Why Move Your Company to Ireland?
Since 2016, there has been an influx of companies opening branch offices in Ireland, or new companies being launched altogether.
This has happened in large part because of Brexit – The UK’s intention to leave the European Union – which is scheduled for March 2019.
Perhaps because of this, 2017 was a record year for the number of start-up businesses in Ireland. According to The Journal.i.e., an average of 61 new companies were formed every day in Ireland in 2017, or 22,3544 new businesses in total.
Even before the Brexit vote in 2016, international investment in Ireland was on the rise – for example in 2015, it was reported that there were 700 US companies located in Ireland.
The Irish government has not been slow to encourage foreign businesses to invest in the country, for example by offering a very friendly corporate tax rate of only 12.5% - compared with 21% in the United States, for example.
The benefits of business foundation in Ireland
In addition to its very friendly corporate tax rate, there are several other reasons why Ireland is so attractive to both multinational and local businesses.
• English-speaking country
• Excellent infrastructure with three airports: Dublin, Cork, and Shannon
• Possessor of a global carrier network: DPD, DHL, GLS, UPS and An Post (Ireland’s postal service)
• Member of the EU, with possible access to the UK via a soft border with Northern Ireland, although this remains to be seen.
That list benefit is somewhat nebulous, given the chaos in the UK at the moment regarding Brexit, and whether it will be a “hard exit” or a “soft exit,” or even if a new referendum will take place and British votes will decide to stay in the EU.
Although access to the UK and indeed the EU is not a small thing, it is only one of several benefits that Ireland has for businesses that choose to locate here.
The Irish government is actively encouraging foreign investment in the country, facilitated by Enterprise Ireland as a central stopping point, not only for Irish businesses wanting to expand into world markets but also for foreign businesses to establish a presence here.
If you’re a company that likes to follow the crowd, consider that in the tech field, the following companies have set up EMEA Head-quarters here:
Google, Facebook, Microsoft, LinkedIn, Intel, Hubspot, Salesforce, Marketo, Indeed, Wrike, Slack, Dropbox, Intercom, Apple.
Ecommerce is booming in Ireland as well, with Amazon, Etzy, Paypal, eBay, Scurri, Ryanair, Wish, Zolando, AirBnB, Micks Garage, Schoolbooks, eShop World and Groupon all headquartered in Dublin.
And then there’s fulfil…Autofulfil
Sorry, we couldn’t resist.
Autofulfil was founded to partner small and medium ecommerce companies initially, companies that need on the ground services to not only store product, process, pick and pack orders, but ship them as well, all with a very competitive fee structure.
Underpinned by expertise Autofulfil integrates with numerous Ecommerce platforms, like Shopify, WooCommerce, Magento, Linnworks to name a few. The end-to-end Fulfilment process for Online retailers is enhanced with our Warehouse Management Software.
Interestingly, Business-to-Business (B2B) customers are seeking out fulfillment partners in Ireland for SLA continuity, fuelled by Brexit. Autofulfil has witnessed a spike of enquiries and new customers in this space since 2017.
Join our booming economy
“Ireland is doing well right now.” That’s the conclusion of Victor Duggan of thejournal.ie, in his article previewing Ireland’s economy in 2019
Brexit looms over the equation, of course, but chances are that Ireland will be the go-to country in the EU once the UK has left.
Conor Pope from The Irish Times wrote that Amazon advised customers to have inventory in place at EU fulfilment centres and says they should have “the standard recommended minimum of four weeks of inventory coverage at all times”.
Do your research, and investigate Ireland, and judge for yourself if starting or migrating a business to Ireland will reward your efforts and mitigate against risks associated with Brexit.