Now known as the "Celtic
Tiger" of Europe, the economy of the Republic
of Ireland has experienced phenomenal growth since 1988, when
the average GDP per head of population was 63% of that of Britain.
With growth in the region of 7% per year since 1995, and forecasts
of growth continuing into the next century at over 5% a year,
Britain has been left behind.
A keen
interest in Northern Ireland
is indicated by an increase in the property market in and
around Belfast. New developments and the rebuilding of the
city and its suburbs are evident everywhere. International
companies are pledging their interest in reviving Northern
Ireland. A new Hilton Hotel complex has been built next to
the outstanding Waterfront Hall Conference and Concert Centre,
marking a new era for the grand city of Belfast. Northern
Ireland currently benefits from a lower personal UK tax rate.
Membership
of the E.U. has brought huge structural funds
into the Republic of Ireland, which have been wisely invested
in infrastructure, education, technology and training. This
has provided a solid economic foundation and there is a well
educated and flexible work force to ensure ongoing economic
growth. The Governments of both the Republic and Northern
Ireland support both external and internal investment by means
of various grants. Enterprise Boards exist to provide support
and practical business help. There is also a range of tax
incentives. Including reduced company tax rates and exporting
of Irish products tax breaks. Publications and information
are available from the Revenue Commissioners at www.irlgov.ie. Enterprise Ireland website can be found at www.enterprise-ireland.com.
In the
Republic of Ireland,
the principal body concerned with attracting large scale commercial
projects is the Industrial Development Agency (I.D.A.)
(353) (0)1 6034000 www.idaireland.com
.
Enterprise
Ireland is concerned with overall assistance, principally
to smaller scale operations. More information on grants and
business assistance can be obtained at www.forbairt.ie
or www.enterprise-ireland.com. In Northern Ireland,
the Industrial Development Board (IDB) www.idbni.co.uk assists new and existing externally and locally owned companies
with new projects and the development of existing facilities.
The currency
of the Republic of Ireland is the Punt (IR£). From January
1 1999 the Euro has been introduced and the 11 E.U. Countries
participating will irrevocably fix their exchange rates to
the Euro. Punts will continue to be used, but have been a
unit of the Euro from January 1 1999. From 2002 the Punt will
disappear to be replaced by the Euro. Northern Ireland will
not be adopting the Euro at this stage. It is thought likely
that the U.K. will adopt the Euro in 2002. Until then the
currency will remain sterling(£).
All E.U.
citizens have the right of residence and employment in both
Northern Ireland and the Republic of Ireland. Other visitors
are normally allowed to stay between 3 and 6 months. Full
details are available from the Dept. of Justice ((353)
(0)1 6799711) for the Republic, or any United Kingdom
Embassy for Northern Ireland.
Information
on business, residence or visiting Ireland is always available
from the Republic of Ireland Embassies world-wide.
Examples are:-
France
12 Ave Foch 75116 Paris
Tel: 1-44-176700
Germany
Godesberger Allee 119, 53175 Bonn
Tel: 228-95-9290
Spain
1 Floor, Claudio Coello 73, 28001 Madrid
Tel: 15763500
Italy
Piazza di Campetelli 3, 00186 Rome
Tel: 6-697 91211
U.K.
17, Grosvenor Place, London SWIX 7HR
Tel: 0171-135-2171
U.S.A.
2234 Massachusetts Ave. N.W. Washington
Tel: 202 462 3939 DC 20008
Canada
130 Albert St. Ottawa, Ontario K1A 0L6
Tel: 613 233 6281
For a full listing of Irish Embassies worldwide please see
www.irlgov.ie/iveagh/
U.K. Embassies
throughout the world will advise on all aspects of visiting,
doing business in or living in Northern Ireland.
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