We could be biased, but yes… It is.
International businesses are constantly looking for cost-effective ways to allow their company to grow. Red tape, bureaucracy, cultural differences and poor choice of location, can all impact your ability to do business globally.
Ireland can help with that.
Having been doing business in Ireland ourselves for over 30 years, we thought we’d share some of our top reasons why Ireland is one of the best countries for ease of doing business.
Ireland’s economy is modern
Knowledge-intensive, with a concentration on services, science, high-tech sectors as well as finance, foodstuffs and animal products. The country is open to imports and exports, with a favourable regulatory environment.
Innovation
Ireland is a breeding ground for innovation, having ranked consistently in the top 20 of the Global Innovation Index in recent years.
Pro-business environment
The Irish government has consistently favoured corporate-friendly economic policies. The country supports new business and has a thriving start-up community.
There are almost 250,000 Small Medium and Enterprises active in Ireland.
Tax and Administration
Ireland has one of the most effective tax system in Europe. Not only is corporate tax 12.5%, but a bonus tax credit of 25% is available for businesses on qualifying R&D activities.
Further tax incentives exist for the acquisition of qualifying IP assets such as patents and registered designs, trademarks and brand names.
Culture
We welcome people. With plenty of traditions, customs and superstitions, you’ll find the people courteous and quick-witted as well as hard-working and forward-thinking.
Why do foreign companies come to Ireland?
It’s because we offer a very attractive proposition for international businesses.
– A young, educated and English-speaking workforce
– A proven track record in attracting inward investment
– A favourable tax regime
Ireland is a European hub to over 1,000 leading multinational companies including Google, Apple, HP and IBM.
So if you’re thinking about expanding your business internationally, Ireland could be the perfect place to start.
Why does Ireland attract foreign direct investment?
According to Enterprise.gov.ie, Ireland has an openness to global markets with “investment in education and skills, membership of the European Union, a competitive, consistent and transparent corporate tax regime and the creation of an environment where people want to live and work.”
Some of the key reasons for continued foreign investment include these investment incentives:
– A low 12.5% corporation tax rate on profits from trading activities means many businesses choose Ireland for their international operations.
– Generous research and development tax credits
– A wide range of state supports available to companies
– Access to the European Union market of 500 million consumers
Ireland was also ranked 24th on the World Bank “ease of doing business” index.
Thriving Economy
Ireland remains one of Europe’s fastest-growing economies in the EU in the past two years.
Tax Rate
Ireland’s corporate tax rate is one of the lowest tax rates in the world. The current corporation tax rate is 12.5%.
Workforce
Ireland has a highly skilled workforce that is both young and multinational.
We are a magnet for multinational businesses, lured by the country’s fast-growing, pro-business culture and well-educated and highly skilled English-speaking employees.
With the youngest population in Europe, Ireland boasts over 35,000 international students. The Irish government has established a number of initiatives to bring the country closer to being a global technology skills leader.
Ireland is a great place to build a working culture with stricter laws on discrimination, health and safety and contract law.
Location – Western Gateway to Europe
Ireland is the only English-speaking country in the Euro currency zone, giving access to 500 million EU consumers without exchange rate risk.
You’re looking at guaranteed access to the world’s largest trading opportunity; a real springboard for international trade in Europe and beyond.
Dublin, the Republic of Ireland’s capital city, is an urban metropolis with global reach and appeal. Dublin is becoming increasingly recognized as Europe’s “Silicon Valley,” especially because it is a popular destination for international students and international business graduates.
Society and culture
Irish Gaelic and English are the official languages of Ireland. For business purposes, English is the common language for communications, allowing you to deal with multiple markets across Europe.
Thinking of setting up an international business in Ireland?
A law firm with expertise in international markets can help you to grow your European operations.
Whether you are looking for guidance on regulatory and governance issues or contracts, due diligence, and company formations. Our team of experienced partners is on hand to help.
