With Brexit coming ever closer, there are a lot of companies in the UK worried about their futures in Britain. Companies may need to stay within European laws and although unconfirmed, European and overseas staff may need to apply for visas to continue to work in the UK. A lot of companies have decided to relocate due to these uncertainties and the most obvious choice is Dublin, Ireland. Here’s why:
Growing Economy And Skilled Workforce
After a tough few years during the recession, Ireland’s economy is showing a steady growth and shows no signs of slowing down. Our rates of unemployment have decreased dramatically since 2009 and are now at a 10-year low. Ireland’s workforce is young, skilled and some of the best –educated you’ll find anywhere in Europe. In fact, 9 of the biggest universities in Ireland are ranked in the top 5% internationally.
You Will Keep Your Connection To Europe
One of the biggest benefits of relocating to Ireland after Brexit is keeping your connection to Europe and operating under EU laws and regulations. Although a lot of the finer details have yet to be finalised, Britain has voted to exit the EU, meaning they will no longer benefit from the European single market. It is the largest international single market in the world, which gives greater competition in services - good for both businesses and consumers. Ireland is set to become a ‘gateway to Europe’ when the UK leaves.
English Speaking Workforce
Ireland’s workforce is not only young and educated but is mostly English-speaking. English is often used as an international language of communication, no matter the mother tongue of the country. After Brexit, Ireland will be the only English speaking country left in the EU making us even more attractive to US, UK and international businesses. EU residents will continue not to need visas to work in Ireland, meaning a much wider and culturally diverse team.
Low Corporation Tax
A low corporation rate of 12.5% applies to all Irish corporate trading profits; a rate of 25% applies to non-trading or passive income. This makes us extremely attractive to all new businesses and one of the lowest tax rates in the world, 6.5% less than our British counterparts. Your company can also qualify for a 25% tax credit for research and development spending which you can deduct from the 12.5% annual tax bill.
Location & Culture
Ireland is one of the most open and well-connected countries in the world for business. Ireland is in a very enviable geographical position in the world, only an hour’s flight from London, no more than three hours from any of the European business hubs and 7 hours from New York.
According to a 2016 survey by Indeed, Irish people enjoy a high quality of life and our workforce is the happiest in Europe. We assume this is due to the high quality of food, diverse culture and lively social life we have come to love here. This really is a great place to live and do business!
If you are considering a move to Dublin, speak to one of our experienced team members about the benefits of Premier Business Centres. We offer fantastic serviced offices, meeting rooms and hot desk options in Dublin and Kildare. You can contact us or call Therese on 086 6001238 to arrange a meeting.