Ireland is considered to be the best place to set up a new business. Large companies like Microsoft, Pfizer, Intel, Google, and Facebook have already in Irish operations. Here are four reasons why Ireland has been chosen as the best country for business globally.
Low corporate tax rates
This low rate attracts many foreign companies to establish their business here. The corporate tax rate is only 12.5% which is the lowest in the world. Companies can also get 25% tax credit against research and development costs. Ireland also has double taxation agreements with 72 countries.
Jobs and skilled workforce
Ireland is one of the European Union members. This means that European citizens can easily move within the European Union to work and live. There is also a special tax relief program for employees who relocate in Ireland. Ireland is the only English-speaking country in the Eurozone. They have highly skilled labor. About 48% of 25 to 34-year-olds are the third level qualified. The majority of the workforce is under 35 years of age.
IP exploitation benefits
The Irish Government offers organizations attractive tax incentives for intangible assets. This makes Ireland a good location for investing in intellectual property.
The Irish economy is increasing at a rate of 2.5 – 3% annually. It is now a fast growing country in Europe. The rate of inflation is below the EU average. Productivity is increasing.
These factors make Ireland the best place to do business. More than 1,000 companies have already set up their headquarters here. You can think of starting a business here too.