Ireland Set to Become the Largest Common Law Jurisdiction in the EU Post-Brexit
There is a strong initiative across the Irish legal sector to promote Ireland as a convenient and appropriate hub for international transactions
Maples Group is a leading service provider offering clients a comprehensive range of legal services for the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg. The Group is an independent provider of judiciary, fund services, regulatory and compliance, entity formation, and management services.
What is your outlook for Ireland as a gateway for American FDI and operations in Europe?
Corporations have long valued Ireland as an English-speaking country, with a highly educated workforce, competitive tax system, and trusted legal system. Ireland offers a very interesting ecosystem given the number of overseas multinational companies, including massive tech firms, choosing Ireland as a base for European operations. Ireland will remain an attractive place for international business in years to come.
How do you assess Ireland’s legal sector?
Post Brexit, Ireland will become the largest common law jurisdiction in the EU. Ireland’s court system is efficient, pro-business, and the professional services sector has gained a strong global reputation as a center of excellence. Multinationals should remember the benefits the Irish legal sector can offer when considering basing operations abroad.
The sector provides business advantages to the North American market in particular because of the similarities between the common laws in the US and Ireland, and of course, English as a shared language. This familiarity around the underlining fundamental legal system is valuable when choosing a jurisdiction. People also like the certainty of Irish courts. There is a strong initiative across the Irish legal sector to promote Ireland as a convenient and appropriate hub for international transactions. There are exceptionally high standards for legal services in Ireland, and it remains a highly competitive market.
How are you positioning your services for multinationals?
Maples Group is a first class, leading international law and financial services business with vast experience advising the international financial services sector. Dublin is our second largest global office with a total headcount of 415. Our Group has 18 worldwide offices with a global staff headcount of almost 2,000 people from San Francisco to Shanghai, under a global umbrella that is specialized on five jurisdictions, and can give legal advice across the globe.
Maples Group distinguishes itself with a client-focused approach, providing solutions tailored to a client’s specific needs. Our global network of lawyers and industry professionals are strategically located in the Americas, Europe, Asia and the Middle East, to ensure clients gain immediate access to expert advice and bespoke support, within convenient time zones. We can cater to clients’ needs on multiple levels. We are an entrepreneurial business, and are always willing to look at new service lines. We grow and develop as a group alongside our clients.
How attractive is Ireland as a base?
Over the past several years with Brexit looming on the horizon, there has been a notable shift of UK businesses moving part of their operations to Ireland, particularly Dublin, in order to maintain stable access into the EU marketplace. It is estimated that of the financial services groups who have relocated a part of their business as a result of Brexit planning, 30% have selected Ireland as their new hub for business. The overall attractiveness of the country, in addition to the common law and professional services, makes Ireland stand out as an attractive destination for business.
