With the UK’s decision to leave the EU, Dublin may be the next top choice for businesses looking at relocating their European headquarters. Even before the stirrings of a Brexit, the world’s largest technology firms were already eyeing Dublin as a haven for European expansion.
Ireland is well known for its competitive corporate tax rates, set deliberately low in order to attract innovative businesses. The Irish corporate tax rates are lower than those of many other EU countries, including the UK and France, and are a lot lower than those of the United States, which has the most punitive corporate tax regime among developed economies.
Low tax rates alone aren’t enough reason for business behemoths to move to Ireland. Access to educated, English speaking workers, business-focussed regulatory landscape, developed infrastructure and proximity to continental Europe makes it prime for businesses.
The UK’s decision to leave the European Union is another added incentive for businesses to set up in Dublin, which is closer and potentially more attractive than Paris and Frankfurt in terms of taxes and access to talent.
According to Instant Offices, Dublin’s sophisticated flexible workspace market is already becoming increasingly popular for both local and international businesses. A report in the Irish Times reveals plans for over 12 million square feet of office space to hit the Dublin market over the next five years, to cater for the expected increase in demand, post-Brexit.
Flexible workspace centres across Dublin boast occupancy levels of around 90 per cent. They charge top-end rates of up to €900 per workstation, which is a rate comparable to most areas in central London. Average desk rates are currently around half of this figure for the market as a whole, however.
Businesses currently with a European HQ in Ireland
- PopCap Games