Starting a Business in Ireland
Not only is Ireland a great place to live — it is also an amazing place to own a business. As a foreign entrepreneur, there are many intriguing business opportunities awaiting you in the Emerald Isle.
Overseas companies make up a substantial amount of the Irish economy. There are more than 1,600 overseas companies in the country that hire more than 250,000 people. In fact, foreigner-owned companies are responsible for about 20% of all private-sector employment.
This article will walk foreign business owners through forming and operating a company in Ireland. For additional guidance, browse qualified Advisors and read featured Articles on Relocate, an independent marketplace for global migration.
Why Start a Business in Ireland?
Whether you are an established multinational company, a small business owner or launching a startup, there are numerous benefits to owning a business in Ireland as a foreigner.
The economy is booming in Ireland, which enjoys the fourth-highest GDP in the world. This is thanks, in part, to the many overseas investors that pump around €19.2 billion into the economy each year. Even coming out of the economic crisis caused by the pandemic, Ireland remains strong, recording higher growth in 2020 than all other major economies in the world.
Foreign investors often see Ireland as a strategic move. Operating from Ireland provides easy access to the rest of Europe, both by proximity and because the country is a member of the European Union (EU) and Eurozone.
Businesses are also drawn to the low corporate tax rate. At 12.5%, Ireland has one of the lowest corporation tax rates in Europe. There are other tax incentives, as well, including a 25% tax credit for research and development costs and double taxation agreements with dozens of countries.
Types of Businesses in Ireland
If you are starting a business in Ireland, it is important to understand the types of companies permitted there, so you can select the best legal entity for your endeavor. There are various business types to choose from, many of them limited companies that create separate legal entities from those forming them, protecting their personal assets. Here are some of the more common types of businesses in Ireland.