Ireland will remain a full member of the EU. It will continue to be in the EU Customs Union and the Single Market. This is a cornerstone of Irish State policy and is supported by all parties represented in the Irish Parliament. Public Support for EU membership has been consistently very high (85%+) in Ireland for many years.
The EU Treaties guarantee extensive freedom to trade in goods with and to provide services to and in all EU member states. Irish established companies and firms can have the confidence that these overriding rights will continue in all EU states and can be asserted by legal action or by Commission action in any state.
In the most likely scenario, of an EU UK trade agreement without a customs union, significant customs and related procedures will apply to the importation of goods into the EU single market from the UK. In particular, it will be necessary that an importer of record, established in the European Union, completes the required import customs notices and declarations.
Establishing a base, agency or representation within Ireland will allow the continued importation of goods into the EU in circumstances where it might otherwise be uneconomic or impractical. In such cases, the establishment of a base in Ireland will enable UK businesses to have the best of both worlds, with access to the UK market with the benefit of its trade agreements, and continued access to the EU single market.
Ireland has had a corporate profits tax rate of 12.5% for over 20 years, which all the main political parties have firmly resolved to retain. There is an exemption for start-up companies with profits below €200,000 in their first three years of trading.
There are several important reliefs from tax. They include extensive relief for research and development expenditure and for acquiring / onshoring intellectual property.
Ireland has an extensive network of double taxation treaties including with the UK, US and most developed countries.
Irrespective of the outcome of Brexit, the EU, Irish and UK governments are firmly committed to the maintenance of the Common Travel Area. The CTA allows UK citizens to travel unconditionally without checks to and from the Republic of Ireland and to have immediate settled status in Ireland.
UK citizens may work or run a business in Ireland. UK citizens have immediate access to healthcare, education, social benefits and the right to vote in most elections. For historical reasons, most UK qualifications will continue to be recognised automatically, or with minimal further steps, in Ireland.
Ireland maintains a stable, secure and pro-business environment. The Irish Government is committed to the sustainable management of public finances. EU law on the Euro guarantees this position. The Irish state has “A” grading from all major credit agencies
Ireland is the third most competitive economy in the Eurozone and fifth most competitive in the European Union. Hourly labour costs in Ireland are mid-range in Europe and below the Eurozone average.
Ireland has the youngest population in Europe with a third of the population under 25 years old. The population is forecast to increase by 1,000,000 by 2040. Ireland has access to the EU and the UK labour market.
Ireland enjoys a high degree of political stability. The major political parties, which enjoy the support of over 75% of the electorate, are very firmly committed to promoting a pro-business and a free market economy. Changes of government in Ireland do not lead to significant changes in the tax, legal, regulatory, employment or trading environments.
Ireland is firmly committed to continued membership of the European Union. Ireland has consistently demonstrated high degrees of public support for membership of the EU, of up to 90% or more. This support has continued and increased since the Brexit vote.
Ireland is readily accessible from any part of the United Kingdom. There are hundreds of daily flights as well as several ferry crossings.
An enormous volume of goods crosses the Irish Sea in both directions on a daily basis. Approximately 500,000 freight vehicles pass through Dublin port alone annually most coming from or going to to the United Kingdom.
The continued availability of the Common Travel Area will continue to make travel for Irish and UK nationals frictionless.
Ireland is home to world-leading established companies and high-growth companies that will shape the economy of the future.
IBM’s Global Location Trends ranks Ireland first for attracting high-value FDI projects. One-third of multinational companies in Ireland have had operations for over 20 years.
There are thriving clusters around the country in sectors such as medical technology, pharmaceuticals, financial services and Internet technology.
Ireland has the youngest population in Europe with one-third of the population under 25 years of age. The population is forecast to increase by almost one million people to 5.75 million by 2040.
In 2017/2018 over 220,000 students enrolled in third-level courses across Ireland’s universities and colleges.Over 30% of students enrolled in Science, Technology, Engineering and Maths (STEM) courses.
Ireland’s education system is amongst the best in the world. It ranks in the top 10 globally.
Irish laws and the Irish legal system are very similar to those in the United Kingdom. Irish common law is almost identical to that in England and Wales and Northern Ireland. UK precedents are commonly followed in Irish courts.
Most of the key commercial and employment legislation is in identical or very similar terms. The courts’ systems and procedures are very similar.
Ireland and the United Kingdom have the deepest ties of families, language and culture. English is the everyday language in Ireland.
There are almost 3 million visits from Britain to Ireland annually. There are approximately 2.6 million visits from Ireland to Britain annually.
In 2017 5.5% of all UK exports (£34 billion) were to Ireland while imports from Ireland (£21 billion) comprised approximately 3.4% of all imports.
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