Ireland is not only a country with a low corporate income tax. It is also a pro-business location that offers dynamism and flexibility and access to investment incentives and a qualified workforce.
Here are some of the main reasons why to start a business in Ireland. Investors can explore these advantages and other which may be circumstantial to a particular business field they are interested in.
Reasons to invest in Ireland
Ireland is home to many international companies and foreign investors who decide to open their headquarters here do not just come predominantly from one business field. The large array of types of companies that set up their operations in Ireland is an indicator of the pro-business culture that is beneficial to companies in multiple business fields. Financial services companies, software companies, medical technology companies and pharmaceutical companies operate from Dublin, Cork, and other Irish cities.
Ireland has a low tax rate, at only 12.5 percent, and the country has signed double tax treaties with more than 70 countries worldwide. What’s more, the country also offers a research and developed tax credit regime and a regime called the “knowledge development box”, which offers preferential tax rates on profits derived from qualifying sources. The Irish tax regime is one of the main reasons foreign investors choose to set up their business here but the reasons do not stop here. Good infrastructure and a highly trained and qualified workforce are two other good reasons.
How to open a business in Ireland
Having a pro-business regime and transparent policies for companies, Ireland is a location where investors find it easy to incorporate a new business. The business environment is maintained competitive and attractive through a set of laws and continuous development, focused on maintaining a good FDI environment.
The two main business forms are the private limited company and the public limited company, both of which need to be registered with the Companies Registration Office. Foreign businesses can also set up their operations in Ireland via a branch.
Asking for tailored legal services may be of use for foreign investors looking to start a business in Ireland. We recommend seeking professional aid before incorporating a legal entity.
