Investments in Ireland
Ireland is one of the world’s most attractive destinations for foreign businessmen if taking into consideration all the subsidiaries opened so far by large international corporations. In 2013 alone, Ireland registered about 170 new investments from FDI (foreign direct investment) companies.
Ireland is the only country successfully exiting the bailout programs and returning to financial sovereignty due to the investment programs the government implemented.
Among the benefits enterprisers will appreciate are the Irish corporate tax system that is currently one of the most advantageous both in Europe and in the world, the business environment and skilled English speaking workforce. Investors who are taking into consideration opening a company in Ireland can benefit from numerous incentives provided by the Irish authorities, available in the form of loans, grants or subsidies, on which our team of company registration representatives can offer in-depth information.
Below, investors can find out more details on the investment fields available in Ireland:
The information and communications technology industry in Ireland
The technology sector is one of the most attractive industries in Ireland mostly due to the collaboration between IBEC (Irish Business and Employers’ Confederation) and the ISA (Irish Software Association). The two agencies have worked together to develop a strategy to attract international corporations that have opened companies in Ireland.
The Irish ICT industry is considered one of the fastest growing industries in the world because of the skilled labor force, relatively low cost and great potential it offers to foreign investors. Our team of company formation agents in Ireland may provide relevant information referring to the quality of the Irish workforce, which is able to meet the current needs of the companies operating in the ICT industry.
Ireland is currently the second largest exporter of computer and IT services worldwide. Other than the workforce, the open economy and the taxation system has allowed Ireland to attract 8 of the 10 largest IT companies in the world that have set up subsidiaries and branch offices in Ireland. The IT&C industry in Ireland provides more than 50 billion euros per year from exports to the country’s economy.
According to the data provided by the Irish Development Authority (IDA), Ireland represents a global hub for ICT activities.
Investors should know that Ireland is the home of 9 out 10 top global software companies. At the same time, 9 out 10 American top companies operating in this field have chosen Ireland as their investment destination.
Businessmen interested in the procedure of Irish company formation can choose from numerous legal entities to represent their businesses in Ireland, following the new regulation provided under the Companies Act 2014. One of the most popular type of company is the limited company and businessmen interested in this business form are invited to read more details in this article on how to set up a limited company in Ireland.
However, it is important to know that such companies will need to obtain relevant business permits and licenses prescribed for the specific activities carried out by the company.
The pharmaceutical and chemical industry in Ireland
The pharmaceutical and chemical (PharmaChem) industry in Ireland accounts for the largest contributions deriving from the corporate tax to the country’s economy. For over 30 years now, the Irish pharmaceutical and chemical industry has been creating most of the jobs and provided most of platforms for investments in the country.
The PharmaChem industry comprises both local and foreign companies in Ireland. Currently, this industry account for over 20,000 employees in more than 100 Irish companies. Considering the new global environment that poses significant challenges, the government has created a very advantageous tax regime in order to attract key-players in the sector that would further reinvest their profits in the manufacturing and research and development (R&D) industries in Ireland.
The PharmaChem field in Ireland is attractive to foreign investors as a direct consequence of the skilled workforce available here, as the Irish employees operating in this industry put the country on the fourth global rank in terms of their professional development.
Investors who are taking into consideration the procedure of Ireland company formation can access a set of funding schemes provided by the Irish institutions (such as Enterprise Ireland) for the increase of the R&D activities.
For information about investment incentives in the most attractive Irish industries please contact our consultants in company incorporation in Ireland.