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Did you know Ireland is the entry route to Europe for many major multinational companies?
1,200 multinationals including ICBC, Huawei, ZTE, Lenovo, Tencent, Google, Apple, Citigroup, Pfizer, Microsoft, Accenture, Facebook, Dell, and Allergan all use Ireland as a European base.
The same reasons that have attracted such companies to Ireland are also advantages for you when doing business in Europe:
- An English-speaking, business-friendly environment
- Full access to the EU’s 27 national markets – equivalent to 500 million people with an average GDP per capita of over USD30,000
- Because Ireland is a small state within the EU, you have faster and easier access to government decision makers, and, if necessary, you can discreetly test out market ideas first before a full European launch.
- A Corporate Tax rate of only 12.5%, compared with over 30% in Germany and France
- Preferable double tax treaties with several Asian countries, including China, allowing reduced dividend and withholding taxes and certain tax-free capital gains not commonly available elsewhere in Europe
- Use of the Euro currency, removing currency barriers for accessing the major European markets of Germany, France, Italy, Spain, the Netherlands and Belgium
- High labour productivity allowing a lean base to coordinate your pan-European and North American operations. (Ireland also has the EU’s highest graduate rates)
- Strong historic links with the US, UK, Australia and Canada. A colonial experience shared with some of Asia, including China’s Treaty Ports, Hong Kong and Malaysia. Now a proudly independent and politically neutral country within the EU
- Under 1 hour’s flight from London, less than 2 hours from Germany and France, and just 6 hours direct flight from New York. Ireland also conveniently sits between European and North American time zones, with 1 hour’s time difference to Germany, and only 5 hours ahead of New York
- Easy access to Ireland’s famously beautiful landscape, with plentiful golf, hiking, angling, surfing, sailing and other favoured corporate pastime opportunities
- A culture that emphasises personal relationships, flexibility and business pragmatism. In common with many Asian countries, Ireland values its long history, with a high respect for education and culture
Ireland has a particularly strong reputation for hosting international operations in the following industries:
Healthcare and Pharma
- Tax deductable IPR spend; the highest rates of university education in the EU; a 25% R&D tax credit rate – no wonder 8 of the world’s top 10 pharmaceutical companies and 15 of the world’s top 25 life science companies are already in Ireland.
Financial Services
- Over 30,000 people are directly employed in financial services in Ireland’s capital, Dublin city, making it one of Europe’s major financial centres. In the funds space, for example, €900 billion is domiciled in Ireland, while in aircraft leasing, 50% of the world’s commercial aircraft fleet (over €83 billion in assets) is managed from Dublin.
Information Technology and Gaming
- Already hosting 7 of the world’s top 10 IT companies, including Google, Facebook, Microsoft and Apple plus an emerging generation of gaming software developers, Ireland is the recognised global destination to domicile and/or base your IT functions – an ideal fit with Ireland’s competitive tax environment, neutral political stance, and educated workforce
Renewable Energy
- Huge wind and marine power potential and interconnected with the UK grid at competitive feed-in tariffs, Ireland is emerging as a centre for marine and smart grid technologies, with both academic and industrial research and manufacturing credentials
Agribusiness, Food and Beverage
- Ireland’s agricultural output has the potential to feed a population more than 10 times its own size. Ireland’s premium quality exports in the agribusiness, food and beverage space (including beef, pork, poultry, salmon, dairy produce, bread, and whiskey, stout) means that Ireland is a major net exporter of food produce globally. Recognised for its high standards of management and technology, Ireland also has strong credentials in the organic food space.
How we can help
KPMG can help you throughout your investment and operations cycle. Our services include:
- Market entry and commercial strategy
- Target / partner identification
- Integrated due diligence
- Location assessment
- Approach to talent
- Corporate finance, tax and regulatory support
- Partner agreements, company formation and compliance
- Customs and trade support
- Cultural acclimatisation and networking
Contact us to find out more
Barrie O'Connell
Partner
barrie.oconnell@kpmg.ie
+353 1 410 4577
Christopher Brown
Associate Director
Christopher.brown@kpmg.ie
+353 1 700 4389
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