British referendum on EU Membership (Brexit) Result

Now that the UK has voted to leave the EU, there are many political matters that will require decision-making and negotiation at a European Union and UK level. How long it might take, what form it might take and what the end result might be is at this point unknown. However, as the withdrawal mechanism in Article 50 of the Lisbon Treaty will take at least 2 years from the date of formal notification to the European Council, despite the uncertainty business will continue, as usual, on a day-to-day basis.

Key considerations

Although politicians have much to consider, businesses currently based in the UK or those who were previously considering the UK as a route to EU markets also have decisions to make at a strategic, tactical and

operational level. At this point, key areas to consider include:

1. Structure – the rationale for, and structure of, your international operations (e.g. cross border compliance issues, accessing EU markets in the most cost effective manner possible);
2. Tax – implications arising from the point at which the UK ceases to be a member of the EU (e.g. repatriation of profits, holding company structures and VAT); and
3. Regulation – issues affecting the structure and movement of finance, financial services and providers including legislative requirements, applications for authorisation and dealing with supervisory authorities (e.g. central banks and other regulatory authorities).

How we help

As a firm of specialist accountants with a focus on three markets; Financial Services, International Business and Government, we advise global financial services providers, life sciences and technology businesses, and their advisors on all aspects of doing business in Europe through Ireland.

We are experts in the provision of Audit, Tax, Advisory and Outsourcing services. Our approach is to provide established international companies and start-ups with the strategic insight, local knowledge, ideas and support necessary to facilitate their overseas expansion into Europe via Ireland. This is what we do every day.

The decisions businesses now face require multiple service delivery solutions. We are fully integrated into the international trade ecosystem. As a founding member of Ireland, Gateway to Europe, we work closely with industry leaders, entrepreneurs, service providers, trade bodies, Irish and international law firms, and government bodies such as Enterprise Ireland and IDA Ireland.

For more information please visit www.eisneramper.ie or call our Brexit Advisory team on +353 1 2933400.

EisnerAmper Ireland is the Irish owned member of EisnerAmper Global, a specialist network of independent member firms operating via global financial trading hubs.

To read more about Brexit and to download our Brexit guide please select here.

Frank Keane meets with students of Notre Dame University

On June 21 2016, Frank Keane, Partner and Head of International Business, joined Michael Naughton, VP of Marketing in Diona and Jan Sanders, MD in The South Bend Clinic, Illinois for the Professional Development session hosted by the Keough Naughton Notre Dame Centre. The session, entitled “The Power of the Network” took place in O’Connell House, Dublin, home to the Keough Naughton Centre, which hosts a range of academic programmes for the University of Notre Dame, and was attended by students from Notre Dame University who are in Dublin on a work experience programme as part of their college degree. Frank shared his knowledge and skills in the importance of developing a strong network and spoke of EisnerAmper Ireland’s relationship with Notre Dame University.

To learn more about our International Business offering please select here.

Premier International Associates Conference, Toronto

Jennifer Kelly, International Business Director, and Aoife O’Leary, Assistant Manager in Tax at EisnerAmper Ireland, travelled to Toronto to attend the Premier International Associates Conference which was held from 3 to 5 June 2016.

EisnerAmper Ireland is a member of Premier International Associates, a global network of accounting, tax, legal and business consulting firms. The bi-annual conference presents members with the opportunity to build relationships with member firms and to gain in-depth insights into technical updates through attending the presentations, Q&A sessions, group discussions and workshops offered by members.

The June conference took place in the Park Hyatt Toronto and was a great opportunity for Jennifer and Aoife to network with other member firms.

For more information on EisnerAmper Ireland’s International Business offering please click here.

Frank Keane interviewed for Global Finance magazine

Frank Keane, Partner and Head of International Business, was interviewed by Karen Kroll, reporter with Global Finance, in relation to International Business planning and the possible impact of BEPS. Karen’s article “Tax Planning Goes On Steroids” is in the June 2016 edition of Global Finance where she cites Frank on his point that although many of the principles in BEPS don’t have any legally binding status, countries might opt to incorporate them into their tax codes anyway but that this should not impact on Irelands position in being the location of choice for international expansion. The full article can be viewed here.

Since mid-2015, Frank and the International Business team have been carrying out a study in the US and Ireland on the motivations for internationalisation.  In 2015, the media narrative in the US was around Ireland’s position as a location of choice for internationalisation being primarily tax driven, however this did not fit with the clients that EisernAmper Ireland were working with and therefore it was decided that the motivations for internationalisation are varied and worth understanding.

