Economy of Ireland

The economy of Ireland is a unique economy. It is a knowledge economy. The economy of Ireland is focussed on to services into high technology life science industries and financial services industries.

The economy of Ireland is an open economy. Ireland comes 6th on the Index of Economic freedom. The economy of Ireland ranks first for flows of high value foreign direct investments.

Ireland economy ranks 5th out of 187 economies in the world IMF table, in global GDP per capita. Ireland economy ranks 6th out of 175 economies in the ranking given by the World Bank.

The economy of Ireland depends significantly on the United States multinational companies. It makes up 14 of the top 20 Irish companies by turn over, directly employing 25% of the labour force from private sector. They pay 80% of the business taxes in the country.

Ireland as a country has a mixed economic system. This mixed economic system includes a variety of private freedom. This private freedom is combined with centralised economic planning of Ireland. This includes Government regulations. Ireland is a country which is a member of European Union.

The major industries which help the Irish economy run are Agriculture, Beverages, Chemicals, Fertilisers, Clothing, Construction, Electronics and Data Processing industries. The industries of Food Processing, Machinery, Pharmaceuticals, Textiles and Tourism are also the major industries in Ireland.

The major exports from Ireland are Chemicals, Computers, Its Equipment, dairy Products, Instruments, Livestock Machinery, Meat, Textile Yarn and Fabrics.

The major economic resource in Ireland is its very large fertile pastures. These pastures are mainly in the mid lands and southern regions in Ireland. Ireland exported around British Pound 9 billion worth of Agri products, which includes food and drinks, in the year 2012. These products estimate about 8.4% of Ireland’s total exports. These constitute mainly beef, cattle and dairy products.

Why form an offshore company in Ireland?

Ireland’s tax regime is one of the lowest among the developed countries in the world. It also has various tax treaties due to which it is listed on the OECD’s white list. 12.5% is the tax on trading income and 25% is the rate on non-trading income. Incorporation of a company is also very simple and effective.

Form an Offshore Company in Ireland

Benefits of Forming an Offshore Company in Ireland

  1. Double taxation treaties with major countries
  2. Least taxes levied on corporations among the developed countries
  3. Company formation within 4 days
  4. No maximum limit on authorized capital
  5. Minimum government fees is 60 Euros