How Ireland acts as a Gateway to Europe
With ongoing building and expansion, Ireland’s property market is expanding to accommodate the influx of many large-name companies. Adjusting to a post-Brexit economy, trade missions like Gateway to Europe, demonstrate that this growth shows no signs of slowing down.
Back in 2011, Forbes rated Ireland as the best country in Europe for doing business. With some of the biggest companies in the world, Apple, Google, Facebook, Twitter and Amazon, currently based in Dublin, it is evident that this accolade still holds true. In the last 6 years, the number of high-profile businesses choosing Ireland to launch their European Headquarters has continued to rapidly increase.
This in part is due to the fact that Ireland is an ideal location to set-up business as a gateway to the European markets. Since opening Glandore 16 years ago, we have seen many of the companies we have housed in our offices, continue to grow business on this continent.
If you are considering choosing Ireland for your first EMEA headquarters, we share 5 reasons why it can help your company expand further into Europe.
1. Open gateway to World Markets
Ireland is in an ideal geographic location. It is one of the most open and globally connected countries; allowing entry to the largest markets in the world. It has access to the EU and Eurozone markets, as well as strong transport links to Europe, the US and further afield. Here at Glandore, we have found its location as one of the biggest factors in companies choosing Ireland as their place to expand.
Of all the countries in the EU, Ireland is the closest to the USA and offers shorter flight than its other European counterparts. Additionally, it is the only country that hosts US immigration service locally.
2. Availability of skilled/English speaking workforce
Ireland is the only English-speaking country in the Eurozone. CSO figures also reveal that over half a million Irish people can speak a second foreign language fluently.
We have found this is important for companies thinking about entering the European market, as English fluency, as well as foreign language proficiency, are essential in order to interact with European companies.
Furthermore, Ireland has one of the most educated workforces in the world. According to the OECD, 52% of 25-34-year-olds have a third level qualification; compared to the OECD average of 42%.
In 2015, over 265,000 students enrolled in third level courses here in Ireland. Over 30% of students enrolled in Science, Technology, Engineering and Maths (STEM) courses, with over 20% enrolled in Social Sciences, Business and Law courses.
These figures mean companies looking to set up in Ireland will never be short of prospective employees to choose from.
3. Low tax rate
Ireland has a very competitive tax rate. With a 12.5% corporate tax for active business, it is one of the lowest rates in the world. A 25% Research & Development tax credit also applies. The tax rates are completely transparent with no hidden costs.
This is one of Ireland’s biggest advantage over our EU rivals. The low tax rate is a big factor in companies deciding to move to Ireland.
The Irish government also offer employment grants for employing people who may be unemployed for a long period of time, as well as training and capital grants.
4. World leader in key innovative sectors
According to the Global Innovation Index, Ireland ranked as the 10th most innovative country in the world. It is not difficult to see why. Our island is home to world-class research and development facilities and expertise, as well as being the internet and games capital of Europe. Along with this, Ireland has put increased effort into pioneering sustainability measures. Within the Agrifood sector, the country has a production capacity to feed 300 million people.
As previously mentioned, it has the most global players in the ICT sector. Google, Apple, LinkedIn and Paypal are just some of the companies that hold their European Headquarters in Ireland. Furthermore, most of the biggest pharma companies in the world are manufacturing in Ireland, and 50% of the world’s leading Financial Firms also have operations based around the country.
5. Great quality of life
Ireland is an ideal country for business, as well as for families and working professionals. As a family-run business, we know the advantages of living in Ireland only too well. Cities like Dublin, Cork, Belfast, and Galway are ranked highly worldwide as idyllic places to live.
Ireland is a country that is saturated in culture; from music and sport to history and the arts. It has one of the best education systems in the world as well as stunning landscapes up and down the country. It’s close to both mainland Europe, as well as to the United States, making it a perfect location to act as a springboard into Europe.