One finding of

the study is that the most common reason companies internationalise from the US to Ireland is to be closer to their European customers and to understand their buying behaviours.  However, there is no “European” buying behaviour, each country is different.  That means you need to be able to understand each country’s culture and nuances.  To do this you need people who were born in each European country to work with customers from those countries.  Your choice is to open operations in each country or find a location where people from all over Europe will come and live.  Ireland is that place and EisnerAmper Ireland have those people.

To find out more about our International Business team and the specialist services they provide, please select here.

Whitechurch Boxing club presents the Raw Rumble

On Saturday 11 June 2016, Claire Walsh, Communications Executive took part in Raw Rumble, a charity boxing fight in aid of Our Lady’s Children’s Hospital Crumlin and Whitechurch Boxing Club. With no previous boxing experience, Claire began training for the event in March 2016, just 12 weeks prior to the event. Sixteen fights took place on the night and the event was attended by over 200 people.

After a nervous wait, Claire took to the ring for the last bout of the evening and took the win after going three rounds with her opponent. In the weeks leading up to the event, Claire raised in excess of €400 in sponsorship, the majority of which came from her colleagues in EisnerAmper Ireland. Approximately €6,000 was raised in total and will be split between the two organisations.

Whitechurch Boxing Club was established in 2009 and aims to become one of the leading clubs in the country through the hard work and dedication of both the coaches and the boxers.

Our Lady’s Children’s Hospital is Ireland’s largest paediatric hospital. Their mission is to constantly improve the health and wellbeing of children and adolescents in a safe environment which is driven by quality healthcare and supported by excellence in knowledge, education and research.

FCA careers evening – “Staying relevant in a challenging market”

On June 9 2016, Frank Keane, Partner and Head of International Business was invited to speak at the second careers evening of the year for FCA members. This event took place in Chartered Accountants House on Pearse street and was aimed at FCA members with an interest in looking at the need to stay relevant in a challenging market. A large part of staying relevant involves having a skillset and knowledge base that is current, marketable and transferable. Being relevant and staying up to date is essential to career success as it allows members to evaluate their skills and experience in relation to market developments. After the seminar, attendees were invited to network with other members over wine and canapes.

More about the event can be found on the Chartered Accountants website here.

To find out about the career opportunities with EisnerAmper Ireland, please click here.

EisnerAmper Ireland supports Techies4TempleStreet

EisnerAmper Ireland is proud to be a Gold Partner for the 2016 Technies4TempleStreet event taking place in Dublin on 8 July 2016.  Techies4TempleStreet is a unique charity event bringing together the technology community and its partners to network and compete in an intellectually challenging treasure trail while making an impact on the lives of the next generation of techies.

On 8 July, our team from EisnerAmper Ireland will meet in Dublin’s RDS with the other participating teams to be faced with questions, clues and activities and will utilise digital media platforms on the day to chart their progress.  The winning team will be crowned the “Smartest Techies” at the post event party.  This event will unite the technology industry with technology advisors, VCs, and lawyers, to compete in a treasure trail where strategy and team work will ultimately determine the winners.

If you would like to join us and over 1,000 others and take to the streets of Dublin for a unique treasure trail, combining outdoor activities with digital media challenges whilst making a positive impact to the lives of sick children across Ireland then register here now.

EisnerAmper Ireland – Foundation Member of Irish Australian Chamber of Commerce, Irish Chapter

EisnerAmper Ireland is pleased to announce that we are a Foundation Member of the Irish Chapter of the Irish Australian Chamber of Commerce. The Irish Australian Chamber of Commerce is Australia’s premier Irish Australian business organisation, committed to adding value and bringing opportunities to members, drawn from a broad range of industry sectors and demographics across Australia.

Dozens of Australian companies are now active in Ireland across many sectors and Enterprise Ireland currently supports over 150 Irish client companies from their Sydney office. Additionally, a significant number of Irish professionals who have been working in Australia in recent years are looking at returning to Ireland, many with Australian partners. Until now, there has not been an organised business group focused on supporting and creating opportunities for Australians in Ireland and Irish businesses seeking to do business in Australia. The Irish Chapter of the Irish Australian Chamber of Commerce will help create opportunities for members locally, nationally and internationally.

