Ireland: Your gateway for global business success
Why Ireland?
Ireland offers a relatively streamlined process for company incorporation, tax registration and tax payment. Company incorporation is a reasonably quick process, often within 5 days, with minimal red tape compared to other countries. You can also register and open your business online.
As a member of the EU, Ireland benefits from the single market, allowing free movement of goods, services, capital, and people across the EU, including access to a market of over 500 million consumers.
However to ensure smooth and successful establishment here are some key factors to consider
The U.S. has long viewed Ireland as a gateway to Europe, with American investment dating back to 1917 when Henry Ford established a manufacturing base in Cork. Today, U.S. technology and pharmaceutical multinationals dominate Dublin’s skyline
Ireland is home to 9 of the top 10 US technology companies, 9 of the top 10 pharma companies, and 14 of the top 15 MedTech companies
In the past 18 months, 80 new US market presences have been established by Irish companies backed by Enterprise Ireland, particularly in the tech and medical technology sectors
US goods exports to Ireland surpass $16 billion, including pharmaceuticals, electronics, aircraft, medical devices, and power generation technology, with service exports to Ireland exceeding $84.3 billion.
In 2023, Ireland was the 6th largest source of Foreign Direct Investment (FDI) into the United States, with investments valued at approximately $322 billion (Statista).
Conversely, US investment in Ireland totalled $574 billion in 2022, with nearly 1,000 U.S. firms employing 211,000 people in the country.
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Sectors and Services
Baker Tilly serves clients in a diverse array of sectors, demonstrating its versatility and deep industry knowledge.
Financial Services: A global leader in Banking & Fintech
- Ireland is home to 17 of the world’s top 20 banks.
- Ranked as the 6th largest exporter of financial services globally.
- Hosts 11 of the top 15 global insurers, the top 5 global reinsurers, and the top 3 global insurance brokers.
- Over 430 financial services companies operate in Ireland.
- The industry employs more than 47,000 people.
- Financial services exports exceed €11 billion annually.
- Contributes €2 billion in payroll and spending on Irish-sourced materials.
- A key hub for innovation in payments, fintech, and emerging financial technologies.
- Strong capabilities in software engineering, AI, blockchain, cybersecurity, and robotic process automation (RPA
Technology: A global hub for innovation
- Ireland is home to 16 of the world’s top 20 tech companies, including the top three enterprise software providers.
- The ICT sector employs over 106,000 people.
- Half of all tech companies in Ireland have been established for over a decade, with 33% operating for more than 20 years.
- With a 70+ year track record of attracting and retaining toptier foreign direct investment, Ireland remains a leading tech destination.
- Over 40 companies in Ireland are actively developing or implementing AI technologies.
- The country boasts strong expertise in blockchain, cloud computing, cybersecurity, data analytics, software engineering, and more.
- Ireland offers highly competitive financial incentives for investors conducting R&D.
- Thriving industry clusters foster collaboration between corporations and researchers, driving innovation forward
Manufacturing: A pillar of Ireland’s economy
- Ireland is home to world-class manufacturing clusters spanning biopharmaceuticals, engineering, medical technology, building materials, and food production.
- In 2023, total goods exports reached €197.25 billion, with the sector contributing €13.7 billion in wages, €3.03 billion in income tax, and over €10 billion in corporation tax.
Infrastructure and engineering: A key driver of Ireland’s economy
- The engineering sector contributes over €5.6 billion annually to Irish exports.
- Ireland is home to the top 8 industrial automotive companies and 4 of the world’s top 10 engineering design firms.
- The country hosts more than 250 industrial technology and engineering companies.
- Over 23,000 people are employed in Ireland’s engineering sector
Pharmaceutical industry: A global leader
- Over 80% of the world’s top 100 multinational pharmaceutical companies have operations in Ireland.
- Ireland exports over €116 billion in pharmaceutical products annually.
- Ranked as the third-largest exporter of pharmaceuticals globally.
- Strong collaboration between companies facilitates the sharing of best practices.
- Active industry-academic partnerships drive innovation in technology, materials, and manufacturing.
- Home to 50 FDA-approved pharmaceutical and biopharmaceutical manufacturing plants
