Saturday 3 December 2016

Ireland slips as an investment location for international investors

Published 21/11/2016 | 13:33

Almost three quarters of international investors say that Ireland is now a less attractive place to invest in than before.

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The poll of 224 venture capitalists, bankers and other investors shows that 72pc now view Ireland “less favourably” as a location for multinationals after the European Commission’s €13bn tax ruling against Apple and Ireland.

And just over three in five of the investors asked said that Ireland is no longer the most attractive country in Europe to invest in.

Meanwhile, two thirds also squarely describe Ireland as a “tax haven”, rejecting the Irish government’s claim that Ireland is simply a low tax jurisdiction.

The poll, which was taken at the Web Summit’s ‘Venture’ event for investors, comes amid speculation that the UK is to lower its corporate tax rates to compete with Ireland’s 12.5pc rate.

The international investors also said that “regulation and labour laws” were “the biggest threat to the tech industry”, while also citing the collapse of free trade agreements and a global recession as other threats.

However, over two thirds of the investors said that “access to talent” remained the most important factor when choosing where to locate in Europe.

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