The Irish Chapter will be officially launched on Wednesday 1 June 2016 at Bank of Ireland’s House of Lords building on College green in the company of chapter Patron, Ambassador Ruth Adler, Australian Ambassador to Ireland.

To find out more about The Irish Australian Chamber of Commerce select here.

To find out more about EisnerAmper Ireland’s International Trade offering select here.

EisnerAmper Ireland become member Firm in Allinial Global

EisnerAmper Ireland are pleased to announce we are now members in Allinial Global. Terry Snyder, President and CEO of Allinial Global and Job Dieleman, Regional Director, Americas confirmed the news on 21 May saying “we really look forward to working with you and to grow together”. Allinial Global is an accounting firm association of legally independent accounting and consulting firms with offices in North America and throughout the world through international members and partnerships. There are 97 member firms in 13 counties giving access to in excess of 1,300 partners and 8,200 staff worldwide.

Frank Keane, Partner and Head of International Business at EisnerAmper Ireland, will be presenting at Allinial Global’s International Forum: Washington DC from 26-28 June 2016. The session is titled “Doing Business in Key Economic Centres” and Frank will discuss doing business in Europe using Ireland as a base, which will be followed by a roundtable discussion covering topics submitted and selected by attendees to address the key issues facing their firms in relation to international business.

To find out more about the International Forum please select here.

To find out more about out International Trade offering please click here.

Chartered Accountants Ireland Annual Conference – “Game Changers”

Frank Keane, Partner and Head of International Business, delivered a session titled “Advising International Companies”,  at this year’s Chartered Accountancy Ireland (“CAI”) Annual Conference “Game Changers”, which took place in the Radisson Blue in Galway on 12 and 13 May.

As Head of International Business Frank assists companies with the execution of their internationalisation plans into, and out of, the European market.  Frank works with globally based clients, trade bodies, professional advisors and government – to Make Trade Happen.  Frank’s clients include firms at various points of their lifecycle  from international “start-ups” through to those funded with Seed and Venture Capital in addition to a number of Public companies.  In providing these services, Frank works closely with contacts and clients of state agencies including IDA Ireland, US Trade Gov, and IE Singapore.

The “Advising International Companies” session covered three main topics; What is internationalisation?; EisnerAmper Ireland’s international trade focus; and Recent findings on internationalisation.  In November 2015, Frank and his team carried out research into the reasons and motivators for companies establishing entities in    Ireland.  They met over 200 people on both sides of  the Atlantic to discuss  and discover  the initial rationale  for internationalisation.  Frank delivered the results of this research during his session at the conference.  The presentations from the conference are available to view here.

To find out more about EisnerAmper Ireland’s International Trade offering please click here.

Frank Keane to present at International Forum in Washington DC.

Frank Keane, Partner and Head of International Business at EisnerAmper Ireland, will be presenting at Allinial Global’s International Forum: Washington DC from 26-28 June 2016. The session is titled “Doing Business in Key Economic Centres” and Frank will discuss doing business in Europe using Ireland as a base, which will be followed by a roundtable discussion covering topics submitted and selected by attendees to address the key issues facing their firms in relation to international business.

The International Forum provides an opportunity for attendees to network with firm leaders. The event will take place at the Mandarin Oriental in Washington

DC and follows on from the success of the first International Forum which took place in Amsterdam in December 2015. Firms who attended the first International Forum have already reported several successful niche-based client solutions that resulted directly from the relationships built in Amsterdam.

To find out more about our International Trade offering please click here.

Introducing the first winners of The International Challenge Award

The International Challenge Award was founded and is now managed by EisnerAmper Ireland and EisnerAmper LLP in collaboration with Ireland Gateway to Europe.  Companies who are seriously considering expanding into Europe and meet the entry criteria are invited to put themselves forward for the International Challenge.

The inaugural International Challenge Award event took place on Friday 22 April in the Seaport Hotel in Boston.  Five companies pitched to an international delegation to win the coveted title of “Company most likely to internationalise”. Two of the five companies were awarded the title; PeopleHedge, a company that helps importers and exporters with trade intelligence, foreign exchange and access to capital, and OnCorps, an adaptive decision analytics company that nudges users to make better decisions.  Both companies will receive consultancy services from top industry experts  and complimentary American Airline Business miles good for up to four domestic US flights.

Applications are now open for the next International Challenge Award event which will take place in Tel Aviv, Israel in August 2016.  Click here to submit an application.

To read more about EisnerAmper Ireland’s International Trade offering select here.