What are the benefits of setting up a company in Ireland?
Company Bureau Formations
04 January, 2016
Ireland offers many benefits to entrepreneurs looking to set up corporate headquarters within the European Union. Many of the world's most successful companies have chosen Ireland as a destination for their business because of the country's pro-business environment. This includes leading technology companies such as Google and Facebook and leading pharmaceutical companies such as Actavis and Abbott. These and over 1,000 other multinational companies have done their research and decided that Ireland was the best destination to help grow their businesses.
Ireland has one of the most attractive tax regimes in Europe which is transparent and fully complies with the OECD guidelines. The country's corporation tax stands at 12.5% and applies to all Irish corporate trading profit. Under a new incentive recently introduced in the budget 2016, companies involved in Research and Development can avail of a corporation tax rate of 6.25% through this new "knowledge box" scheme. Ireland also has a continuously growing network of international tax treaties with full exchange of tax information.
Ireland is a member of the Eurozone which has been described as the largest and most affluent economy in the world according to the International Monetary Fund (IMF). Ireland itself has a small yet highly globalised economy. Last year, Ireland had the fastest growing economy in Europe and is currently set to be the fastest growing economy again in 2015 and 2016.
Ease of doing business
Ireland is considered one of the most attractive countries for international companies to access the European market. The 2015 World Bank "Doing Business" report has ranked Ireland within the top 10% of the 189 countries surveyed. This report analysis 11 different factors from each country with Ireland performing particularly well in terms of paying taxes (6th), protecting minority investors (8th), and resolving insolvency (20th). Since 2011 Ireland has introduced a large amount of structural reforms to help improve the ease of doing business.
Education & Skilled labour
Ireland has a strong focus on education and an education system that ranks in the top ten in the world. Over one million people in Ireland are in full time education. The country's investment in education and up skilling delivers continuous results and secures its reputation as a highly attractive location for business.
There has been a major investment in developing schemes to help boost Ireland's skills base in order to maximise employment opportunities. Ireland is the only English speaking country in the Eurozone and the ideal base from which to serve European markets. Over half a million Irish residents speak a foreign language fluently. 17% of the population is of international origin.
Forming a company in Ireland offers you all the advantages of having a business incorporated in the European Union accompanied by a low corporation tax rate and an ideal position for entering into the US or EU market. Company Bureau can have your company incorporated in Ireland in just 2-4 working days, assist you with tax registration and also assist you with opening a business bank account. For more information, please see our website www.companyformations.ie
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