Doing Business In Ireland
- What is the current business climate in your jurisdiction including major political, economic and/or legal activities on the horizon in your country that could have a big impact on businesses?
Ireland's resilient economy has made it one of the best-performing advanced economies in the world. Our underlying structural strengths and capital investment plans mean that we are well-positioned for future growth.
Of note is that some 1,700 multinationals call Ireland home. These multinationals make a positive contribution to Irish society and the economy through direct investment, capital expenditure, job creation, and payroll spending. Many of these multinationals have been in Ireland for a decade or more.
Ireland also consistently ranks among the top countries in the world in which to do business. This positions Ireland favorably for continued FDI growth.
See the response to question 4 below for the benefits that Ireland's legal and tax regimes bring to organizations that choose to do business in and through Ireland.
- From what countries do you see the most inbound investment? What about outbound?
The United States is the biggest investor in Ireland, accounting for over EUR 900 billion of our inward FDI positions.
- In what industries/sectors are you seeing the most opportunity for foreign investment?
We are seeing the most opportunity for foreign investment in the technology and life sciences sectors.
- What advantages and pitfalls should others know about doing business in your country?
Ireland is the location of choice for conducting many international business activities and why the world's largest multinationals have been attracted to Ireland. Advantages include:
- Established business economy, with the required physical and people infrastructure to enable organizations to successfully build substantive business operations.
- Competitive tax platform, including an attractive corporation tax rate and holding company regime, and an extensive double tax treaty network.
- Clear employment laws and access to a young, highly educated, English-speaking workforce.
- Credentials as a world-leading tech industry center, with an internationally respected data protection authority, making it a popular location to benefit from the GDPR's one-stop-shop.
- Membership in the EU and Eurozone provides easy access to EU markets and protections.
- Common law system, a modern legislative framework based on EU law and its independent and efficient court system.
- What is one cultural fact or custom about your country that others should know when doing business there?
Ireland has a pro-business outlook; we favor green lights over red tape. This is a position which successive governments have maintained.
Originally published Dec 3, 2023.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
