Investment Opportunities in Ireland
Protection of Foreign Investment
Country Comparison For the Protection of Investors
|Index of Transaction Transparency*||10.0||6.0||7.0||5.0|
|Index of Manager’s Responsibility**||6.0||5.2||9.0||5.0|
|Index of Shareholders’ Power***||9.0||6.8||9.0||5.0|
|Index of Investor Protection****||8.3||6.0||8.3||5.0|
Source: Doing Business
Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action. **** The Greater the Index, the Higher the Level of Investor Protection.
Procedures Relative to Foreign Investment
- Freedom of Establishment
- Acquisition of Holdings
- Authorized, except for some sectors of activity.
- Obligation to Declare
- Please consult the Industrial Development Agency of Ireland (IDA) website.
- Competent Organization For the Declaration
- Requests For Specific Authorizations
- Potential investors are also required to examine the environmental impact of the proposed project and to meet with Irish Environmental Protection Agency (EPA) officials.
Office Real Estate and Land Ownership
- The Possibility of Buying Land and Industrial and Commercial Buildings
- Citizens of countries other than Ireland and other EU member states can acquire land for private residential purposes and for industrial purposes. Under Section 45 of the Land Act, 1965, all non-EU nationals must obtain the written consent of the Land Commission before acquiring an interest in agricultural land, though there are many stud farms and racing facilities in Ireland that are owned by foreign nationals. There are no restrictions on the acquisition of urban land.
- Risk of Expropriation
- Private property is normally expropriated only for public purposes in a non-discriminatory manner and in accordance with established principles of international law. State condemnations of private property are carried out in accordance with recognized principles of due process.
- Forms of Aid
- Ireland retains significant scope to grant investment aid under a new Regional Aid Map approved by the European Commission for the period 2007-2013. Further information on the website of the Department of enterprise, trade and employment.
- Privileged Domains
- The Border Midlands and West Region are classified as “economic development regions” and qualified for regional aid throughout 2007-2013. The South East sub-region (Wexford, Waterford, Kilkenny, Carlow and Tipperary South) is also qualified for regional aid throughout 2007-2013 on the basis of unemployment criteria specified by the European Commission.
- Privileged Geographical Zones
- Consult the list of privileged geographical zones on the website of enterprise, trade and employment.
- Free Zones
The Shannon duty-free Processing Zone: companies operating in the Shannon Free Zone are entitled to the following benefits: goods imported from non-EU countries for storage, handling or processing are duty-free; no duty on goods exported from Shannon to non- EU countries; no time limit on disposal of goods held duty-free; minimum customs documentation and formalities; no Value Added Tax (VAT) on imported goods, including capital equipment; choice of having import duty on non-EU product calculated on its landing value or selling-out price.
Foreign-owned firms in the Shannon Free Zone have the same investment opportunities as indigenous Irish companies. Duty-free exemptions are available also to companies operating in Ireland's major deepwater port at Ringaskiddy in County Cork..
- Organizations Which Finance
- The Key Sectors of the National Economy
- Household and Consumer Goods; Drugs and Pharmaceuticals; Electrical Power Systems; Building Products, Franchising, Medical Equipment, Computer Software, Agricultural Sector.
- High Potential Sectors
Advanced manufacturing projects in the ICT, Pharmaceuticals and Biopharmaceuticals, Medical Technologies, Engineering and Consumer Products sectors.
High value Internationally Traded Services sectors in Software, Shared Services and Customer Support activities
- Privatization Programs
- Ireland does not have a formal privatization program, but the Government privatized in September 2005 the state-owned national airline, Aer Lingus.
- Tenders, Projects and Public Procurement
Etenders, Irish Public Tenders
Tenders Info, Tenders in Ireland
Ted - Tenders Electronic daily, Business opportunities in EU 27
Sectors Where Investment Opportunities Are Fewer
- Sectors in Decline
- Net export contribution has declined due to some sector-specific issues (chemicals, ICT), the general deterioration in cost competitiveness in recent years and the strong Irish domestic demand. Since the Irish economy is not as diversified as large economies it is therefore particularly exposed to external risks.
Finding Assistance For Further Information
- Investment Aid Agency
Arthur Cox (corporate and business law, expertise in mergers, acquisitions and corporate finance).
- Other Useful Resources
Industrial Development Agency of Ireland
Department of Enterprise, Trade and Investment, Northern Ireland
- Doing Business Guides
Department on Enterprise, Trade and Employment
Ireland Commercial Guide 2010 - Buy USA
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