Ireland applies to host European Banking Authority after Brexit

European states bid to host UK-based EU bodies

European states bid to host UK-based EU bodies

Dublin has joined 22 cities in formally submitting its bids to host the European Medicines Agency (EMA), one of the world's largest pharma regulatory bodies in the wake of the Brexit result a year ago.

April 2016 figures show the EMA is made up of 885 staff - 586 of whom are temporary agents and 145 contract.

The Council will be looking for evidence that the new host city can guarantee that the agency will be operational when the United Kingdom leaves the European Union, is in an accessible location, will be able to offer schools for the children of the staff and access to the labour market and health care for the employees' families, can promise business continuity and geographical spread.

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"Ireland's offer to host the European Medicines Agency (EMA) has today been submitted to the Secretary-General of the Council of the European Union", the Department of Health confirmed.

Dublin is competing with cities such as Paris and Frankfurt, which have substantial financial services industries. This includes about 40,000 hotel stays for visitors each year.

"The fact that the United Kingdom has chose to leave the European Union has resulted in significant disruption and uncertainty". The country should finish the talks on Brexit before March 29, 2019.

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He added: "Our transport links to Europe, our culture, language and skilled multilingual education workforce make Dublin an attractive destination ahead of other potential locations".

"The EBA relocation to Dublin would be positive strategically and symbolically; having such a prestigious EU agency here would further raise our profile as global leaders in the financial services sector and demonstrate our position as a destination of choice for worldwide companies seeking a location within the European Union". With the deadline up to present bids, the European Commission will assess the applications based on a set of criteria during the next two months.

Brussels is due to decide on the authority's new home in November.

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