If you are considering relocating your business or setting up a branch in Ireland in order to preserve access to the single market, contact Sherwin O’Riordan LLP for expert advice.
The unexpected outcome of the Brexit referendum in the UK prompted a swift reappraisal of corporate relationships across Europe including Ireland. Companies across the UK faced a very difficult and fundamental problem. As of the date of leaving the EU, they would no longer have access to the single market.
The single market has brought growth and diversity to the British business environment since 1973. Any UK firm that trades with Ireland the rest of Europe will find their business model fundamentally changed.
The degree to which the new post-EU UK will have access to the single market remains floating and unresolved. It is likely however that domestic UK firms will be rendered isolated and excluded and the City of London’s position as key global hub for financial services will be permanently affected. . So for those businesses, the critical challenge is how to preserve access once the UK leaves the EU. Relocation to other European countries to maintain access has, and will, occur in the coming years and will serve as a practical solution for many.
Europe wide locations are under consideration by UK and multinational businesses for relocation – Ireland consistently presents an impressive array of qualities:
Ireland is an attractive location to many domestic UK or international firms but financial services companies in particular may be looking for a positive and practical solution to the Brexit problem:
Regardless of the particular industry seeking to invest in Ireland, relocating firms can expect to benefit from a pro-business environment:
Ireland represents a smart and economically sensible move for medium or large sized UK businesses to preserve their access to the single market and the euro. Ireland offers UK companies:
When considering investing in Ireland, there are a variety of practical issues that our specialist commercial solicitors and investment experts can help you with;
In order to do business in Ireland, you must be granted ‘business permission’ by the Irish Government. We will advise you on the relevant criteria.
Ireland offers a variety of programmes that are designed specifically for individuals looking to set up in Ireland. There are a variety of different schemes available. We are here to offer advice and guidance on the various schemes.
The structures in Ireland have been specifically designed to encourage foreign investment, and this extends to employment permits and the rules that govern them.
a) Intra-Company Transfer Permit
b) Critical Skills Employment Permit
c) General Employment Permits
The Irish Government operates a number of Employer Incentive Schemes to encourage employers, including foreign investor businesses, to employ their staff from the local population. We can advice on you all incentives available to you.
Private limited companies incorporated in Ireland tend to be the most common commercial entities foreign investors utilise. Certain criteria need to be satisfied:
You may decide that you do not want to incorporate a private limited company in Ireland to facilitate your investment. The alternative is to make use of a company incorporated outside of Ireland, and operate in Ireland via a branch office. A branch office, in Irish law, is a branch of a foreign company that operates in Ireland and:
As a result of changes in EU law, domestic companies and branch offices of foreign companies must now satisfy largely similar registration requirements.
Foreign investor businesses have the option of owning real estate in Ireland, if it proves to be a more attractive proposition than securing a commercial lease. Real estate can be owned either through the purchase of the freehold interest, or of a long leasehold interest. All businesses in Ireland are subject to certain restrictions on the purchase, development and occupation of real estate.
An alternative to purchasing real estate in Ireland would be to secure a commercial lease. The duration of commercial leases tend to range between five and twenty years. Our expert team will advice you on negotiating and concluding commercial leases.
Commercial leases commonly include break clauses, facilitating an exit from the agreement if you no longer deem it viable to operate your business from the premises. Other points to note regarding commercial leases include:
For many years Ireland has been focused on developing a business culture that protects businesses, and encourages investment and innovation. The intellectual property (IP) regime in Ireland has been specifically formulated to provide robust protection for businesses:
Copyright laws provide protection against infringement of a variety of works including original databases, literary, dramatic or artistic works, film and television programming.
There is no registration requirement for your business to enjoy copyright protection: the moment a particular work is created, copyright will exist. The duration of the copyright will however depend on the type of work in question.
Both designs and trademarks are protected where the necessary statutory criteria are satisfied. In addition to this protection, trademarks also benefit under common law. Registration may be achieved under the Irish, European or international registration frameworks.
Irish patent legislation is in keeping with comparator states. Where the requisite criteria are satisfied, patents can last for 20 years. It is possible to apply for shorter patent protection, allowing for some savings to be made by the business.
Ireland has a strong reputation for data protection. There is also a dedicated Data Protection Commission charged with overseeing the enforcement of data protection laws, designed to protect the data that is used by businesses.
At Sherwin O’Riordan LLP, we have a dedicated foreign investment team of solicitors that have specialist expertise in assisting businesses to relocate to Ireland. We regularly provide advice on how to establish a foothold in the country, which can be achieved through the registration of domestic companies or the operation of branch offices. We are also experienced in providing advice on seeking beneficial tax relief for investors.
Ireland ranks among the most competitive states in the world for businesses, alongside America, Japan and the UK. If you have questions about doing business in Ireland and want to speak to a lawyer that will provide you with bespoke, comprehensive legal advice, contact us today.
If you are considering relocating your business or setting up a branch in Ireland in order to preserve access to the single market, contact Sherwin O’Riordan LLP for an immediate response. Expert advice will be provided from one of our foreign investment team of solicitors. A detailed assessment of the nature of your business will form part of our comprehensive approach to setting up your business to take advantage of the many positive features on offer in Ireland. Our wide range of expertise encompasses regulatory requirements, company registrations, taxation advice, employment concerns and intellectual property law. Contact us today for advice on all your business needs.
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