DOING BUSINESS IN THE UK, NORTHERN IRELAND AND THE REPUBLIC OF IRELAND

DOING BUSINESS IN THE UK, NORTHERN IRELAND AND THE REPUBLIC OF IRELAND

Increasingly companies are selecting the United Kingdom or the Republic of Ireland as their strategic base from which to expand into the European market.

46% of companies we asked have operations or are considering setting up operations in the UK or the Republic of Ireland.

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Both countries are great places to do business.

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In January 2016, the World Bank rated both the Republic of Ireland and the UK in the top 20 “Best Countries for Doing Business.”

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REPUBLIC OF IRELAND: #17

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UNITED KINGDOM: #6

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Being so close to Europe — with good transport links via road, rail, sea and air — both countries are attractive bases from which to do business.

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The 28 EU member states are a huge market. Having a base in the UK or Ireland provides easy access to that market.

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Many of the trading practices, regulations and standards apply throughout the EU,

and key tasks such as accounting for value added tax have also been simplified to

facilitate trade between member states.

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> It’s one of the most trusted jurisdictions for doing business in the world

> It has an extensive tax treaty with year-on-year tax reductions (which now stand at 20%)

> A UK company can be established quickly, in some cases in just one business day

> The corporate tax rate currently stands at 20%

WHY DO BUSINESS IN THE UK?

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> It is one of the longest established low-tax jurisdictions within the EU

> Its 12.5% corporate tax rate has attracted many multinationals, including Adobe, Amazon, Apple and Facebook

> 9 out of 10 pharmaceutical companies are located in Ireland

> A company can be established in approximately 5 to 10 business days

WHY DO BUSINESS IN IRELAND?

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Legislative requirements do vary across the UK countries of England, Wales, Scotland and Northern Ireland.

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For example, sometimes only a portion of UK laws will apply in Northern Ireland and laws may have varying effective dates.

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The Republic of Ireland has its own legislative and regulatory frameworks that are distinct from the UK’s.

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These differences will affect many areas of doing business depending on whether you establish operations in the Republic of Ireland or the UK …

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… such as how you structure employment contracts and your mandatory obligations around pensions, paid time-off and unfair dismissal rights.

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A proper strategy that accounts for the host country’s unique regulatory requirements is critical for successful

operations in either jurisdiction.

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To learn more about the differences and similarities between these two destinations, view “Differences and

Similarities: Doing Business in the UK and the Republic of Ireland" today.

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