CURRENCY
BUSINESS OPPORTUNITIES IN IRELAND
IRELAND




FLAG

IRELAND
CAPITAL CITY

DUBLIN

EURO
Language

Population

49.96 LAKHS
Country
Calling Code

+353
LOCATION:

NEUROPE
BORDER COUNTRIES:
UNITED KINGDOM
IRISH
ABOUT IRELAND
Amongst all the countries in Europe, Ireland, officially the Republic of Ireland, is an island nation located in Northwestern Europe, in the Atlantic Ocean. It is celebrated for its lush green landscapes, rich cultural heritage, vibrant cities, and a dynamic, open economy that has become a hub for global multinational corporations. The capital of Ireland is Dublin, which is its largest and most populous city, serving as the country’s primary economic, cultural, and administrative center. According to the World Bank, Ireland is classified as a High-Income Economy, consistently ranking among the wealthiest nations globally, driven by its strong foreign direct investment (FDI) inflows and significant exports. The currency of Ireland is the Euro (EUR). As of today’s exchange rates (June 2025), 1 Euro is approximately 89.85 Indian Rupees. The population of Ireland is estimated to be around 5.2 million in 2024. Its neighbouring country is the United Kingdom (specifically Northern Ireland, with a land border), and it shares maritime borders with the UK, France, and other European nations. The official languages of the country are Irish (Gaeilge) and English, with English being universally spoken and the primary language for business. The majority of the Irish population practices Roman Catholicism, with a significant portion identifying as non-religious, and smaller communities of other Christian denominations. Currently, Ireland has several international airports, with Dublin Airport (DUB) being the primary international gateway. Other international airports include Cork (ORK) and Shannon (SNN), providing excellent global connectivity. As an island nation, Ireland has several key commercial seaports, including Dublin Port, Cork Port, Shannon Foynes Port, and Waterford Port, which are vital for facilitating international trade and passenger traffic.
The corporate income tax rate in Ireland is 12.5% for trading income, which is one of the lowest statutory corporate tax rates in the world for active trading income. A higher rate of 25% applies to passive income (e.g., rental income, investment income). Ireland offers a highly attractive environment for foreign direct investment due to its competitive tax regime, talented workforce, and pro-business government policies. Key incentives include a generous R&D tax credit (up to 25% for qualifying expenditure), a knowledge development box (KDB) offering an effective 6.25% tax rate on qualifying intellectual property income, and various grants and support from state agencies like IDA Ireland and Enterprise Ireland for job creation and strategic investments. Opesh Group of companies will be helping you in completing the Due Diligence process which includes financial planning, registration process, business options, and if required, even helping you find a rental property for your office.
Establishing a business in Ireland is straightforward and efficient, benefiting from a common law legal system and a highly supportive regulatory environment designed to attract international companies. IDA Ireland is the government agency responsible for attracting and retaining foreign direct investment. A foreign investor who is planning to start his business in Ireland can form various company types, with the most common being a Private Company Limited by Shares (LTD) or a Designated Activity Company (DAC). A Private Company Limited by Shares (LTD) is the most popular choice due to its simplicity, allowing 100% foreign ownership with no minimum share capital requirement, making it ideal for most foreign entrepreneurs. Ireland’s legal framework is robust and aligned with EU directives, offering a secure and predictable environment for businesses.
In case an investor is planning to establish an LTD in Ireland or a corporate business setup, Opesh Group will be helping you in taking the right decision for setting up your business in Ireland and we will also guide you about how to follow the procedure while formulating your company in Ireland.
Types of Business which can be started in Ireland:
- Information & Communication Technologies (ICT): Ireland is a major European hub for global tech giants (Google, Apple, Microsoft, Meta, Amazon, etc.) and a thriving startup ecosystem. Opportunities are immense in software development, cloud computing, cybersecurity, AI, data analytics, FinTech, and IT services.
- Life Sciences: A global leader in pharmaceuticals, biotechnology, and medical technology. Opportunities exist in R&D, manufacturing of innovative drugs and medical devices, clinical trials, and digital health solutions, leveraging its strong research base and talent pool.
- Financial Services: Dublin is a significant international financial services center (IFSC), particularly for funds (Ireland is a global leader in fund administration), aviation finance, insurance, and FinTech. Opportunities are in specialized financial services, regulatory technology, and supporting services.
