The focus on regulatory and compliance practices in Ireland has increased in recent years.
Corporate activity in Ireland is overseen by the Office of the Director of Corporate Enforcement (“ODCE”). The ODCE is charged with encouraging adherence to the requirements of the Companies Acts in order to improve compliance and bring to account those who disregard the law.
In addition to domestic oversight, EU and international regulatory developments also apply to business practices. However, Ireland still remains one of the best locations for ease of doing business and is ranked 15th by The World Bank ‘Ease of Doing Business’ index (2014) which measures and benchmarks regulations applying to domestic small to medium-size businesses.
The key areas of regulation and compliance to be considered by businesses are:
Beyond the broader legal and regulatory requirements that apply to all businesses there are areas of compliance specific to particular business sectors. It is advisable to implement legal and regulatory compliance by putting in place a structured approach which includes:
Call us for help and advice whether you’re a domestic or overseas company wishing to do business in Ireland.