Immigration package is more expensive than to Baltic countries, but it is cheaper tham UK and less complicated than Czech Republic and Germany.
Promising businesses in Ireland
Hi-tech businesses. Software development and sales, biotechnologies. Ireland offers low profit tax rates and support from the state authorities.
Renewable energy. Ireland is developing alternative energy sources and is planning to enter European market with green energy in the nearest future.
Environmentally friendly products. Ireland is positioning itself as the best home for environmentally friendly products and is very actively promoting this through its Embassies and agencies abroad.
Property income. The market is coming out of recession. Residential property prices are growing in Dublin and some other cities. There were hardly any residential properties built in Ireland in the last 5 years while demand is quite high. Therefore, efficiency of investments into new construction is growing.
Tourist services, hotels, cafes, restaurants, etc. also have good potential. 7 millino tourists visited Ireland in 2013 while Ireland’s population in only 4 million people.
Key advantages of business in Ireland
- Profit tax of 12.5 %
- State support and tax preferences. Irish company founded by non-resident can have access to the grants of up to 25% of its expenses.
- There are tax privileges for foreign employees of the Irish companies. Foreign employee is not considered an Irish resident if he/she spends less than 183 days in the country. It makes management of subsidiaries registered in Ireland easier.
- Due to many various tax treaties, tax on dividends, interest, royalties can be significantly reduced. E.g., according to the taxt treaty signed between Russia and Ireland, tax rate for royalties and interest is 0%.
- Ireland does not have tax evasion laws. There are no regulations on controlled forighn corporations or companies unlike in many other countries.
- Individuals do not pay tax for invention patents and art (if created in Ireland).
- Highly skilled workforce is readily available in Ireland.