Law firm leads calls for Ireland to eliminate barriers to entry for Brexit business exodus
A leading lawyer has said Ireland needs to eliminate barriers to entry for UK-based multinationals and personnel considering a move in the wake of the Brexit vote.
Matheson partnership chairman Liam Quirke, who heads the Dublin firm’s Brexit advisory group, called for the Government and business stakeholders to work together to provide “an optimal business environment”.
Mr Quirke said: “The vote for Brexit presents Ireland with the most important FDI opportunity in decades.”
He added: “With Theresa May’s announcement that the UK intends to trigger Article 50 by March 2017, we need to deliver on our commitment to be the best country in the EU to do business.”
Among his recommendations are ensuring that regulators are appropriately resourced to allow speedy authorisation of UK-based financial services companies who want to relocate.
Mr Quirke also called for a “more favourable personal tax regime” in order to “encourage talented people to relocate to Ireland”.
Éanna Mellett, partner in Matheson’s corporate department, has been relocated to serve as resident counsel in the firm’s London office.
Mr Mellett said: “It is clear from the enquiries and instructions that the firm has received since the Brexit referendum that the current uncertainty and the impending implementation of Brexit has created increased demand for advice about establishing and conducting business in Ireland.
“I look forward to working closely with UK and Irish-based clients in assessing the impact of developments on their business models and legal structures, and to helping them implement changes required to reflect the new business realities.”