Business in Ireland: what you need to know and the advantages of opening

Registering a company in Ireland is one of the ways to scale your business to the European and American markets. Ireland provides one of the best investment climates in Europe, being home to large multinational companies who have been attracted here due to the competitive conditions offered by local authorities.

Ireland is a country that offers a variety of business opportunities, with low corporate tax rates and policies that encourage innovation.

If you are wondering how to form a company in Ireland, this article outlines the legal aspects of the registration process.

Opening a company in Ireland: business advantages

The main advantages that attract foreign investors to this country are:

  1. Launching an investment project in Ireland is a strategically advantageous choice. The country has an excellent strategic position between the United Kingdom, Europe and the United States, and is connected to all major business centers and countries by air and sea.
  2. Ireland, due to its advantageous location, attracts companies interested in doing business in the European market, serves as a “gateway to Europe” and a global business center, providing access to 741 million potential consumers.
  3. Ireland was ranked the 24th most competitive country in the world in 2022 out of 140 countries included in the Global Competitiveness Report.
  4. 24th in ease of doing business (among 190 economies) according to the World Bank ranking (2020).
    In 2021, Ireland was ranked 13th out of 64 countries in the World Competitiveness Index.
  5. Launching a startup in Ireland is considered a promising solution for the reason that the country can offer a developed system of accelerators, business investors, incubators offering pre-seed investment, office space and all types of mentoring support for business operations for startup owners.
  6. Ireland ranks 3rd in Europe for the number of start-up entrepreneurs. The Ireland Startup Visa is the most popular choice among ambitious foreign entrepreneurs looking to launch an innovative business.
  7. The country is known for its strong startup environment and support for their growth and prosperity.
    A highly educated, dynamic and talented talent pool.
  8. Ireland has a rich history of advances in science and technology and continues to invest in research and technological capabilities.
  9. Over the past few years, Ireland has established itself as an investment destination for many multinational companies. Ireland is home to the European headquarters of several of the world’s leading companies – 8 of the world’s top 10 pharmaceutical companies, and 50% of the world’s financial services companies are based in Ireland.
  10. From a financial perspective, Ireland has one of the lowest corporate tax rates in the EU at 12.5% and a 25% tax credit on R&D costs for tech start-ups.
  11. Tax exemption for three (3) years for start-up companies.
  12. Tax benefits for the acquisition and development of intellectual property.
  13. Ireland also has double tax treaties in force with 74 countries.