Fund promoters are increasingly seeking to move their funds onshore to a recognised, regulated domicile with an appropriate regulatory and tax framework and the right expertise.
Why move your fund to Ireland?
- Robust and efficient regulatory environment
- Internationally recognised EU jurisdiction
- Global fund distribution to over 70 countries
- English-speaking, common law jurisdiction
- No.1 for alternative investment fund administration
- The most favourable tax environment
- Fast-track authorisation for Qualifying Investor Funds
- Optimum time zone to ensure global coverage
- Efficient fund re-domiciling process
- ISE is the leading stock exchange for listing funds
Ireland’s streamlined fund re-domiciling process
The Companies (Miscellaneous Provisions) Act 2009 introduced a new, efficient fund re-domiciling process that ensures minimal disruption to day-to-day management and distribution of the fund with no change in the tax status of the underlying Investors.
- Ability to retain the fund’s performance track record post migration
- Avoid potential adverse tax consequences for investors that might otherwise arise under a merger of an offshore fund with a new onshore fund
- Prevent a charge to transfer taxes that might otherwise arise from the transfer of assets under a fund merger
- Removal of the administrative burden of moving assets to a new fund
- Upon authorisation, qualification is assured for the tax exemptions available for Irish regulated investment funds
- Simultaneous authorisation (by the Central Bank) and registration (by the Companies Registration Office) to avoid delays and ease the administrative burden
- No requirement for a general meeting of shareholders of the migrating company in Ireland
The streamlined fund re-domiciling process is available to both companies and unit trusts. Funds domiciled in the following jurisdictions can avail of the new re-domiciling framework: Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Jersey and the Isle of Man.