Complete guide to doing business in Ireland in 2025, for growing startups and entrepreneurs

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Ireland expansion overview Why expand business operations to Ireland? Challenges of doing business in Ireland How to set up a business in Ireland? Which cities and areas in Ireland are best for businesses? Business etiquette and culture in Ireland Tips for doing business in Ireland Grow your business in Ireland with Wise Business

Considering launching a startup in Ireland? Perhaps you already run a business in the UK and are thinking of expanding across the Irish Sea.

It’s a natural next step for many UK entrepreneurs, due to Ireland’s close proximity, shared language and the access it offers to the EU Single Market. But while it may have plenty to offer to new and growing businesses, you’re also likely to face challenges as a newcomer to the Irish market.

In this comprehensive guide, we’ll cover all the essentials you need to know about doing business in Ireland. This includes the benefits and obstacles, tips on business etiquette and corporate culture, and a look at some of the most business-friendly cities in Ireland.

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Ireland expansion overview

Research is key to success when expanding to Ireland, to understand local culture, business etiquette and regulatory requirements.

Consideration	Description
Opportunities/benefits	Access to the EU Single Market, government startup support, skilled workforce, low corporate tax, opportunities in tech
Challenges	Higher cost of living, small domestic market, stiff local competition
Most attractive cities for foreign entrepreneurs	Dublin, Cork and Galway

Why expand business operations to Ireland?

There are lots of reasons why UK businesses choose to expand their operations to Ireland. One of the most obvious is proximity, as the UK has strong transport and logistical links to the country via ferry terminals and airports. It also shares a language and many aspects of culture, which makes it easier for UK entrepreneurs to hit the ground running.

But there are many other benefits too, which we’ll explore in more detail below.

Access to the EU Single Market

One of the biggest advantages of expanding to Ireland has to be access to the EU Single Market. It’s the world’s largest single market, with a GDP of approximately €18.3 trillion and a population of around 450 million.¹

The EU has a unified currency, free trade between member countries as well as common standards and regulations for products and services. This makes everything from trade to compliance easier.

Government support for startups and SMEs

Ireland is known for its supportive business environment and innovative startup ecosystem. There are various government initiatives for startups in place, most spearheaded by organisations such as Enterprise Ireland and Local Enterprise Offices (LEOs) spread across the country.

This should make it easier to get advice, support and funding, as well as access to valuable business networks.

💡 See the best business startup grants in the UK

A skilled, highly educated workforce

If you’re looking for talent to drive your startup forward, Ireland is a fantastic place to find it.

The country boasts a highly educated, skilled population, with over 53% of 30-34-year-olds having a university degree or other third-level qualification - much higher than the EU average of 40%.² What’s more, around 30% of students are enrolled on STEM courses.²

It’s also useful to know that Ireland actively seeks out talent from overseas, through its Global Citizens 2030 programme.³ This should mean a fresh stream of skilled employees from across Europe joining Ireland’s workforce.

Low corporate tax rate

One of the most attractive reasons to start, expand or move a company to Ireland is its favourable business tax system. Its corporate tax rate is just 12.5%, one of the lowest in the world.⁴

This is one of the primary reasons it was named the best country in which to start a business in 2023, in an analysis by international insurance provider William Russell.⁴

Opportunities in tech

While Ireland is also known for manufacturing and exports, one of its fastest growing industries is technology - which makes up more than 13% of the national GDP.⁵

Dublin is the country’s major tech hub, especially its ‘Silicon Docks’ area, although Galway and Cork are hot on its heels thanks to their vibrant and growing tech communities.

A particular sign of confidence in the sector comes from Ireland becoming the home of ‘big tech’ over the last few years. Major corporations such as Facebook, Amazon, Apple and Google have a substantial presence in Ireland, with some making the country their main European bases.

💡 Read our international expansion checklist

Challenges of doing business in Ireland

While Ireland may present many exciting opportunities for UK entrepreneurs and growing startups, it also has its challenges. It’s good to be aware of these from the outset, so you know what to expect and can prepare accordingly.

Here, we’ll take a look at a few of the most common challenges UK startups face when launching in Ireland.

Higher cost of living

While it depends where in Ireland you set up shop, you might find that the cost of living is higher than you’re used to.

In general, cost of living (including rent) is nearly 15% higher in Ireland compared to the UK⁶ - and it could increase further if you’re based in an expensive major city like Dublin.

This can have an impact on day-to-day expenses and premises costs, as well as your ability to attract and retain the best talent - who may be tempted by cheaper costs elsewhere in Europe.

Small domestic market

While Ireland may offer the major strategic advantage of providing access to the EU Single Market, its own domestic market is relatively small at around 5.3 million people.⁷

This could limit your opportunities for growth, where you find you soon hit a ‘ceiling’ in terms of revenue and reach.

Stiff local competition

With Ireland’s domestic market being relatively small, newcomers may find it hard to carve out a niche and make an impact. Local competition can be intense, especially if you’re operating in a crowded sector like tech, manufacturing or financial services.

It could take time to gradually increase market share, as you build consumer trust and establish your USP.

💡 Learn more about navigating risks of international expansion

How to set up a business in Ireland?

