Why start a company in Ireland?

On the list of European countries to do business in, Ireland holds a special place. One of the important reasons investors choose it is taxation, as Ireland has one of the lowest corporate tax rates in the EU; however, there are also other motives that keep it high on the same list. Some of the most important are highlighted below.

The 12.5% corporate tax

Since mentioning taxation as one of the main benefits of starting a business in Ireland, investors should know that their companies would pay a 12.5% corporate levy on their profits, which is one of the lowest in the European Union. When taking into account the tax credits offered by the government as well, enterprises here enjoy a favourable fiscal environment, which enables companies to reinvest profits.

Ireland also has around 70 double tax treaties, which means investors from all over the world can benefit not only from a fair tax treatment, but also from reduced rates when it comes to dividend, interest, and royalties payments.

The attractive business environment

Ireland is very appealing when it comes to:

economic and political security and stability;
reduced business maintenance costs, which have been gradually lowered in the past few years;
low level of bureaucracy;
streamlined business incorporation procedures.

In respect to the enterprise registration process, it is one of the fastest in Europe, as it is possible to have the company up and running in one week. When factoring in the services provided by a reliable team of incorporation agents in Ireland, such as those from BridgeWest Ireland, the procedure can be carried out remotely, with the foreign entrepreneur coming to directly launch the business.

Variety of business forms

If there is one thing through which Ireland stands out among other EU countries is the possibility of registering a business form that suits any need. Here, investors can set up private limited and unlimited companies, as well as public limited entities that can be used for multiple purposes.

There is also the designated activity company, which is very useful, especially for those interested in international securitization.

Access to the entire EU market

Since mentioning foreign entrepreneurs, Ireland is especially attractive for non-EU investors seeking to gain access to a large consumer market. This means having the possibility of selling products or providing services to around half a million clients through one company.

Geographical location

Located in the northwestern part of Europe, Ireland offers entry to US and Canadian companies on the European market and the other way around: EU businesses can tap into the American and Canadian markets. This is also one of the main reasons why many IT giants have based their operations in Ireland, and from there, they service the entire European clientele.

Access to a skilled labour force

The Irish workforce is one of the most skilled and talented in the EU. Moreover, the country relies not only on national workers, but also on EU citizens who come to work here in some of the important sectors: IT, pharmaceutical, and medical. The fact that Ireland remainsone the few EU countries with an official English language attracts new people seeking employment opportunities year after year, so the talent pool here is always refreshed.

A great place for startups

Ireland is an ideal destination for those who want to create startups, as such businesses benefit from government support through dedicated agencies, as well as incubators, through which they can connect with other similar companies and contribute to the development of the startup culture here.

Ireland should be on the shortlist of every investor seeking a new jurisdiction to base a company in. With its favourable taxation system and quick registration procedures, the country has all the attributes a businessperson needs to be successful.

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