Ireland: Regional 2024 Doing Business In Update

Published on May 16, 2024

2024 Ireland Regional Update

Firm Name: Mason Hayes & Curran LLP
Authors: Muireann Hernon, Hannah Devoy

1. How is the political environment impacting business in or with your country?

Ireland consistently ranks among the top countries in the world in which to do business backed by strong political support for foreign direct investment.

There will be an election before March 2025, and polls indicate a possible change in government to one led by the Republican left-leaning party Sinn Féin (currently in opposition).

In broadening its appeal, Sinn Féin has 'softened' its previous economic policy positions, including a commitment to maintain Ireland's 12.5% corporation tax rate. We therefore expect that, even if there is a change of power,

Ireland will continue to attract the world's largest multinationals and maintain strong foreign direct investment after the election.

2. Which countries have you previously collaborated with and do you see potential for future collaboration with on cross-border matters within the region?

We routinely collaborate with WLG member firms on client matters, referrals, and through our participation in the WLG | exchange program. Last July, for example, we hosted colleagues from Bech-Bruun and Sołtysiński Kawecki & Szlęzak at our offices as part of the WLG exchange program. Within EMEA, we perhaps most frequently collaborate with Gowling WLG, Cuatrecasas, CMS Germany, and Taylor Wessing.

3. What legislation has recently changed or is changing that a potential international client should be aware of?

Mason Hayes & Curran LLP recently carried out a survey on business and legal sentiment.

Responses indicate that the Corporate Sustainability Reporting Directive and new rules to strengthen individual accountability within regulated financial service providers (Central Bank (Individual Accountability Framework) Amendment Act 2022) are expected to have the biggest impact on businesses in Ireland in 2024.