Facts about the Republic of Ireland

 

FACTS ABOUT THE REPUBLIC OF IRELAND

IRELAND AS A COMPANY MANAGEMENT LOCATION

The Republic of Ireland is the most favoured company management location in Europe; primarily because of its pro-business stance, lack of bureaucracy, 12.5% corporate tax rate, domicile and residence rules favouring foreign permanent residents plus of course excellent reputation and high standard of living. In addition, although the Republic of Ireland can provide many of the advantages of a tax haven, both personally and at a corporate level, its extensive double taxation treaty network further creates a strong protection against the anti-avoidance provisions of other countries in a way that no tax haven could dream of! For those individuals wiling to relocate to Ireland, the SCF Group can also arrange your personal affairs in such a way that you need only pay Irish taxes on remitted income or, if you can live off your existing assets, no Irish tax at all and yet fully benefiting from Irish tax treaty protection. For more information please contact a SCF Consultant today.

COUNTRY FACTS

Location: The Republic of Ireland is located west of Great Britain across the Irish Sea. Ireland is a combination of flat or rolling midlands surrounded by mainly mountainous or hilly coasts – The country is world famous for its beauty and dramatic scenery. Landmass, 70,282 sq. km. (27,136 sq. miles) – Slightly larger than the Netherlands, Belgium and Luxembourg combined

Population: 4,400,000 (Estimate 2007)

Development: Ireland boasts a vibrant, globalized economy, with GDP per capita second only to Luxembourg's in the EU. The "Celtic Tiger" period of the mid-late 1990s saw several years of double-digit GDP growth, driven by a progressive industrial policy that boosted large-scale foreign direct investment and exports. GDP growth dipped during the immediate post-9/11 global economic slowdown, but has averaged roughly 5 percent yearly since 2004, the best performance for this period among the original EU 15 Member States. Since 2004, the Irish economy has generated roughly 90,000 new jobs annually, attracting over 200,000 foreign workers, mostly from the new EU accession states, in an unprecedented immigration influx. The construction sector has accounted for approximately one-quarter of these jobs, and economists caution that any slowdown in Ireland's vibrant housing market would have ramifications for continued GDP growth * Source = The US Department of State

Capital city: Dublin - Population of the greater metropolitan area is approximately 1,160,000. Famous for its writers such as Swift, Sheridan, Goldsmith, Burke, Wilde, Joyce, Yeats, Shaw, and Beckett who have made a major contribution to world literature over the past 300 years.

Currency: One of the original-founding members of the Euro currency

Education level: The Republic of Ireland has one of the most educated workforces in Europe with a government determined to maintain investment to a high level in both secondary and tertiary education.

Language: The official language of the Republic of Ireland is Gaelic but English is the principal language of communication and commerce.

Legal system: Ireland uses the ‘common law’ legal system also used by the United States, Canada and United Kingdom.

Trade Bloc' membership: Ireland joined the European Union in 1973, with the UK and Denmark. It is the second wealthiest country in the European Union with a Nominal GDP per capita of US$38,812. However, from a personal wealth perspective Irish individuals have the greatest individual wealth of any Western country being almost double that of the United States and significantly higher than the United Kingdom, France or Germany

Exchange controls: None