Why Set Up Business in Ireland?
Ireland may be a small country for setting up business in Ireland with a population of around 4.6 Million, but its strong economy has earned the country a place as the ideal gateway to European Union. Big global players like Microsoft, Intel, Google, Facebook have invested in Ireland due to its attractive investment climate and good business environment.
Here are reasons why you should setup a business in Ireland.
Low tax rates
Ireland has one of the lowest tax rates on this planet. More than 1000 multinational companies setting up business in Ireland have strategically chosen Ireland as their European base due to its low corporation tax rate. The 12.5% corporate tax rate is on the lowest tax rates in the world. A 25% tax credit against R&D (research and development) costs is one of the tax benefits that have attracted many foreign investors. Also, the comprehensive double taxation agreements between Ireland and 72 countries, has contributed to the growing number of foreign investments in the nation.
Highly educated workforce
As the only English speaking country in the Eurozone, Ireland has one of the best higher education systems in the world with a highly skilled workforce. Ireland has always been regarded as a centre of excellence for education. Ireland’s ability to produce a skilled workforce as well as its young demographic (with over 50% of our population under the age of 35) have contributed to its top ranking as the country for the availability of skilled labour.
Springboard to the European Union
Ireland is a member of the European Union and the Eurozone. Other than the strong economy of EU, there are benefits of EU and Eurozone, which include:
- duty-free access to the world’s most valuable EU market
- companies in the Eurozone are not affected by currency fluctuations.
- European citizens can move freely within the EU to live and work
Quality of Life
Ireland is a safe country to live in, with its well-known friendliness and welcoming atmosphere. Its proximity to Europe, good weather, affordable living cost are the reasons why people choose to work and live in Ireland.
Indeed, Ireland offers many benefits and opportunities to people who are looking to setup overseas business within the European Union. Many of the world’s most successful companies have chosen to base in Ireland because of the country’s pro-business environment. Ireland ‘s positive image as an excellent corporate domicile and on-shore jurisdiction, has positioned Ireland as one of the hotspots in multinational company setup. For more information and guidance regarding setting up business in Ireland, contact RM & CO, [email protected].