INWARD INVESTMENT


Republic of Ireland


With its buoyant labour market and low corporate tax rate, the Irish Republic is an attractive location for inward investment, though skills shortages, particularly in IT, life sciences, technology and construction, can be a drawback. The high quality of life on offer makes


Ireland a popular destination among expatriates. International assignees typically relocate to the capital city, Dublin, home to a third of the country’s population. Cartus’s latest Market Watch report for


Ireland provides useful information on relocation and international assignment trends and practices, identifying key programme management challenges and giving practical advice on dealing with them. The challenges include:


London, the global hub


London is a hub for global business, with more $1 billion international subsidiaries than any other city. It is the number-one global city for FDI projects. London is a world-leading centre for the


knowledge economy: • Digital technologies £5.3 billion • First in the European Digital City Index of tech start-ups and scale-ups, ahead of Paris, Berlin and Amsterdam


• London and the South East have more employees in the technology and information sector than the state of California does


• London leads in fintech. It has 61,000 people working in fintech, compared with New York’s 57,000


London’s data and analytics expertise


supports its strength in science, including the world-class research cluster of the Turing Institute and the Francis Crick Institute. London anchors a vibrant life- sciences cluster. London has a strong platform for growth.


Its economy is worth £364 billion, exporting is worth £147 billion, and the city supports 5.5 million jobs, generating £142 billion in taxes, nearly a third of the UK total. To stay open for business, London needs to: • Stay open for commerce and trade • Ensure firms can recruit international talent


• Protect and grow its strengths in financial and professional services • Boost international tourism to London


travel


Information supplied by London First www.londonfirst.co.uk


and


Housing – Availability of rental property is limited. To ensure they can move fast when they find suitable accommodation, assignees should have a bank account, an employment confirmation letter, and funds to pay the security deposit and the first month’s rent before undertaking their home-search trip.


doing your homework if you are an employer or a supplier service. After all, back in the 1980s and 1990s,


when the relocation industry emerged in the UK, the country’s regional development agencies and many of the ‘new towns’ both championed domestic relocation, including government bodies and not-for-profits moving out of London, and targeted foreign direct investment (FDI) moves, and they supported emerging industry clusters in these areas. It is worth checking out those suppliers


who have a history and an understanding of the way in which inward investment works and can develop a partnering approach. Equally, relationships with suppliers who understand and can work effectively with export drive initiatives are also to be cherished. Don’t underestimate the level of expertise that already exists to navigate international growth.


Collaborative approach to change As Relocate has said many times before, few, if any, organisations are untouched by global trends and influences. The pace of change across the bigger picture impacts large and small, from the NHS


Schooling – As places in private and international schools are scarce, assignees choosing this type of education for their children should apply for places as far in advance as possible, and employers should send authorisation for school assistance to their relocation service provider as soon as an assignment is confirmed. State-school places can also be limited.


Cultural issues – Employers should consider offering cross-cultural training to assignees and their families. The type of programme chosen should take into account the length of the assignment and the scope of the family’s relocation experience.


Immigration – While all non-EU assignees require a work permit, some moving to Ireland will also need an Irish visa. Visa applications should be made as soon as an assignment is scheduled. As requirements for applications vary, Cartus recommends that assignees be prepared with the necessary documentation as early as possible.


For further details, visit www.cartus.com


to pharmaceutical companies, the energy sector, the car industry, the digital economy and the services sector. However, piece by piece, by analysing


the risks and charting certainty and uncertainty, with a strategic approach and the ability to be agile, open and transparent and to communicate well, most companies will be able to steer a steady course. Business and membership organisations


seem to be showing signs of coming together to reinforce their knowledge base and put their case to government and regional decision-makers. Global mobility associations can also work more collaboratively to support the growth agenda and cross-border working. Over the coming months, Relocate


will be deepening its coverage of regions and countries across all its media, to help employers and relocation professionals make informed decisions about potential relocation destinations. We will be leading study tours and fact-finding missions to destinations throughout the UK and Europe, and further afield to international relocation hotspots and emerging destinations. To find out more, contact Vanessa@relocatemagazine.com or call +44 (0) 1892 891334 ➲


relocateglobal.com | 15


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60