firm in Ireland. It is important to know the following:
- • gold, silver and platinum jewelry products have to be marked in accordance with the purity of the metals used;
- • for gold products the markings range in accordance with the karats of the product (ranging form 9 to 22 karats);
- • gold jewelry products that have the marking 990 or 999 designate the fact that the manufacturer used the highest quality gold;
- • the marking 999 can also be found on silver or platinum products and it designates the same characteristic - the product is made from the purest metal.
Businessmen are invited to contact our team of lawyers in Ireland for in-depth assistance on the registration of a jewelry business; our attorneys can also assist with advice on the business permits that can be need for this activity and may advise on the main regulations imposed when entering import-export activities related to this sector.