Ireland as a business location Ireland as a business location Economic links Law and Tax Dec 01, 20141

Economy After exiting the euro rescue program Ireland asserts itself on the financial markets: Irish bond yields are now under 2% compared to a peak of 14% in 2011 Export and Import levels have risen in Ireland stabilizing the economy. In its Autumn Update the European Commission is forecasting a growth of 4.6% for 2014 Record year in 2013 for Foreign direct investments: 166,184 new jobs created (highest rate ever); strong investment flows continue this year The economy is growing at its fastest rate in 7 years 2

Consumer sentiment has returned to levels not seen since 2007 The unemployment rate dropped from 15.1% in 2012 to 11.0% (Oct. 2014). For 2015 it is expected to be 10.3% and for % Since 2009 Irish labour costs have remained stable compared to an increase of 8% in the EU Standard & Poor and Fitch upgraded Ireland recently to A-. Also Moody’s lifted the country’s rating this year by two notches to Baa1 in a better than expected assessment Dec 01, Economy

Exports Exports Jan - Aug 2014 (€ million) 1.USA: 12,999 2.Great Britain: 7,783 3.Belgium: 7,224 4.Switzerland: 3,944 5.Germany: 3,811 6.France: 3,034 7.Netherlands: 2,238 8.Spain: 1,666 9.Italy: 1,440 Imports Imports Jan - Aug 2014 (€ million) 1.Great Britain:10,599 2.USA: 3,862 3.Germany: 2,866 4.China: 2,047 5.Netherlands: 1,706 6.France: 1,477 7.Japan: 1,127 8.Switzerland: Belgium: Spain: The US invested more than $204 billion last year – this equates to more than the total invested in the BRIC [Brazil, Russia, India, China] countries combined = 73% of all foreign direct investment in Ireland; 26% of Ireland’s GDP; 120,000 Direct Employees

Ireland - the global hub  9 of the top 10 global software companies  9 of the top 10 pharmaceutical corporations  10 of the top 10 “born on the internet” companies  9 of the top 10 US ITC companies  3 of the top 3 global enterprise software companies  4 of the top 5 IT service companies  15 of the top 20 global medical technology companies Dec 01,

Economic key figures 2013Prediction 2014Prediction 2015 GDP (€ bn) GDP increase (real in %) Inflation rate (in %) Government debt (in % of GDP) Unemployment rate (in %) Exports (€ bn)184.1 (+1.1)€197.3 (+7,3)€210.1 (+5.1) Imports (€ bn)€147.7 (+0.6)€158.0 (+6.3)€167.5 (+4.8) Source: Central Bank of Ireland (Quarterly Bulletin No. 4, Oct. 2014), NTMA, Department of Finance (October 2014) Dec 01, 20146

Geography / Workforce Ireland has excellent access to both the European and the US market: International airports are located at Dublin, Shannon, Cork, Knock and Kerry Ireland is a less than 3 hours flight from Madrid/Barcelona, 7 hours from New York, about 1 hour from London and 2 hours from Frankfurt Ireland is on GMT, 1 hour behind Spain, 5 hours ahead of New York and 8 hours behind Hong Kong Highly qualified employees available in the important sectors like ICT, life sciences, pharmaceuticals, new media, biotechnology and green energy Dec 01, 20147

Irish Taxation 12.5% corporation tax on all trading income 25 % for passive non-trading income, e.g. rental income The rate of Capital Gains Tax is 33% Ireland has a wide network of Double Taxation Treaties, currently 72 treaties, of which 68 are in effect Ireland is on the OECD white list for tax compliant jurisdictions Transparent and business friendly tax system Various Tax Incentives for companies to choose Ireland as a business location: ‐Favourable Intellectual Property Regime ‐R&D Tax Credit System ‐Tax relief for Start-up companies ‐Attractive Holding Company Regime Dec 01, 20148

TippMcKnight is a full service law firm providing legal and tax advice to businesses and private individuals The office is located in the heart of Dublin, in the business district It was set up by two experienced solicitors who for many years were partners in major Irish law firms Dec 01, Our office

International approach The firm is well connected with several Irish and international trade organisations, e.g. the International Fiscal Association (IFA), the Ireland- Spain Economic Association and the Ireland-France Chamber of Commerce Clients can be advised in English, German and French TippMcKnight has established a wide international network of contacts and an international client base Dec 01,

Recent significant deals The acquisition of an Irish resident group of companies for € 4.5 million Advising a major Irish public company on data protection issues The set-up of an Irish travel company and dealing with all legal and regulatory matters The transfer of employees to a significant Irish client from another business Drafting international distribution agreements for a pharmaceutical company for 55 countries Advising one of the leading Irish providers of civil engineering services in the wind energy industry Dec 01,

Practice Areas 12Dec 01, 2014

Ursula Tipp is the founding partner of TippMcKnight Solicitors. She is President of the Ireland Spain Economic Association, Director and Council Member of the Ireland France Chamber of Commerce, the Belgium Luxembourg Chamber of Commerce, the International Fiscal Association and the Institute of Directors in Ireland. Ms. Tipp is a Lecturer in International Taxation and Cross Border Trade and Litigation at National University of Ireland Maynooth and regular commentator on radio and TV. She is a regular speaker at legal and tax conferences in Europe and the United States. Ursula Tipp TippMcKnight Solicitors 41 Fitzwilliam Place, Dublin 2 Phone: Mobile: Dec 01,