Ireland is a strategic gateway jurisdiction for US multinationals seeking unfettered access to the lucrative EU single market. With its favorable business environment and prominent role as a global business hub, Ireland continues to attract and support American companies looking to establish a strong foothold in Europe and tap into its vast economic opportunities.
Alan Connell, Managing Partner of Eversheds Sutherland in Ireland, the country’s only full-service, global law practice with an all-island presence and multidisciplinary expertise, stated, “Ireland offers a powerful combination of benefits, including a pro-business attitude, a talented and adaptable English-speaking workforce, and competitive tax rates.”
Managing Partner
Eversheds Sutherland in Ireland
Connell further emphasized that, “Ireland’s proximity to the US with direct flights, enables American corporations to conduct business in Ireland efficiently. Furthermore, having the necessary physical, legal, regulatory, and commercial infrastructure of a highly developed OECD jurisdiction makes Ireland an attractive destination for multinationals to do business in Europe and beyond.
“As such, the outlook for Ireland remains positive as multinationals, together with their leadership teams, can avail of the possibilities presented to unbundle the traditional value chain of international business, as they seek to locate appropriate profit generating functions in Ireland. Consequently, Ireland continues to remain the jurisdiction of choice for internationally focused companies, and their global leadership, looking to break into European markets and beyond, particularly for the US and other global multinationals, and this is a trend we see continuing.”
A Favorable Legal System
Ireland’s legal system is renowned for its fairness, transparency, and predictability. The country’s common law tradition, based on English law principles, ensures a familiar and consistent legal framework. Ireland’s judiciary is also highly regarded, instilling confidence in the legal process and the resolution of disputes.
Connell emphasized, “Our courts provide a high standard of legal expertise, and our commitment to the rule of law ensures a stable environment for businesses to thrive. And despite growing complexities and challenges in the global landscape, Ireland is committed to offering certainty in an uncertain world.” In addition to offering certainty of legal and tax treatment, the country’s long standing commitment to EU membership and access to the EU single market makes it an ideal jurisdiction for internationally focused companies.
Connell acknowledged, “Brexit has played a role in enhancing Ireland’s attractiveness as an investment destination. With the UK’s exit from the EU, Ireland has become an even more appealing jurisdiction for foreign direct investment. While Brexit itself is not a welcomed situation for the Irish economy, it has positively impacted Ireland’s FDI landscape attracting American corporations looking to invest in the EU, including those previously based in the UK.”
Ireland’s attractiveness as a legal base and jurisdiction of choice for international businesses is undeniable. Its robust legal system, favorable corporate tax regime, talented workforce and strategic location within the European Union make it an ideal destination for companies seeking stability, growth opportunities, and access to a vast market. With Eversheds Sutherland’s extensive experience and expertise in Irish law, American firms can confidently navigate the legal and tax landscape and establish a successful presence in Ireland, setting the stage for prosperous business ventures in the heart of Europe.