The last decade has brought significant changes on the Irish market related to the field of banking services. In the last 10 years, the consumer behaviour modified to a high degree, as more and more Irish citizens are performing their banking transactions by using mobile services. This activity doubled in the last ten years and the data provided by Eurostat showed that 58% of the citizens in Ireland are currently using mobile banking services. Our team of lawyers in Ireland can provide legal assistance on the Irish regulations concerning this type of transaction.
The level of Irish exports for alcoholic beverages increased at the level of 2017 by 8%, accounting for EUR 1,5 billion. The main factor which influenced the increase of exports was the demand for premium spirit and liquer drinks. Also, another relevant aspect that actively influences the export of Irish beverages is the popularity of whiskey products. The export of Irish whiskey increased by approximately 20%, reaching a total value of EUR 600 million. Our team of lawyers in Ireland can assist investors with legal advice on the import-export regulations applicable to companies which sell alcoholic beverages.
In October 2017, the Irish authorities established the measures that will be taken for the Budget 2018. The tax changes are available for both natural persons and legal entities operating in Ireland and they were created to accommodate the needs of the current market. The Irish Budget for 2018 also takes into consideration the assistance companies may need following the exit of the United Kingdom from the European Union. Our team of lawyers in Ireland can offer more details on the tax measures that will be applicable in the following year.
The property market in Ireland registered in 2016 one of its top record values, a situation which was maintained in 2017 as well. For example, in the first half of 2017, the value of the property transactions accounted for more than EUR 770 million. Businessmen who want to establish a company in Ireland in this economic sector can have very good prospects, as the real estate properties are in demand, with rising prices for both commercial and residential properties, a situation which also applicable for rental activities. Our team of lawyers in Ireland can advise on the legislation regulating this field of activity, as well as on the provisions of the property contracts.
The financial sector in Ireland is developing at a significant rate, as mentioned by the Industrial Development Authority (IDA), the main institution in charge with providing measures that will attract foreign direct investments in the country. Following Brexit, the agency has observed an increase in the financial activities carried out in Ireland, and in the first half of 2017, more than 15 international companies declared that they are interested in relocating their activities in this country. Businessmen who want to register an Irish company are advised to study the regulations applicable in the field, which can be further detailed by our team lawyers in Ireland.
The Irish tourism industry is experiencing a relevant increase in the number of tourists. At the level of 2017 (measurements taken for the period of January – May), the level of tourism increased by 3%. Investors interested to open a company in Ireland in the field of tourism should know that foreign visitors are attracted to the Irish shores, as presented by the Central Statistics Office (CSO). Our team of lawyers in Ireland can offer more details on the business permits that will be necessary when operating in this industry and can provide in-depth information on the legislation available for this sector.
Small and medium sized companies (SMEs) in Ireland declared that the they registered positive business results in the last year. The representatives of Irish companies mentioned that their business activities developed, regardless of the negative effects that resulted as a consequence of the United Kingdon’s exit from the European Union, known as Brexit. It is important to know that 62% of the of the participants of a study revealed a positive business outlook for their current activities. Our team of Irish lawyers can offer legal assistance on how to start a SME in Ireland.
Start-up businesses in Ireland are sustained through numerous financing options, available for investors who are starting their first small company. Ireland provides various grants and loans offering attractive conditions for the applicants. Those who want to start a company in Ireland can access such funding options provided that certain conditions are met and our team of Irish lawyers can assist businessmen with details on the requirements that have to be completed in the process.
Debt collection refers to the legal procedures through which a natural person or a legal entity can recover a sum of money from another party. Under the regulations of the European Account Preservation Order (EAPO), the rules related to the debt collection procedures have been changed. The modification of the law became applicable starting with 18 January 2017. Our team of Irish lawyers can offer legal advice on the new rules available under the EAPO.
