Ireland is a global centre for Financial Services. Over 430 Financial Services companies are operating from Ireland today, including 20 of the Top 25 Global Institutions, engaged in activities ranging from asset management & administration to aviation finance.
Firms located in Ireland provide Financial Services to every major economy in the world. International banks, investment managers, insurers, aircraft leasing operators and an array of other financial firms employ over 42,000 people and contribute €2.3bn each year in taxes.
More than eight out of 10 of those employed in the sector have at least a bachelor’s degree. Most work in fund management, banking and insurance. However, there is also a large Financial Services sector supporting a multitude of operations in Ireland, ranging from lawyers and accountants to IT providers.
While Dublin acts as the main hub, the Financial Services sector has many operations spread throughout Ireland from Letterkenny to Cork, Galway to Kilkenny and Limerick to Waterford.
The Central Bank of Ireland is the regulator of all Financial Services firms in Ireland.
The IFS Skillnet is focused on maintaining Ireland’s position as a top international Financial Services centre through ongoing investment in the development of the necessary skills and expertise. The network is led by a steering group, which includes member companies and financial services industry associations.
Ireland has published a new Strategy for the International Financial Services Industry called Ireland for Finance which outlines ambitious targets for the development of the IFS industry in Ireland
Dublin is the main centre of Ireland’s Financial Services sector, where activity is focused around the Irish Financial Services Centre (IFSC). Established in 1987 by the Irish Government, the IFSC houses some of the world’s premier Financial Services institutions. A sophisticated support network including accountancy, legal actuarial, taxation, regulatory and telecommunications has grown up around it.
The IFSC is an integrated development offering world-class office accommodation, executive housing and restaurants, plus excellent shopping facilities. The development has expanded beyond its original site and has become a vital part of the wider Irish economy.
The National College of Ireland is located in the IFSC providing further education on-site to the financial professionals who work there.
Aviation and Ireland have a special relationship. Since the first transatlantic flight landed here in 1919 and GPA started an aircraft leasing business in the 1970’s, Ireland’s aviation offering has seen considerable growth and it now represents one of Ireland’s true economic success stories.
Today, Ireland is the global centre for aviation finance and aircraft leasing.
Today, Ireland is the global centre for aviation finance and aircraft leasing.
Ireland has a strong reputation and is a leading centre for aircraft leasing and finance, due to:
- Track record dating back to Guinness Peat Aviation (GPA) in the 1970s
- Deep, multi-disciplinary (technical, legal, financial) talent pool
- Favourable corporate tax regime with an extensive Taxation Treaty network.
- 12.5% corporate tax and Government commitment to sustain this rate
- 0% VAT on international aircraft leasing
- Availability of over 72 double taxation agreements
- On-shore location (member of the EU and OECD)
- Tax depreciation (Capital Allowances) for the cost of equipment and plant & machinery (which includes aircraft and aircraft engines) over 8 years
- Extensive range of exemptions provided for from withholding tax on interest and dividend payments and no withholding taxes on lease rentals
- No stamp duty on instruments transferring aircraft
- Irish Economic Recovery – increasing attractiveness of Ireland as a location for FDI
In 2014, AerCap acquired ILFC from AIG. AerCap paid AIG $3 billion in cash as well as a significant ownership position in AerCap's ordinary share capital. The acquisition brings AerCap’s fleet to over 1,300 aircraft, with a further 400 on order, making it the largest independent lessor in the world, and the second largest lessor in the world after GE Capital Aviation Services (GECAS). AerCap chose Ireland as its global operations headquarters and now has two offices (Shannon & Dublin) with over 120 staff in Ireland.
In 2012, a consortium led by Sumitomo Mitsui Banking Corporation (SMBC) established its global aviation business headquarters in Ireland (SMBC Aviation Capital) via the acquisition of RBS Aviation in a deal worth more than $7 billion.
