There are many industries that are contributing to the thriving economy of Dublin, by some measures the fastest-growing city in all of Europe. Most visible of these is Dublin’s thriving tech sector, with Silicon firms such as Google, Facebook, Apple, Airbnb, and TripAdvisor all wielding an outsize presence in the local economy.
However, that’s not the whole story. One industry that is increasingly responsible for a pivotal amount of Dublin’s economic activity and is on track to grow faster than virtually any other part of the Irish economy is the legal sector.
In the past couple of years alone, the number of people working in the legal sector in Dublin has surged, while some of the world’s largest law firms and legal services businesses have decided to set up shop in the capital. Let’s take a closer look at just how Dublin is setting itself up to become a global legal industry hub.
Legal bigwigs converge on the capital
One thing that is clear is that Dublin’s appeal as a place to conduct legal services is growing around the world. Just last year, the world’s largest corporate law firm, Dentons, took steps to open a massive new office in the heart of the city center.
This news came after several years of high-profile openings, with massive global law firms such as DLA Piper, Pinsent Masons, Simmons & Simmons, Fieldfisher, Dechert, and Covington & Burling all opening up offices in Dublin in the past two years alone.
Part of this is related to Brexit, which has prompted many major firms with a presence in the UK to open up a Dublin office so that they can retain a foothold in the EU legal market. However, other factors are at play.
For one, US legal qualifications are widely and increasingly accepted in Ireland as part of a concerted push, making the city much more appealing as a base for US firms. In addition, Dublin’s favourable tax environment has pushed many firms to set up their EU headquarters in Dublin to become more financially competitive.
High-growth legal sectors
For those looking to launch their legal career in Dublin, there are plenty of sectors and opportunities to take advantage of. One of these is the growing field of personal injury law, which is being driven by renewed demand for qualified lawyers who can settle injury claims in Ireland.
Looking into the business around compensation for personal injury claims, there are many firms such as McGinley Solicitors, which has been in business since 1988 and has secured millions of euros in compensation for Irish claimants.
Another high-growth sector is legal business services, with much of the new positions in this area being offered by the ‘Big Four’ accounting firms – Deloitte, E&Y, PWC, and KPMG, all of which have large offices in Dublin. These firms have been on something of a hiring spree as of late, as business owners that are relocating to Dublin due to Brexit seek legal guidance on the Irish system.
There has never been a better time than right now to launch a legal career in Dublin. As the city becomes one of the most important legal hubs in Europe, endless opportunities await.
Feature Image: Source: Unsplash