Ireland is one of the most affordable countries in Europe when it comes to starting a business, according to research from digital bank Bunq.
Among the top 10 EU economies analysed for the study, Ireland stood out as a highly attractive destination for entrepreneurs and digital nomads looking to start a new venture.
The number of new businesses — including limited companies, sole traders and partners — in Ireland last year rose 5.5% to 23,384, making 2024 the second busiest year for start-ups after 2021.
Bunq cited Ireland’s low financial barriers as creating a highly attractive environment for emerging business ventures.
Specifically, the payments firm referenced the nominal €50 fee to register with the Companies Registration Office, the €1 minimum capital requirement, and an average business bank set-up cost of €7.17.
Before professional advice and excluding tax advisor fees, potential staffing costs and other overheads, these mandatory government and basic set-up …