The houses which were bought after 2013 are exempt of the property tax. Foreign natural persons buying property in Ireland should know that all property bought from developers or builders are exempt from paying the property tax. Our team of Irish lawyers can offer legal assistance on the regulations related to property purchases in Ireland. It is important to know that, prior to starting the transaction itself, the respective property should undergo due diligence procedures, which will be performed by local specialists who will establish if the respective property is sold with various flaws which are not stated in the property’s documents.
Ireland's unemployment rate decreased to a new low value, set up at 7,5%. According to the data provided by the Central Statistics Office (CSO), the number of unemployed persons in Ireland is now situated at 164,400. In the last 12 months (measured at the level of October 2016), 34,200 persons managed to find a job in Ireland. Investors who are interested in employing personnel for their Irish companies are advised to study the employment regulations applicable here. Our team of Irish lawyers can provide legal assistance on this matter.
Ireland is known as a developed country, which offers one of the most attractive business environments. Foreign investors are interested in setting up a company in Ireland due to its corporate taxation system, its investment policies and high skilled workforce. Another good news related to Ireland is that the wealth of the Irish population is increasing, showing that the local economy is further developing. Our Irish lawyers can offer assistance on the main legal aspects related to the Irish business environment.
With a population of less than five million inhabitants, Ireland is the best small country in the world for doing businesses. Ireland received this title in 2015 and it maintained this status throughout 2016. The country was mentioned as the best small country for business purposes in the IMB 2014 Global Location Trends report, but it is important to know that other studies revealed similar results. Businessmen who are interested in registering a company in Ireland can have very good business prospects here, due to the fact that the country provides relevant incentives and one of the most advantageous taxation systems. Our Irish lawyers can assist investors with more details on this subject.
The tourism industry in Ireland is one of the beneficiaries of the Irish Budget 2017. The local authorities have announced that the Value Added Tax (VAT) for this industry will be further on applied at the rate of 9%. The decision taken by the Irish authorities was saluted by the Irish Tourist Industry Confederation (ITIC). The institution announced that rate will maintain the industry as a competitive sector, especially under the effects of the Brexit results. Businessmen who want to start a company in Ireland can receive legal assistance on the legislation applicable to tourism operators from our Irish lawyers.
The Irish government has recently released the main provisions of the Budget 2017, which provides many tax cuts available for both natural persons and legal entities. Also, the Budget 2017 provides many positive aspects in terms of investment in the public services. Investors interested to set up a company in Ireland may benefit from the main aspects of the new Budget and our team of lawyers in Ireland can offer assistance on the taxation system available here and on the corporate benefits applicable starting with 2017.
The Irish construction sector may benefit from a new incentive, which is currently discussed by the local government. In order to promote the foreign and local investments in the construction sector dedicated to the residential field, the Value Added Tax (VAT) may be reduced to 9%, from the current rate of 13,5%. The investors who are taking into consideration opening a company in Ireland can find many business opportunities in this field, as there is a high demand for both residential and commercial buildings. Our team of Irish lawyers can offer assistance on the incorporation procedure, as well as on the business permits necessary for this type of activity.
Although situated at the edge of the European Union (EU), Ireland represents one of the best locations in which foreign investors can set up their operations. Besides the taxation system, Ireland offers many other attractive incentives which makes it a perfect location for setting up a business, especially in the financial sector. Ireland is a top international financial hub and foreign investors are advised to invest in this industry if they are activating in the field. Our team of lawyers in Ireland can offer assistance on how to register a company operating on the financial market.
Businessmen who are national citizens of the European Union’s (EU) area who have opened a business in United Kingdom (UK) can relocate their business to Ireland if they consider that the Brexit (the referendum which decided the exit of the UK from the EU) will have negative effects on their current companies. Irish authorities have already stated that the local business environment is ready to receive such businessmen, as the country provides a stable market and advantageous tax conditions. Investors who are interested in setting up a company in Ireland can address to our team of Irish lawyers, who can assist investors with legal advice.