10 Reasons Why Ireland is a Great Place To Do Business


Hello everybody, 

Todays topic is 10 reasons why Ireland is a great place to do business 




Low corporation tax


One reason why many big tech companies come to Ireland it’s because of or lower rate of corporation tax which is set at 12.5%. This is very low compared to other European countries and would attract multinational companies to do business in Ireland.


Location


Ireland is a point where it is the first stop between America and Europe and is only one of two English speaking members in the euro zone. This lead to a lot of American companies setting up here that are trying to branch to Europe as a lot of leading tech companies come from America.


Workforce 


Ireland has a very skilled and educated workforce because of its education system, this would entice companies to set up in Ireland due to the amount of young and well-educated workforce available to choose from, especially in the tech department.


Technology 


Ireland are well advanced in technology compared to other countries. Ireland has had significant achievements in science and technology for a small country, still to this day investing money into technology and science which leads to large Multinationals choosing Ireland. Apple has decided to incest €850 million into a data centre in Co. Galway.


Economy 


Companies would be attracted to a growing economy. Irish economy is currently growing 2.5-3% each  year making it one of the fastest growing economies in Europe. The rate of inflation continues to trend below the EU average and a lot of money is still coming into the country from our exports.


Brexit


Brexit began to create new opportunities for Ireland as it led to a lot of companies moving from the U.K. to Ireland to still be able to avail of the benefits of the European Union. Companies such as Stripe and JP Morgan have relocated to Ireland.


Reputation 


In Ireland, we have a long history of serving as a base for overseas companies which would lead other companies to believe we have an attractive framework built for foreign businesses to set up and be successful in Ireland, with an already established financial center with up to 1,000 global firms  


Special Assignee Relief Programme


SARP provides relief from income tax on part of the income earned by employees who are assigned to work in Ireland. This can be an important factor for companies when initially establishing a base in Ireland as it facilitates key personnel in making the move to Ireland.


Government investment 


Every year the Irish government invests approximately €700 million into the research and development of such areas as software, data analytics, machine learning and telecoms. That’s a great boost for any multinational company in the tech industry to hear that the Irish government are willing to reinvest so much money into the development and enhancement of the industry. 

 

Tax Credits

 

Companies that carry out research and development in Ireland are rewarded with a 25% tax credit if specific requirements are met. These requirements must include an investigation or experiments in technology. The tax credit can even be claimed if the work carried out was in a different country. 

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