Home Knowledge Ireland Update – November 2011

Ireland Update - November 2011

November 8, 2011

Welcome to the second edition of our Ireland Update – a review of recent Irish legal developments for our Continental European friends and contacts.

It was a pleasure to meet many of you at last month’s Fall Meeting of the International Law Section of the American Bar Association, hosted in Dublin, and we hope you enjoyed your visit to our capital city. William Fry was honoured to have been involved in the organisation of such a prestigious event at which a number of our partners were included in the line-up of speakers. William Fry also sponsored the ABA International Reception & Dinner at the Guinness Storehouse, where the guest of honour was our Taoiseach (i.e. Prime Minister), Mr Enda Kenny, pictured below with our Managing Partner, Myra Garrett.

Despite much negative media commentary on the European financial situation, the Irish economy is continuing to improve. Indeed, investment levels into Ireland are now at the highest level since 2002, and the first six months of this year saw a 40% increase in the number of new investors into Ireland when compared with the same period last year. Set out below is a selection of some of the rankings which show why Ireland remains the location of choice for foreign direct investment:

  • 1st for real corporate taxes (IMD Competitiveness Yearbook 2011)
  • 1st for skilled labour (IMD Competitiveness Yearbook 2011)
  • 1st for investment incentives (IMD Competitiveness Yearbook 2011)
  • 1st for business legislation for foreign investors (IMD Competitiveness Yearbook 2011)
  • 1st in Eurozone countries for doing business (Forbes 2010)
  • Europe’s number 1 R&D location from an after-tax cost perspective (Mazars ‘Review of Global R&D Tax Incentives’ Study 2010)

We hope you find this e-zine informative. If you have any queries or comments, please let one of us know.

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