Ireland offers many unique benefits for the establishment of your first overseas subsidiary, including modest tax rates, a strong IP regime, a highly educated workforce and an outstanding location within the Euro currency zone.
Also, as a common law jurisdiction with a sophisticated judiciary, Ireland offers comprehensive tax and legal protections for the creators and owners of intellectual property rights, attractive holding company rules and, with the assistance of IDA Irelandand Enterprise Ireland, generous grant assistance for research and development projects. As a committed member of the European Union, it has strong international links.
Ireland offers a very favourable tax regime for companies which set up operations in Ireland. The benefits include:
- Corporation tax rate of 12.5% for all trading income
- Corporation tax at 6.25% for trading profits from patented inventions and copyrighted software where the R&D activities are undertaken in Ireland
- a full tax deduction for the capital cost of acquiring intellectual property used for the purposes of a company’s trade
- no stamp duty on the acquisition of intellectual property
- tax deduction of 37.5% for expenditure incurred on R&D activities within the European Union, Iceland, Liechtenstein and Norway
- no withholding tax on interest and royalty payments to companies located in many jurisdictions including the U.S.A, Canada, the European Union and other tax treaty countries
- no Controlled Foreign Company legislation or thin capitalisation rules
- attractive holding company rules with regard to the receipt and payment of dividends and the disposal of subsidiaries
- advantageous Capital Gains tax treatment on the disposal by non-Irish residents of shares in Irish companies
- open and transparent tax system and fully co-operative/compliant with OECD guidelines/proposals
- a comprehensive tax treaty network which is continually expanding: Ireland has current agreements with 70 countries
INTELLECTUAL PROPERTY PROTECTION IN IRELAND
Owners and developers of intellectual property will find Irish law at the cutting edge of modern protection, meeting all the requirements of international law for patents, trademarks and copyright.
Irish Copyright and Enforcement
A copyright right holder seeking to enforce its rights in Ireland will benefit from a very responsive enforcement regime, including:
- search and seizure
- favourable presumptions that the plaintiff is the owner of copyright
- criminal penalties and
- wide availability of damages and injunctive reliefs
Internet distribution of original works is specifically protected in Irish law.
Do your apps require protection for their underlying technology or functions?
- Under the Irish Patents Act, full twenty-year and shorter term patents can be registered
- Patents can be registered through all three European systems by way of a single application, resulting in a bundle of national patents
- For those apps seeking protection for industrial designs, Irish law implements the EU Directive 98/71/EC on the Legal Protection of Designs
- Irish domestic design law has been specifically tailored to facilitate web industries
Trade marks are regulated in Ireland by the Trade Marks Act 1996.
- Ireland is party to the Community Trade Mark System, which provides for the registration of EU wide trade marks
- An owner of a trade mark, service mark, or logo, can achieve comprehensive protection for 10 years by registering their mark on the Irish Trade Mark Register, and then renew it for further 10 year periods.
E-COMMERCE IN IRELAND
Ireland’s Electronic Commerce Act 2000 gives legal recognition to electronic signatures and other information in electronic form, specifically electronic contracting, an important development not only for app and software developers, but for anyone trading “at a distance” online.
Ireland’s innovative Central Bank has corresponding supervision of Electronic Money Institutions.
The rapid growth of technology is seeing a wave of new opportunities which Ireland is perfectly positioned to support. Trends towards Cloud, Social, Mobile and Analytics have the potential for disruption across many existing categories.
Key sectors impacted by advances in technology that hold extensive opportunities include the
- Internet of Things
- Big Data
- Security Biometrics
- Smart Ageing
- Portable Services
- the Sharing Economy and
- Financial Technology
The return on investment (ROI) for US firms in Ireland has been estimated at 20.5% over the past decade, and many of the USA’s leading corporations have subsidiaries or operations in Ireland, including:
- 9 out of 10 global pharmaceutical & biotechnology companies
- 15 out of 20 of the top medical technology companies and
- 8 of the top ‘born on the internet’ companies
IRELAND IS THE IDEAL LOCATION.
SMART MBS IS THE IDEAL PARTNER and can ease your subsidiary business expansion into Ireland, by providing a one-stop shop & a tailor-made solution for your unique requirements.