For those of you who are considering opening a business in Ireland here is why it is a good idea;
Ireland is one of the first choices of foreign investors when deciding to enter the Eurozone market. The country has a pro-business environment and attractive taxation rates. In addition, Ireland has signed double tax treaties with over 60 countries, including almost all major trading partners, creating more benefits for investors.
At 12.5%, Ireland offers the lowest corporation tax rate in Europe. Moreover, trading partners benefit from Ireland’s EU member status, meaning duty-free access and no currency fluctuations when trading within the Eurozone.
- Low Corporation Tax
- Pro-business environment
- Law jurisdiction similar to UK
- Additional Tax incentives
- Educated and productive workforce
- Natural extension to UK
- Growing Market place
- The only English-speaking EU member gateway into the European market
What you need to know:
Over €1 billion worth of goods and services traded each week between UK and Ireland.
Education & Skilled labour – 2nd (OECD Table of Labour Productivity)
Corporation Tax Rate – 12.5%
VAT – 23% (Reduced rates for certain products/services: 13.5%, 9%, 8%, 4%)
Higher personal tax versus UK (There are incentives for Expats & recent Budget started a slight shift to lower taxes)
First Company return filing after 6 months, then every 12 months
And of course Brexit opportunity: Ireland and the UK in numbers [Infographic]
If you need any help in starting or managing your business, please do not hesitate to contact EFM now for a free of charge consultation with an EFM expert