It is every investor’s major concern to have reliable information about the country they wish to invest in. There are many factors to put into consideration when investing in a foreign country. Apart from a high investment return potential, you also have to contemplate if the country has a good political and economically viable system to sustain the growth of your business. Ireland is currently one of the most targeted countries by foreign investors due to it’s favorable tax rates, a highly educated workforce and most importantly it’s broad network of double tax agreements signed with numerous countries. But that’s not all
Checkout these 4 advantages of investing in Ireland:
- Corporate tax
The Irish jurisdiction offers one of the most favourable tax regimes, not only in Europe but on a global scale. Ireland’s reasonably low tax rates are transparent and fully corporate with the guidelines of the Organisation for Economic Co-operation and Development. Currently, the corporate tax rate in Ireland is pegged at only 12.5%, making it one of the lowest corporate tax rates in the EEA.
- Economic and political players.
Despite Ireland having a significantly small economy compared to other EU macro giants' countries, it is currently ranked as one of the fastest growing economies in the eurozone. The Irish government has established many favorable fiscal policies such as the national asset management which allows the government to purchase assets from banks and allow the capital release to the businesses. This action substantially assists major business development and expansion. Businesses in Ireland depend on the economic foundations of the BREXIT forum which allows Irish companies to export products into Britain. Political and economical interrelationships with major countries in Europe have also proven to be very beneficial to corporates settling in Ireland. The EU also guarantees a diverse foreign market for businesses looking to export into European countries from Ireland.
- Availability of local skilled labor
Every businesses’ success is determined by the skill level of the available labor force. Education is a fundamental resource in developing local residents to be able to support any form of businesses thus Ireland has a strong focus in the rehabilitation of highly skilled labor and educational development throughout the country. Every investor will obviously benefit from the available local residents whose fundamental literacy rate is of the highest quality.
- Business versatility and competitiveness
Every healthy business is supported by the country's policies which ensure the ease in market access and trade. Everyone wants to do good business and feel good about their operations each and every day. Hence underlying issues like insolvency, market manipulation, and minority investors protection has been the sole responsibility of the country and that of its counterparts in the EU trading community so as to improve the ease of doing business. Competition is always a healthy boost for every business’ performance hence Ireland’s trade competitiveness which has been ranked 23rd out of the 138 global economies elevates the scale for every business to have a chance in global foreign trade which is virtually every business’ milestone.
It is duly evident that Ireland has indeed a set of high-quality tools to aid each business to grow and develop in a sustainable and profitable fashion. For more details and assistance on the benefits of setting up a company in Ireland, you can reach out to our well-informed consultants at SIGTAX.