Ireland foreign Investments incentives
Ireland Encouragement LawsIreland is considered the most rapidly growing economy in Europe and is a focus of attraction for the attention of many western corporations.
The attraction is derived, from many factors, including the following:
- A developed infrastructure - There is almost no point in Ireland that is more than 110 km. from a major air- or seaport. There are three international airports in Ireland and six regional airports.
- A skilled work force - The skills in the hi-tech and industrial fields are found in a young work force with an average of age of 30.
- Generous tax laws - In many cases, the tax laws result in a corporation tax of only 12.5%. In addition, there are other tax schedules that allow a reduction of tax payments for foreign residents who are able to take advantage of a Double Tax Prevention Treaty.
- Relief in the form of grants for financing preferential projects. The results of this are highly perceptible on the ground. Many multi-national companies prefer to set up their development centers in Ireland.
The country has 3 major seaports. The largest, in Dublin, and a number of the smaller ports have a direct connection with the European continent.
Ireland Benefits for Investors
- Benefits are granted in a number of forms, from tax at a reduced rate of 12.5% (from 1.1.2003), to grants and loans given by the IDA (the Industrial Development Authority).
- Additional benefits for marketing promotion are given either as grants or as loans by the "State Export Board".
Ireland Grants to Manufacturers / Providers of International ServicesThe grants are awarded to capital investments, employees training and export expenses.
The size of the cash grants depends on the location of the industry and other factors.
Ireland R & D Tax Credit
- A tax credit of 25% is given to qualifying additional R & D expenses over year 2003.
The tax credit is in addition to the accelerated depreciation allowed to energy efficient projects.
- The categories qualifying for R&D credits are natural sciences, engineering and technology, medical sciences and agricultural sciences.
Start up Companies in Ireland
- For start up companies starting to operate in 2009-2011 there is a tax exemption from corporate income tax, subject to terms.