Ireland as a Base for European Business
- Introduction
- Irish Government’s Attitude To Foreign Direct Investment (FDI)
- Typical Trading Structures for Doing Business in Ireland
- Irish Tax Incentives Attracting Overseas Investment
- Banking & Finance in Ireland
- Ireland’s Intellectual Property Framework (IP)
- Other Factors
- Conclusion
Irish Government’s Attitude to Foreign Direct Investment (FDI)
Being a small Island of 4.4 million people Ireland is economically dependent on external investment.
Our government have shown in the past their commitment to their aim of securing FDI by various incentives.
Through the government sponsored body, Industrial Development Agency (IDA) they attract and develop Foreign Investment in Ireland.
The signs are that the current level of FDI still seems to be very healthy and even more importantly the level of world confidence in ‘Ireland inc.’ appears not to have abated the IDA’s success in attracting cutting edge Foreign Direct Investment to Ireland continues apace. US, European and Asia/Pacific companies demonstrate continued confidence in Ireland’s capability to house their overseas operations’. (source: IDA)
The success of IDA and others in securing FDI can be seen as a result of government’s various incentives. This year they have removed the requirement that each company must have an Irish resident director by widening this definition to EEA resident director (European Economic Area which includes EEC countries plus Norway, Liechtenstein and Iceland) and introduced a 0% corporate tax rate on companies with trading profits up to € 320,000 per annum provided they are new companies incorporated and started trading in 2009.
The Irish government also recognises the importance of small & medium sized enterprises (SME’s) and their contribution to job creation.
Whilst we are heavily reliant on the world economy, being a small country we can adapt quicker to political and economic changes than larger nations such as Germany, France & UK. This gives us much flexibility in changing our policy making and adapting to changing circumstances throughout Europe and further afield.
