Ireland's tax laws have made it a popular place to do business in recent years, with the country offering generous allowances on personal and corporate income.
The country has a rich history of attracting retired artists due to a favourable tax exemption that meant singers, writers and other creative professionals didn't have to pay income tax on earnings.
These arrangements have since been tightened, with a cap of €40,000 introduced in 2010. However, Ireland still has various other regulations that favour high-net-worth individuals (HNWIs) and businesses.
Income tax, CGT and inheritance
Both capital gains tax and inheritance tax are levied at 33 per cent, although there are different thresholds for inheritance depending on your relationship to the deceased.
Income tax is currently 20 per cent for the first €32,800 earned for single taxpayers and 41 per cent for the remainder. Similarly, married couples pay 20 per cent on the first €41,800 and 41 per cent on the balance.
This is fairly high for a tax haven, but non-domiciled individuals are only charged on income they bring into the country. As such, foreigners resident in Ireland can keep most of their money offshore and avoid the majority of taxes.
Ireland has one of the best tax regimes in the world for businesses, offering a rate of just 12.5 per cent on trading income. This is among the lowest in developed countries worldwide.
The nation also has various tax treaties and is more stable politically than eastern European countries that may provide lower rates.
Boasting excellent infrastructure, good education and solid communication links, Ireland is an excellent destination for HNWIs and organisations looking to settle abroad.
The economy suffered through the global economic crisis, however this has led to a significant drop in house prices. There are also no restrictions on buying a house for EU-based expats, unlike in some other tax havens.