Is Ireland a Good Place for Startups?
Yes, it is. Startup support is robust in Ireland, and we have reasons for that. Ireland is ranked as the third-best country in Europe for startup entrepreneurs. Ireland startup visa is the most popular choice among ambitious foreign entrepreneurs looking to launch innovative businesses. The country is known for its excellent environment for startups and for supporting their growth and prosperity.
Ireland emerges as the most loved destination in Europe for new startups due to its promising best business climate, a low corporate tax rate of 12.5%, a highly-educated workforce, with 34% of citizens completing third-level education, and the highest GDP rate in Europe.
Reasons to do business in Ireland
- Ireland’s historical and geographical advantage makes this country an attractive choice for tech companies.
- Ireland is the only English-speaking country in the Eurozone. Ireland’s strategic location between Europe and the USA allows leading businesses to capitalize on both markets.
- The Irish government provides full support to businesses by offering one of the lowest corporation tax rates in Europe at 12.5%.
- Technology companies can avail of a 25% tax credit for research and development costs.
- Ireland has double taxation agreements with over 60 countries.
- The world’s top ten medical technology companies, Boston Scientific and Medtronic, are established in Ireland.
- World’s leading pharma companies, including Pfizer, Amgen, Johnson & Johnson, Roche, Novartis, Sanofi, and Bristol-Myers Squibb, have a presence in Ireland.
- Ireland boasts a great ecosystem of accelerators, business investors, incubators, offering pre-seed investment, office space, and all kinds of mentoring support to carry out business operations for startup owners.
Ireland Startup Visa- An Overview
Launched in 2012 by the Irish government, Ireland startup visa allows foreign entrepreneurs to start their innovative business in Ireland. As part of the Ireland business immigration program, the startup visa can help overseas business owners to apply for permission to establish their business and settle in Ireland permanently.
Who is eligible?
You may apply if you are:
- A person of good character
- Have not been convicted of criminal offenses in any jurisdiction
- Have the required €50,000 funding available
- Have an innovative business proposal.
Irish Startup Visa- How to Apply?
Step 1: Submit the online application
For online application, you must submit the following documents via email:
- Completed STEM application form
- Supporting documents are listed in the guidelines, including the proof of available funds of £50,000. You must also disclose the source of your funding.
- A business proposal outlining your innovative business idea.
Step 2: Pay the application fee
In this step, you are required to pay the application fee of £350 online. The fee is non-refundable. Your application will not be processed until you pay the fees.
Once everything is done, an independent evaluation committee will assess the suitability of your proposal for the Ireland investment program. The evaluation committee will consider might also ask for additional information if required. It will also recommend the Minister for Justice if your proposal is found suitable.
To sum up, all we can say is come to Ireland, start your company, and see your business thrive in the Irish economy. You will not regret it!