The domestic and international financial services sector employs 70,000+ people.
- Ireland is the 4th largest exporter of Financial Services in the EU.
- Ireland services over €4.2 trillion of assets under administration.
- Ireland is the 3rd largest funds domicile in the world.
- Ireland is a recognised global Fintech hub.
- 11 of the top 15 insurance companies have a presence in Ireland.
- 17 of the top 20 global banks are based in Ireland.
- 14 of the top 15 global aviation lessors are located here.
- Over 60% of the world's leased commercial aircraft are owned or managed from Ireland.
- Only English speaking, common-law jurisdiction in the Euro zone.
- Availability of highly qualified staff.
- Efficient pro-business regulatory environment.
- Good tax treaty network.
- Access to the EU market of 500 million people.
- A low corporate tax rate at 12.5%.
- Highly developed infrastructure & telecommunications network .
- Excellent international air transport infrastructure.
The establishment of the IFSC in 1987 played a key role in kick starting a new era for the financial services sector in Ireland and succeeded in attracting leading names in the sector to establish operations here.
Why choose Ireland?
A number of other factors played a role in Ireland becoming a leading location for the financial services sector, these include:
- Skilled and Educated Workforce – talented and ambitious
- Fast moving, dynamic companies thrive in Ireland due to its unique workforce with 50% of the population under 25 years of age. They also profit from an experienced and skilled workforce which has decades of experience in the financial sector. This combination of youth and experience forges an ideal environment for leading financial companies.
- Regulatory Environment: The Central Bank of Ireland
- The Central Bank Reform Act, 2010, created a new single unitary body – the Central Bank of Ireland - responsible for both central banking and financial regulation. The new structure replaced the previous related entities, the Central Bank and the Financial Services Authority of Ireland and the Financial Regulator. The Act commenced on 1 October 2010.
- Low Corporate Tax Rate – offering competitive advantages
- Ireland offers a 12.5% Corporation Tax on all trading activities, with a comprehensive Double Taxation treaty network, combined with a range of other tax advantages such as Research and Development tax credits and patent royalty tax exemptions.