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An Introduction to Doing Business in Ireland

An Introduction to Doing Business in Ireland

Ireland has long been an attractive proposition for overseas businesses and today there are over 1,000 well-known and emerging global companies from a wide range business activities and sectors located in Ireland that attest to this.

The activities undertaken by these companies range from sales and licensing to research and development, manufacturing and supply chain management to headquarters and holding companies and anything in-between.

What makes Ireland attractive is a combination of factors underpinned by the positive approach of successive Irish Governments to attracting overseas business.

Through membership of the European Union (EU), Ireland offers foreign business access to a trading area that is second only to the US in terms of GDP.

This, combined with Ireland’s very favourable 12.5% corporate tax rate and a highly educated, skilled and flexible workforce, offers foreign companies a package that ticks all the boxes.

When considering Ireland as a location for businesses a useful checklist of factors to consider might be:

  1. What is the right company structure?
  2. What are the costs of setting up and maintaining the company in Ireland?
  3. What are the legal and regulatory requirements for the business’s services or products?
  4. What is the tax regime and what are its implications for the company and its employees?
  5. What are the expected salary levels and what are the mandatory or typical voluntary employee benefits?
  6. What are the local and national supports and potential funding available to businesses through public funding or other services?
  7. What resources does my company need – whether physical, infrastructural and technical, and (of course) the qualities required from the workforce, and how does Ireland fit those requirements?
  8. What are the advantages location in Ireland brings when considering my business’s access to key markets?

Over the coming weeks we’ll look at each those factors in more detail.  If, in the meantime you need help with setting up a business in Ireland, get in touch and we’ll be happy to help

Of course, another important factor to consider is the quality of life Ireland offers.  Well, Ireland performs pretty well according to the OECD Better Life Index – you can see the index here:

http://www.oecdbetterlifeindex.org/countries/ireland/

It rains a bit…but, as a wise man once said:

‘There’s no such thing as bad weather, only inappropriate clothing.’

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