The process of setting up an entity in Ireland generally involves the following steps:

• Market research and planning, including developing a comprehensive business plan and conducting feasibility studies
• Choosing a suitable business structure - in Ireland, options include:
  • Private company limited by shares (LTD)
  • Designated activity company (DAC)
  • Public limited company (PLC)
  • Unlimited company
  • Sole Trader
  • General Partnership
• Registering your business with the Companies Registration Office (CRO)
• Applying for the required licences and permits
• Establishing a physical or virtual office in Ireland
• Opening an Irish business bank account - you can also use an international account such as Wise Business.
• Register for taxes with the Revenue Commissioners
• Recruit and hire employees, ensuring your follow local employment regulations
• Set up financial and accounting systems
• Take out relevant business insurance

You may want to work with an international business consultant and/or a global company formation provider.

A specialist with knowledge of Ireland can help you navigate the process and understand the specific requirements for establishing a business there.

💡 Read our full guide to setting up a business in Ireland 🇮🇪

Which cities and areas in Ireland are best for businesses?

The part of Ireland you choose to start your business in will largely depend on your market research, as you’ll want to go where there are the most opportunities and demand for your product or service. You may also have connections to a particular town, city or region, or already sell there.

But generally speaking, some cities and areas in Ireland are more attractive for UK-owned startups than others. Let’s take a look.

Dublin

Ireland’s capital has a thriving startup ecosystem, as well as being home to large, well-established businesses across all sectors.

Dublin’s many attractions include:

• Access to a skilled, diverse workforce
• Wide availability of business premises and co-working spaces (although space does come at a premium)
• Opportunities for venture capital and angel investment funding
• A rich culture and heritage
• A thriving tech and creative hub.

Cork

Cork is seen as an emerging powerhouse in terms of business growth, attracting increasing numbers of startups, scale-ups and multi-national companies.

Businesses are drawn there due to factors such as:

• Incubation centres such as The Rubicon Centre, home to 50+ knowledge-based startups
• More affordable commercial property than Dublin
• Direct ferry routes to Europe
• Fast-growing economy
• A hub for tech and pharmaceuticals
• Access to a growing talent base

Galway

Galway is another Irish city on the up, with a growing startup community and increasing funding being pumped into tech.

Benefits include:

• Supportive network of local accelerators and incubators, and enterprise centres such as Platform94 (formerly Galway Technology Centre)
• Access to funding opportunities
• Lower commercial property and other business costs than Dublin
• A hotspot for tech and innovation, especially in medtech.

Business etiquette and culture in Ireland

One of the hardest things to adjust to as a UK entrepreneur expanding to a foreign market is the difference in culture - both inside and outside of the business world.

In many cases, you’ll find the business landscape in Ireland very similar to the UK.

However, you might find that communication and company culture is more relaxed and formal than the UK - with less emphasis on hierarchy. As in the UK, building personal and professional relationships will be important as you start to make connections and build networks in Ireland.

It’s still a good idea to do some research, as there may be nuances and complexities within your industry or in a specific town, city or region that you need to get to grips with.

Tips for doing business in Ireland

• Do as much research as you possibly can - into local culture and etiquette, as well as business opportunities and target customers.
• Get expert advice from specialists in the region you’re targeting - this includes legal and tax advice, and support navigating local bureaucratic processes.
• You’re likely to need a local business bank account from the start
• Familiarise yourself with company registration and legal structures in Ireland so you can choose the most appropriate one for your new business.

💡 You may also like our guides to doing business in Europe✈️

Grow your business in Ireland with Wise Business

While having a corporate bank account may be an essential for starting a company overseas, you can also use Wise Business to help grow your business in Ireland.

Open a Wise Business account and you can manage your company’s finances in 40+ currencies all in one place, including EUR, GBP, USD and all other major currencies. You’ll be able to pay suppliers and staff in euros, as well as receiving payments in multiple currencies.

Wise payments are fast and secure (even for large amounts). Best of all, you’ll only pay low, transparent fees and always get the mid-market exchange rate.

With Wise Business, you’ll also benefit from the following features:

• Issue business debit and expense cards for you and your team
• Cashback on eligible card spending
• Generate invoices and payment links to receive money easily from customers
• Access accounting integrations, batch payments and a powerful API
• Wise Interest - which lets you earn returns on money held in GBP, USD and EUR. Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

It’s quick and easy to open a Wise Business account in Ireland, with a fully digital application, verification and on-boarding process. Check out the requirements here.

Wise works almost everywhere, and you can also open an account in other European countries such as France, Germany, Portugal, Ireland, Spain, Switzerland, Hungary and Poland.

Register with Wise Business🚀

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Sources used:

1. Velocity Global - A Guide to European Expansion: Best Practices & Tips
2. Kinore - The Difference Between Irish And UK Company Set Up
3. Hawksford - Starting a business in Ireland
4. Investment Monitor - Ireland ranked as best country in which to start a business in 2023
5. CPL - Challenges and Opportunities for Tech Scale-Ups in Ireland
6. Numbeo - Cost of Living Comparison Between United Kingdom and Ireland
7. Worldometer - Ireland Population

Sources last checked on date: 05-Aug-2025