If you are looking for a best country to start a business in 2015, Ireland is a great option. With no (zero) paid capital, low corporation tax rate and low levels of bureaucracy, Ireland is a country that is extremely supportive of entrepreneurs seeking to set up a new business venture.
Here are 10 fantastic reasons why Ireland is a great option to start & do business:
- Ireland was ranked the third least complex country for multinationals to do business in in 2014 according to TMF Group’s Global Benchmark Complexity Index. TMF, a provider of global business and compliance services, said “The ease of doing business in Ireland was likely to improve in 2015 with the enactment of legislation to reduce the complexity of legal entity management. This will include allowing companies to appoint only one director (previously two were needed), having no requirement to physically convene agms, and having a single constitutional document.”
- The World Bank’s ‘Doing Business’ report rates Ireland’s tax regime as the most business-friendly in Europe or the Americas. Low tax, pro-business environment with 12.5% corporate tax rate and 68 double taxation treaties in place.
- Ireland ranks at no. 11 in the Global Innovation Index 2014 and supports this with generous R&D tax credits of 25%. This can provide much needed cash flow during the startup phase of a business or help during the growth phase so your company can move to the next level.
- Forbes “Best countries for business” report rates Ireland as best in Europe and 4th in the world for doing business.
- The Irish Government pursues a pro-business economic policy. There are many government funded organisations in place to help you get started in your business and to help fund it when it is growing. Start-Up Ireland is one such organisation. Its goal is
“to make Ireland a global startup hub for jobs and innovation by 2020”.
Enterprise Ireland is also a very active organization that works in partnership with many Irish companies and help them to do business around the world. Enterprise Ireland do not just assist in funding but also provides other valuable business support services like assistance in finding customers & buyers, linking up with experts for business advice, export assistance, R&D collaboration and more.
- Ireland is renowned as a country that welcomes foreign-owned businesses. Most of world’s largest companies have their headquarters in Ireland. Google, Facebook, LinkedIn, Twitter, Microsoft are a few IT giants. Global banks include Citibank, Bank of America and BNP Paribas. There are also several famous pharmaceutical MNCs operating in Ireland. This concentration of world class corporations has positioned Ireland as a major European business centre in turn attracting some of the world’s most talented people.
- In recent years, the cost of operating a business in Ireland have become more affordable than compared to other European nations.
- International reports rate Ireland’s workforce highly for factors such as educational attainment, productivity and flexibility. With a broad and well educated workforce, it is a great place from which to recruit and retain local and international talent. Ireland’s predominantly young work force is capable, adaptable, mobile and committed to achievement. The median population age is 35, the lowest in the EU.
- Ireland is the only English-speaking country in the Eurozone. English also cements Irelands close ties with Britain and USA. According to Ernst & Young’s 2012 Globalisation Index Ireland is the most globalised nation in the western world in terms of GDPs, and the 3rd in the world’s most globalised nation after Hong Kong and Singapore.
- Setting up a business in Ireland offers a gateway to access a massive market of over 500 million consumers in Europe – the world’s largest single market. Its geographic position, easy transport links to Europe, the US and the Middle East, and membership of the EU and Euro provides easy access to some of the richest markets on earth.
Ireland: Companies Registration Office
Source Information: Irish Times