Why Invest in Ireland?
Home to over 1,000 international companies, Ireland continues to be one of the most favoured global locations for investment.
Ireland has one of the most favourable tax regimes in the world attracting hundreds of foreign companies to the Emerald Isle. Ireland is also well known for its pro-business environment and young, well-educated, skilled workforce. Combining this with the reducing costs in property, rents, services, construction and labour, the availability of attractive business incentives and grants, and you can understand why investment into Ireland continues to thrive.
Ireland has attracted and continues to attract well-known global companies as well as emerging companies from a wide variety of sectors, including ICT, pharma and life sciences, financial services and more recently social media and online gaming.
In addition to manufacturing, some of the activities that are regularly conducted here include: sales and licensing, IP management, R&D, supply chain management, shared services, finance/treasury and headquarters/holding companies.
There are many reasons to invest in Ireland. From the favourable low tax regime and supportive environment, to the availability of well-educated workforce:
- Corporate tax rate of 12.5% and an extensive network of double taxation agreements.
- 25% Research & Development (R&D) Tax Credit.
- An Intellectual Property (IP) regime which provides a tax write-off for broadly defined IP acquisitions.
- An attractive holding company regime, including participation exemption for gains on disposals of most shares.
- An effective zero tax rate for foreign dividends (12.5% tax rate on qualifying foreign dividends, with flexible onshore pooling of foreign tax credits).
- An EU-approved stable tax regime, with access to extensive treaty network and EU Directives.
- Generous domestic law withholding tax exemptions.
Ireland is a small country that has re-invented itself over the last forty years through the combined force of sheer determination and growing, vibrant ambition. The country has the youngest workforce in Europe, and globally experienced senior management. Ireland’s highly-trained and highly-educated workforce has seized the opportunity provided by Foreign Direct Investment and continues to transform Ireland into a dynamic, knowledge based economy for the 21st century.
The IMD World Competitiveness Yearbook 2014 ranks Ireland 1st in the world for availability of skilled labour, flexibility and adaptability of workforce and attitudes towards globalisation.
1,153 overseas companies have chosen Ireland as their strategic location in Europe including:
- 9 out of 10 Global Software Companies
- 9 out of 10 of the World’s Largest Pharmaceutical Companies
- 10 out of 10 of the Born on the Internet Companies
- 15 out of 20 of the World’s Leading Financial Institutions
- 13 out of 15 of the World’s Largest Medical Devices Manufacturers
- 3 out of 6 Games Publishers
- 9 of the top 10 Aircraft Leasing companies
IMD World Competitiveness Yearbook 2014:
- Ireland is ranked 1st in the world for productivity and efficiency of companies and large corporations by international standards,
- 2nd in the world for business legislation – openness to foreign investors
- 1st in the world for investment incentives which are attractive to foreign investors.
- Ireland ranked #1 in its annual list of best countries for business.
IBM Global Location Trends Report 2014:
- Ireland is ranked 1st in the world for inward investment by quality and value and
- 2nd globally for the number of inward investment jobs per capita
- Dublin is one of the six global cities and one city-state that are hotbeds for start-ups and innovation, highlighting Dublin’s “Silicon Docks” area of the city, home to tech giants such as Google, Zynga, Facebook, LinkedIn and Twitter.
Finally, a PWC 2014 CEO Pulse survey shows that 92% of multinational companies rate their investment in Ireland a success.
Today, Ireland is focused on securing investment in three key areas:
- High Value Manufacturing,
- Global Services, and
- Research, Development & Innovation.
These activities are thriving across all the business sectors and significantly improve Ireland’s competitiveness.
Ireland has also built up a concentration of knowledge and expertise in:
- Life Sciences
- ICT Services
- Digital Media, and
- Customer Brands
IDA Ireland is Ireland’s inward investment promotion agency, responsible for the attraction and development of foreign investment in Ireland. The IDA works closely with companies to deliver effective solutions to start operations in Ireland and help grow businesses in Europe and beyond.
If you are interested to know more about investing in Ireland, please refer to www.idaireland.com or contact IDA’s ASEAN representative in Singapore: firstname.lastname@example.org.