In its November Brexit Breakfast Briefing, Mr Séan Kavanagh, Managing Director of Company Formations International Ltd, Ireland’s foremost company formation, company secretarial and corporate administration specialists, draws attention to the fact that since June of this year there has been 297 companies, which have one or more UK based Directors, incorporated in the Rep. of Ireland,
These new companies encompass a wide range of industrial activities ranging from Aircraft leasing to Internet companies to finance companies. They also include professional service firms, of which three are accountancy firms, two are tax consultants and one is a law firm. No less than 18 of these companies have chosen to register as the new form ‘Designated Activity Company,’ which means that have a very specific purpose in forming a company in Ireland.
A quick glance down the names of these post BREXIT Irish incorporated companies shows a number of companies with a European dimension in their registered name, such as, Murgitroyd (Europe) Limited, Insight Trans Logistics (Europe) Limited, Bristol Groundschool Europe Limited, It Governance Europe Limited, Lifestyle Holidays Limited and more. Mr Kavanagh confidently expects this trend to accelerate as the countdown to BREXIT continues.
“Ireland is a hugely exciting country in which to form a company in right now”, say Kavanagh, who points out that two short years ago Ireland was ranked by Forbes as the best country in the world in which to do business. Amid decided corporate tax advantages plus an extensive network of over 50 Double Taxation Treaties, including one with the US, Ireland is now solidly positioned in the top ten most competitive economies in the world.
Add to this the newest consolidated company legislation in the world (Companies Act 2014), the hugely attractive low capitalisation costs, when compared with most EU jurisdictions, plus an increasingly good tele-communications and transport infrastructure, the word is out globally that Ireland was a very attractive place to form a company.
The more you looked into Ireland, and the deeper you dig for rock hard statistical information to support a decision to form a new company in Ireland, the more advantageous Ireland becomes. You unearth such nuggets of information as the moment BREXIT happens Ireland will become the only fully English-speaking jurisdiction in the Eurozone. This is a considerable advantage for US companies trading into the EU.
About Robert Hayes-M cCoy Ltd:
Robert Hayes-McCoy is one of Ireland’s leading copywriters. His marketing copy has won many national and international awards, including the best of American Echo awards, best of Europe FEDMA awards, best of Ireland DMA awards for excellence in marketing copywriting. He is in regular demand as a trainer in promotional writing and is the author of the popular speech website www.need-a-speech.com.