Setting Up Business In Ireland

1. INTRODUCTION

Ireland's recent domestic economic problems have been well documented. Over the past four years the Irish real estate market has softened, the country's main banks have been recapitalised, in some cases nationalised, and a €67.5 billion bail-out from the EU / IMF was required in November 2010 in order to shore-up exchequer finances. However, from an international business perspective, Ireland has never been a better place in which to do business. The downturn has reduced costs for companies locating in Ireland, as commercial property prices are now 60% off their peak, while electricity prices for large users fell by approximately 27% in 2010¹. Meanwhile labour costs have also been reduced and more capacity exists in the workforce. During this period Ireland's tax offering has remained a constant, and in some cases has been enhanced as the Irish government has continued to beat the drum for further international investment.