Legal & Regulatory

Consumer Legislation

The Republic, as a member of the EU, derives much of its consumer legislation from this source. Like many countries, certain elements of law are based on very old principles that, while being updated in certain contexts, still hold true today. Trading into Northern Ireland will trigger requirements around UK law, which can be found in the UK passport. [1]

Fx Policies

Ireland is a member of the European Union (EU) and the European Monetary System (EMS). Commercial transactions and payment terms therefore reflect common Western practices. Primary import payment considerations are determined by the financial reputation of an individual customer combined with competitive considerations. There are no commercial foreign-exchange limitations or unusual regulations. Additionally, there are no restrictions on inward investment, foreign trading, or the repatriation of capital and profits of American firms based in Ireland. The Irish importer can easily arrange import financing through a local branch bank manager. Experienced importers respect overseas vendor’s payment terms. The domestic market operates quite differently, with trade customers taking cash discounts and paying up to 90 or even 180 days after delivery. Occasionally, new importers attempt to apply domestic practices to the international market place.

Sources

  1.  eCommerce Worldwide. Ireland Country Guide. "eCommerce in Ireland"
  2. Export.gov "Ireland Foreign Exchange Controls"
GDP:

$304.8 billion

OECD Risk Score:

0

Ease of doing business index

17th

Household income

$25,969