Why Invest in Ireland?
Ireland vs the Rest of the World
To put it simply – Ireland is one of the best places in the world to do business. We are one of the fastest-growing economies in Europe, open to foreign capital and have a reputation for protecting investor funds.
Global organisations such as Google, Facebook, Pfizer and Apple have all come to our shores, making Ireland a hub of business and technology. Leading industries in Ireland include:
Ireland’s Track Record
For Ireland and many other countries that operate Immigrant Investor Programmes (IIPs), there is a requirement that foreign investment must build or improve the country’s infrastructure, create new companies or jobs and raise capital to boost the economy.
Ireland is one of the top three most attractive countries in the world for investment.
Top Ranking Destination Countries by Average Job Value of Investment Projects (2018)
Source: IBM’s Foreign Direct Investment (FDI) Value Indicator, which assesses the value of each investment project, depending on sector and type of business activity. This value indicator assesses the added value and knowledge intensity of the jobs created by the investment project.
Ireland Attracts World-Leading Companies
World-leading, established and high-growth multinational organisations from around the world, such as Google, Facebook, Pfizer and Apple, have all come to Ireland’s shores. Ireland is home to many of the leading companies in their industries, including:
One third of multinationals in Ireland have operated in the country for more than 20 years, illustrating the longevity, resilience and commitment of these companies to Ireland.
The Irish Passport – One of the World’s Most Powerful
The Irish passport is one of the most powerful in the world, ranking above the United States and United Kingdom, which have seen significant drops from their joint-first spot in 2014.
An Irish passport grants entry to 172 countries visa-free as well as provides access to the European Union (EU).
Predictions expect the Irish passport to continue to be highly sought in the coming years due to Ireland being:
- Both economically and politically stable
- A core member of the EU
- A safe country
In 2019, 900,000 Irish passports were issued due to a steady rise in applications from British residents since the 2016 Brexit vote.
Economy
Top 10 Countries Based on Gross Domestic Product Growth
Source: IMF World Economic Outlook, April 2019/July 2019, Eurobarometer March 2019/August 2019
Ireland has one of the fastest-growing economies in the world, second to China.
It has the fastest-growing economy in Europe, and is open to foreign capital and has a reputation for protecting investor funds.
Ireland is a committed member of the EU Single Market and the Eurozone and receives an ‘A’ grade from all major credit rating agencies.
The Irish Government is committed to sustainable management of public finances.
Education
Ireland is one of the best educators in the world, ranking in the top 10 globally with an education system that meets the needs of a competitive economy.
It has some of the most educated people in the world with 56.3% of 30-34 year olds in Ireland holding a third-level qualification (higher education), compared to an EU average of 40.7%.
The country ranks in the top 10 in the OECD’s Programme for International Student Assessment, which assesses students’ skills in reading, mathematics and science.
73,333
graduates in Ireland in 2018
Student Skills
| Country | Points |
|---|---|
| Japan | 529 |
| Estonia | 524 |
| Finland | 523 |
| Canada | 523 |
| Korea | 519 |
| Ireland | 509 |
| Slovenia | 509 |
| Netherlands | 508 |
| Germany | 508 |
| New Zealand | 506 |
Source: https://stats.oecd.org/Index.aspx?DataSetCode=BLI#
Total Graduates 5-Year Trend
Source: https://hea.ie/2020/07/03/enrolment-and-graduate-5-year-trends/
Total enrolments to Higher Education reached a five-year high in Ireland in 2018, with an almost 10% increase between 2014 and 2018.
Total graduates also peaked over a five-year period with 73,333 in 2018.
Top courses with the largest number of graduates in 2018
Workforce
Ireland has one of the youngest and best-educated workforces in Europe. The population of under 25s is forecast to increase by almost one million people to 5.75 million by 2040.
Irish labour costs are below the European average of 30.6 and the lowest in the world.
Percentage of Population Under 25
| Country | Percentage |
|---|---|
| Ireland | 33.3 |
| Norway | 30.5 |
| France | 30.1 |
| Cyprus | 30 |
| United Kingdom | 29.9 |
| Denmark | 29.6 |
| Sweden | 29.3 |
| Netherlands | 28.6 |
| Belgium | 28.6 |
| Luxembourg | 28.1 |
Source: Eurostat 2019
Tax
The corporate tax rate in Ireland is the lowest in the world at 12.5%.
A 25% research & development (R&D) tax credit is available for all qualifying R&D expenditure
Ireland was ranked first in Europe for ease of paying business taxes in the PwC ‘Paying Taxes 2019’ report.
Corporate Tax Rates
Source: KPMG 2019
Quality of Life
Human Development Index
Ireland ranked third in the Human Development Index.
| Country | Rank |
|---|---|
| Norway | 1 |
| Switzerland | 2 |
| Ireland | 3 |
| Hong Kong | 4 |
| Germany | 4 |
| Iceland | 6 |
| Sweden | 8 |
| Singapore | 9 |
| Netherlands | 10 |
Sources
http://hdr.undp.org/en/content/human-development-index-hdi
https://stats.oecd.org/Index.aspx?DataSetCode=BLI#
Travel and Transportation
Ireland has extensive transport links to Europe and the rest of the world.
Over 400 flights a week leave from Dublin, Cork and Shannon to London.
Dublin and Shannon Airports are currently the only US pre-clearance locations in Europe.
Irish ports offer transport services, facilities and maritime supply chain solutions to a number of industry sectors.
Irish port traffic accounts for over 90% of imports and exports moved in and out of Ireland and facilitates an average of 4.5 million foot and car passengers.
Ireland’s three main ports are Shannon Foynes, Cork and Dublin which account for over 80% of total bulk volume.
New investment in infrastructure, staffing and ICT systems at ports and airports to manage the necessary checks and controls on EU-UK trade post-Brexit.
Source: Central Statistics Office, 2019; Dublin Airport Authority 2019.
Helping You to Invest in Ireland
Are you a high-net-worth individual looking to gain Irish residency by investment? Ireland’s Immigrant Investor Programme (IIP) offers investors and their families a simple, proven route to residency in one of Europe’s safest and most stable countries.
Established in 2012, the IIP encourages foreign investments into Ireland with a view to facilitating job creation across all industries while developing the Irish economy.
The Irish Naturalisation and Immigration Service (INIS) and an evaluation committee are responsible for deciding which investments are eligible for the IIP, granting applicants with an Ireland Investment Visa – often referred to as an Ireland Golden Visa because of the many ‘golden’ benefits it offers.
What is the Immigrant Investor Programme?
The Immigrant Investor Programme (IIP) is geared towards wealthy individuals, usually entrepreneurs and investors, who are granted residency in exchange for their investment.
Any country operating such a programme requires foreign investment to build or improve their infrastructure, create new companies or jobs and raise the capital to boost the economy.
To have a no-obligation discussion with us about making an IIP application, contact Gibson & Associates by calling +353(0)1 872 3143, or by filling in our online enquiry form to request a call back.