Setting up shop in Ireland? MFAT report is a ‘must-read’ for Kiwi companies

July 4, 2023

Post-Brexit, New Zealand companies are increasingly looking at Ireland as a location to do business. Did you know Catalyst IT, Cemplicity, Figured, Fuel 50, ADInstruments, Invert Robotics, Shuttlerock, Snapper, Titanium Solutions, and Xero all have Irish operations?

Published in June 2023, The New Zealand Ministry of Foreign Affairs and Trade (MFAT) report Foreign Direct Investment in Ireland sets out some compelling reasons why companies like these are choosing Ireland. Factors include:

· Access to the EU Single Market

· Pro-business environment

· Competitive Corporate Tax rate

· Commitment to R&D

· Young, skilled, and tech-savvy workforce

· Favorable immigration laws

· Convenient time-zone

· International connectivity

The market intelligence goes on to examine some of the help available to New Zealand businesses making the move, highlighting the Irish Development Authority (IDA) and the New Zealand Trade and Enterprise (NZTE).

You can think about them as the push-me/pull-me of yin and yang.

On the yin (pull) side is the Irish Development Authority (IDA). It aids foreign businesses in establishing themselves in Ireland. The IDA is a support powerhouse, from grants for R&D, employment, and training to a concierge service that smooths market entry. They also have a comprehensive directory of local companies that provide critical services.

The IDA’s yang (push) counterpart in the metaphor is New Zealand Trade and Enterprise (NZTE), which helps Kiwi companies grow globally through export. The organization offers digital support, including market guides, business assessment tools, skill-building resources, and workshops. They also have a team of advisors who can connect people with the broader export community.

With access to a single market of 450 million EU consumers, Ireland is an attractive destination for New Zealand companies looking to expand their horizons. The good news is that a range of support is available for potential newcomers. For those considering taking advantage of the opportunity, the new market report Foreign Direct Investment in Ireland from MFAT provides essential reading.

Get report

If you are a Kiwi doing business in Ireland, follow the NZBNI on LinkedIn for the latest updates and become a member at NZBNI.ie.