The label was bestowed upon the nation by Nomad Capitalist, a website and bespoke service catered to investors and entrepreneurs who wish to move abroad.

The service’s team of experts analysed the visa requirements, cost of living, quality of life, and other important factors of a number of countries around the world to formulate their “top 10” list.

A high standard of living, low corporate tax rates, and a business-friendly environment were the main reasons given for Ireland being a great place for entrepreneurs.

The article also highlighted that Ireland is an English-speaking EU country with rich culture and beautiful landscapes.