Explore publications, infographics and blogs on the current business landscape
Ireland has developed a global banking
reputation and is a recognised location for front,
middle and support activities, including operations
Ireland has a sophisticated fintech & payments ecosystem with
a deep pool of local expertise available. Many of the world’s leading
companies have a significant presence in Ireland, with activity spread
right across the sector including; Online Payments & Processing,
Digital Banking, Cross Border Payments, Payment Gateways,
Insurtech, Regtech and Blockchain.
Ireland is a global centre for servicing the insurance
industry with local expertise across the full range of
sub-sectors including Life, Non-Life, Specialty Insurance,
Reinsurance and Captive Insurance.
Everything you need to know about investing in Ireland in 2019 including information on economy, talent, tax, commercial property and more.
Every company that wants to grow will reach a point where it needs to expand into new markets. Doing it right means setting up operations closer to those customers.
It’s a big step, but it’s one that many others have taken before. For this blog, we spoke to senior leaders at leading tech companies that expanded into Ireland. They shared their advice on getting a fast and frictionless start, with five practical tips for others planning to grow their business internationally.
In late May, Ireland will become a hive of blockchain activity. Over seven days, events will bring together entrepreneurs, developers, corporate leaders, regulators and government services for a series of talks, workshops, networking opportunities, a hackathon, culminating in a meeting of the ISO TC307 group that will discuss standards around the emerging technology.
Ireland may not be the first country that comes to mind in aviation, but it certainly has a strong impact now in how the industry is run.
Ireland's Value Proposition for Foreign Direct Investment
Read the latest press releases on Financial Services activity in Ireland
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) hosted a visit today by An Tánaiste* and Minister for Enterprise, Trade and Employment, Leo Varadkar TD at its Global Delivery Centre in Letterkenny, Co. Donegal in Ireland. One of the North West’s largest employers, TCS briefed Minister Varadkar and other visiting guests from IDA Ireland on its plans to further cement this Centre as a strategic hub to provide digital transformation, IT, and business services to clients in Ireland and across the world.
McGill and Partners, the specialist boutique broker, officially opened its Dublin office in October 2021, having received approval from the Central Bank of Ireland in December 2020. The firm began trading in Ireland in January 2021, working through the pandemic to set up a physical office; fulfilling their intention to broaden their European reach and further their global expansions.
Today, Square, Inc. (NYSE: SQ), announced plans to expand its European headquarters in Ireland. Square is creating an additional 30 jobs in Ireland bringing the company’s total workforce to 150 employees.
West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, has created 60 new jobs in Dublin as part of establishing a new global finance shared service model here.
The new shared service model centralises West’s key finance activities in Dublin and Exton, Pennsylvania, to drive efficiency and support increasing company growth. The new center in Dublin includes various accounting and finance activities and will create greater scale and value for West’s global business and operations. West now employs over a thousand team members across Ireland, including its manufacturing facilities in Waterford and Dublin.
Tánaiste & Minister for Enterprise, Trade and Employment Leo Varadkar TD and IDA Ireland today welcomed the announcement by Stripe that it is to add hundreds of new engineering jobs in Ireland over the next three years, supported by the Irish Government through IDA Ireland.
Brookfield, Wis. and Nenagh, Ireland, June 23, 2021 – Fiserv Inc. (NASDAQ: FISV) a leading global provider of payments and financial services technology solutions, today announced that it will expand its research and development operations in Nenagh, County Tipperary, Ireland, adding 200 jobs over the next three years as the company responds to growing demand for digital solutions among its clients and consumers.
TrustLabs Inc, a privately held blockchain fintech company, has announced the establishment of its European Headquarters in Dundalk, Co. Louth, creating 20 jobs over the next two years.
An Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD and IDA Ireland today announced the creation of 185 jobs in Shannon, Galway, Dundalk, Cork & Dublin across 8 high growth companies from Europe and the US.
IQ-EQ, a leading global investor services group, has today announced plans to expand its Irish operations with the launch of a dedicated Funds business in Ireland creating 45 roles over the next five years.
An Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD and IDA Ireland today welcomed Fidelity Investments® Ireland announcement that it will further grow its national footprint by adding 90 new fulltime jobs within its technology team in Ireland with 60 positions based in the Galway office and the remainder 30 in Dublin.
Munich Re Automation Solutions Ltd. today announced plans to invest approximately €16 million in Horizons, an innovative research & development programme evolving the business from a product to a platform company. The business will recruit a large new team of skilled people, to complement its existing team in Dublin and accelerate the development of new cloud products/services. Munich Re plans to fill up to 60 positions over the coming 24 months.
Mastercard has today announced its plans to create 1500 jobs in the next three to five years as it significantly grows its new European Technology Hub in Dublin. The plans reflect Dublin as a key location in Mastercard’s global footprint.
As a leader in payments technology, Mastercard is to grow its workforce with notable investments in its artificial intelligence, cyber security, blockchain, user experience teams, and more. As such, Mastercard will be recruiting for talented technologists with strong development and software skills looking to work on impactful, cutting edge technology projects.
The IDA Ireland organised forum, in association with the Financial Times, brings international and Irish financial industry leaders, regulators and policy experts together
Limerick, November 25th, 2019 – FundRock Management Company S.A. today celebrated the official opening of its office in Limerick. This office serves as an operational centre of excellence which complements the FundRock Group.
Liberty Insurance today announced plans to expand its operations in Cavan, creating up to 120 roles over the next three years. The effort is supported by the Irish Government through IDA Ireland.
Elavon has today unveiled its new, renovated Arklow office which underwent an extensive refurbishment. The redesigned facility supports the growth of Elavon, an innovative payments company and key employer in County Wicklow.
DMS Governance (DMS), a global governance, risk and compliance (GRC) company is to substantially increase its Ireland-based workforce by creating an additional 50 roles in Cashel, Tipperary.
Friday, September 13th, Dublin – Hermes Investment Management (Hermes) today celebrates the opening of its new office in Dublin, with the creation of 11 new financial services roles.
Today, Deutsche Börse Group and its post-trade services provider Clearstream celebrated the official inauguration of their new office at Navigation Square in Cork, Ireland. The expansion shows that Cork has become a vital and successful hub for the investment funds operations and one of the major locations for Clearstream.
Opus Fund Services, an award winning independent, privately owned global fund administrator headquartered in Bermuda, announced today it plans to open a second office in Ireland, locating in Enniscorthy, Co. Wexford, with the creation of 100 jobs over five years.
Opus Fund Services today announced the official launch of its European fund administration business based in Dublin, Ireland. This follows a comprehensive application process resulting in authorisation by the Central Bank of Ireland under the Investment Intermediaries Act.
Launched in 2006, the Opus proprietary based technology offering continues to gain rapid traction. To date it has focused on the US market, adding 183 new funds across 133 new clients in 2018 alone.
Today marks the official launch of the Irish Cyber Security Cluster, Cyber Ireland, which took place at Cork County Hall and was officiated by Minister David Stanton. The Cyber Security cluster organisation, which is backed by IDA Ireland, brings together industry, academia and government to represent the needs of the sector and aims to enhance the innovation, growth and competitiveness of the companies and organisations in this nationwide cluster.
Dublin, 15 May 2019 - TD Securities is delighted to announce the official opening of its new office in Dublin, located at One Molesworth Street. Minister for Finance, Paschal Donohoe, T.D., joined TD Securities’ CEO, Bob Dorrance, and IDA Ireland CEO, Martin Shanahan, at the official opening ceremony yesterday.
AFEX, one of the world’s largest non-bank providers of global payment and risk management solutions, has announced the creation of 10 new jobs, based in Dublin.
TradeIX, the award-winning technology platform provider driving innovation in trade finance, is expanding its Global Headquarters in Dublin by adding 70 new jobs across engineering, sales, customer service, and product development.
Read case studies about why Financial Services companies locate in Ireland
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