Ireland is currently one of the most successful countries in Europe because the increasing number of foreign investors it attracts year after year. Ireland has one of the lowest corporate tax rates not only in Europe but in the world, which is why many foreign citizens are attracted by the investment opportunities this small country offers. The Irish Stock Exchange is one of these attractions. However, in the beginning it is highly likely to make a few mistakes when investing here. Below you can find 5 of the most common mistakes foreigners are prone to make when investing in Ireland.
1.Not having a plan when investing in Ireland
Some investors start making investments without first conceiving a plan to follow. Therefore, not making an investment plan can be one of the biggest mistakes because planning will help you have vision of your future investments and will help you establish your goals.
2.Not understanding what diversification means
Diversification does not mean investing in several but similar types of funds. The larger the pool of assets, funds and industries the greatest chance of returns on investment. Seeking several regions to invest in is could also prove to be a wise decision. Our specialists in company formation in Ireland can offer you information about the most developed regions in the country.
3.Waiting for too long to invest in Irish assets
Once an opportunity you are interested in arises, you should invest. Long-term investments have one the greatest chances to turn successful. Whether you want to buy shares in an Irish company or trade on the Stock Market, you should not wait too long to take that step.
4.Not understanding what you are investing in
When investing for the first time in Ireland it highly recommendable to know what you are investing in. Going head on into a business could not turn out to be the most fortunate choice. That is why asking for professional advice at least in the beginning could save you a lot of money in the future.
5.Not reviewing your plan when investing in Ireland
It is advisable to review your plan and investment goals from time to time. Not only it will keep you updated on your situation, but it will also provide you with new ideas on what to invest in next.
If you want to invest in Ireland and need advice on the best options, you can contact our representatives for assistance.