The Republic of Ireland makes a lot of sense as a place to head for independent professionals, and not just because of such factors as English being widely spoken, the friendly welcome extended to outsiders, and the many urban and natural stimulations that can be enjoyed here.
Indeed, it already feels like a long time since Ireland’s economy was going through the doldrums as a result of the late 2000s and early 2010s global economic slowdown. Ireland has returned to swift economic growth in recent years, and offers a standard of living matched by few other European countries.
So, what are the basics that you should be aware of if you are thinking about contracting in Ireland, and could do with the global payroll management and tax planning knowhow that we are renowned for here at Link Global Management?
How easy will it be for you to find a role in Ireland?
This naturally depends largely on your area of expertise, although there are a number of sectors in which Ireland continues to experience skills shortages, ranging from business, finance and engineering to IT, transport and logistics.
Furthermore, there’s no doubt that the presence of such multinational companies as Apple, Dell, Facebook, Google and Microsoft has helped to maximize opportunities in the country, even if there remains intense competition for skilled jobs.
One factor that will definitely help you as a prospective contractor in Ireland if you are an EU or EEA national, is the unrestricted right that you have to work here without the need to hold a visa or work permit. Nationals from outside these areas, however, will generally have to secure the relevant approval to work before their arrival in Ireland.
We can help you to stay abreast of the tax and payroll situation
As is the case if you contract in any other part of the world, if you are looking to become an independent professional in Ireland, you must stay on the right side of the local tax law, while ensuring you are not hit twice in the pocket by the need to pay tax in both Ireland and your home country.
Thankfully, Ireland has double tax agreements with most countries, which helps contractors here to largely avoid the menace of double taxation. It is vital to be mindful, however, that the Irish tax year runs from 1st January until 31st December, as well as that you will become tax resident in Ireland if you are physically present in the country for 183 days or more in a tax year, or spend a combined total of 280 days or more here in the previous and current tax year.
On the tax-residence point, being present in Ireland at any time on a given day means that day is counted towards the total number of days spent in the country. Furthermore, if you do become tax resident, you will be taxable on worldwide income by default, unless a double taxation treaty is in place to exempt you from this – so you should be sure to check beforehand.
Would you like to benefit from tailored and informed advice, guidance and services from respected experts in global payroll management and tax compliance? If so, the Link Global Management team is always available to contact by email; you can also call us on +44 (0)20 3908 7997.