In the aftermath of Brexit, Ireland is a prime location for companies looking to access the Eurozone, with many advantages over other EU business cities such as Paris and Frankfurt. Here are five reasons that explain why Ireland is the smart choice.
- Ireland has the lowest corporate tax rate in Western Europe at just 12.5%, compared to the EU average of 23%. This is in stark contrast to France, where corporate tax rate is 33%, and Germany where it is 30%.
- Ireland offers tax credits of 25% for Research and Development. This includes costs related to staff and their salaries. Start up relief is also provided for new businesses whose profits are less than €320k, with marginal relief where profits are below €480k.
- Forbes magazine rated Ireland 4th in their “Best Countries To Do Business” report, with Germany ranking 18th and France 29th. The report measured metrics such as innovation, taxes, technology and stock market performance.
- Ireland is the only English speaking country in the EU. Apart from being less than a one hour flight from London, Ireland has fantastic infrastructure across the country and easy links to the Middle East and the US, with Ireland being the only EU country to have US immigration pre-clearance at Dublin airport.
- Ireland has a highly educated and culturally diverse workforce. Over 50% of Irish people aged 30 to 34 have completed third level education, which is higher than any other country in the EU and above the OECD average of 39%.
For direct EU access and a thriving business culture only a short distance from Britain, Ireland is an ideal gateway for companies planning to trade in Europe.