- Engineering: Strong sectors in advanced manufacturing, precision engineering, and professional services. Opportunities exist in specialized manufacturing, industrial automation, and engineering consultancy.
- Agri-Food: Ireland is a major exporter of dairy, meat, and seafood. Opportunities in sustainable food production, food technology (e.g., food processing innovation), value-added food products, and specialized ingredients.
- Renewable Energy: Significant potential in offshore wind, wave, and tidal energy. Opportunities exist in developing renewable energy projects, smart grid solutions, and associated technologies.
- Education & Training: As a major English-speaking EU country, opportunities exist in higher education, vocational training, and specialized professional development programs.
Advantages of Starting Business in Ireland:
- Highly Educated & English-Speaking Workforce: A young, highly educated, and adaptable talent pool, fluent in English.
- Competitive Corporate Tax Rate: The 12.5% rate on trading income is a major draw for international businesses.
- Gateway to the EU Single Market: Full EU and Eurozone membership provides seamless access to a market of over 450 million consumers.
- Pro-Business & Transparent Environment: A stable political system, strong regulatory framework, and government agencies highly supportive of foreign investment.
- Strong Innovation & R&D Ecosystem: Significant investment in R&D, world-class universities, and a thriving startup scene.
- Strategic Location: Provides a direct link between Europe and the USA.
- Robust IP Protection: Strong legal framework for intellectual property rights.
Business Opportunities for Indians in Ireland:
There are excellent business opportunities in Ireland for new investors who are planning to start their business abroad. Ireland’s position as a leading FDI destination, its English-speaking environment, and its vibrant innovation ecosystem make it particularly attractive for Indian companies. Indian investors with strengths in IT services (especially software development, cloud, and cybersecurity), pharmaceuticals (R&D and manufacturing), FinTech, and engineering services can find significant avenues for investment, technology partnerships, and market entry into Europe. There’s also potential for collaboration in the education sector.
Imports & Exports:
Ireland is a highly open economy with a strong export orientation, particularly in high-value goods and services.
Major items which are exported from Ireland to India:
- Pharmaceutical products (including bulk drugs and formulations)
- Organic chemicals
- Medical and surgical instruments
- Machinery and mechanical appliances
- Electrical machinery and equipment
- Optical, photographic, cinematographic, measuring instruments
Major items which are imported in Ireland from India:
- Pharmaceutical products
- Organic chemicals
- Textile yarns and fabrics, articles of apparel
- Machinery and mechanical appliances
- Agricultural products (e.g., rice, spices, tea)
- Footwear
- Iron and steel products
Manufacturing:
Opportunities in manufacturing are heavily concentrated in high-value, specialized sectors, especially in pharmaceuticals, medical devices, and high-tech electronics. Ireland serves as a major manufacturing base for global life sciences companies, driven by its competitive corporate tax rate, skilled workforce, and robust regulatory environment.
Mining:
The mining sector in Ireland is relatively small but includes the extraction of zinc, lead, and some aggregates. While there are active mines, it is not a primary sector for large-scale new foreign investment compared to Ireland’s services and high-tech industries. Opportunities are limited and typically focused on existing operations or niche exploration.
Major Indian companies which are currently working in Ireland:
Ireland is a significant European base for many large Indian companies, especially in the IT and pharmaceutical sectors, leveraging its talent pool and favorable business environment.
- Tata Consultancy Services (TCS): Has a substantial presence, providing IT services and solutions.
- Wipro: A major Indian IT services and consulting firm with operations in Ireland.
- Infosys: Also operates in the Irish IT consulting and services market.
- Tech Mahindra: Provides IT and network technology solutions.
- Lupin Pharmaceuticals: Has a significant presence in the pharmaceutical market.
- Wockhardt: Also has operations in the pharmaceutical sector.
- Biocon Biologics: Has a presence, particularly in the biosimilars segment.
- Other IT and R&D focused Indian firms: Many smaller to medium-sized Indian IT, engineering, and R&D service providers also have operations or partnerships in Ireland.
- GDP = $565 billion (nominal, 2024 est.)
- GDP Growth = 1.0% (2024 est.), 4.0% (2025 est.)
- Ease of doing business rank = Not directly ranked by the World Bank’s ‘Doing Business’ report (discontinued), but consistently ranks very highly in global competitiveness and business environment indices (e.g., 24th in the last WB DB report in 2019).
- GDP per Capita = $108,600 (nominal, 2024 est.)
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