Ireland (English & Chinese)

Caroline Devlin and Diyu Wu

Arthur Cox

Since 1990, US corporations have invested over US$277 billion into Ireland (more than their total investment in the BRIC countries). The very same reasons and benefits that US and other multinationals' investments enjoy make Ireland equally appealing to Chinese companies seeking to expand their worldwide operations. A summary of the highlights of Ireland as an investment destination is set out below.

Ireland is a member of the EU and OECD and is the only English speaking member of the Eurozone. Ireland has a developed legal system and tax structure. It also has an extensive list of double taxation treaties, including a comprehensive double taxation treaty with China. Like the US and UK, Ireland is a common law jurisdiction and its legal concepts are recognised by most investors. Ireland is an onshore jurisdiction with top class professional and administration services available locally. It is also a flexible jurisdiction in terms of company law, regulation and tax. Geographically Ireland is well placed as a bridge between China and the US, and a first stop from the US into Europe.

The Irish Government is keen to support foreign direct investment (FDI) into Ireland and has established government departments specifically to facilitate FDI into Ireland – including the Industrial Development Authority (IDA) and Enterprise Ireland (EI) which have representative offices in most locations. These departments work closely with businesses looking to invest in and out of Ireland. They can introduce a business to Ireland and, in certain circumstances, provide incentive grants, particularly for certain types of operations in parts of Ireland that can offer employment.

With the long established history of inbound investment into Ireland from many jurisdictions (such as the US or UK), Ireland has a well-developed system to facilitate investors. This ranges from investor friendly laws, which respect and protect investment, to well experienced advisors to guide an investor safely and with ease through the process.

Inbound investment into Ireland spans various different types of industries and interests. From China, there has been a significant interest in the area of aircraft leasing, and many of the major Chinese banks have established aircraft leasing platforms in Ireland. Ireland has also seen significant investment by pharmaceutical companies and other types of companies looking for a base as a holding company. Many of the top international software companies have located some or all of their intellectual property (IP) in Ireland. Financial services are well developed in Ireland and most of the major international financial services entities have a presence in Ireland, such as in the area of regulated funds, insurance or securitisation.

Some of the multinationals that have chosen Ireland in recent years include: