Ireland is a leading jurisdiction for the establishment of Undertakings for Collective Investment in Transferable Securities (UCITS).
The principal advantage for establishing UCITS in Ireland is that UCITS (following completion of a relatively straightforward registration process) can be sold to retail investors in other EU Member States without requiring further authorisation in the Member State where the UCITS are distributed.
Outside of the EU the UCITS brand is recognised globally, which is of critical importance for managers seeking global distribution opportunities. Following compliance with a local registration procedure, regulators in the Far East, the Middle East and Latin America are comfortable to allow UCITS to be sold in their jurisdictions. Our team assists managers in registering UCITS in foreign jurisdictions and in maintaining compliance with local regulatory requirements.
UCITS established in Ireland are not subject to Irish income or capital gains taxes on their investments, non-Irish resident investors are not subject to any taxes on distributions or on redemption of shares and it can be efficient from a tax perspective to use Irish UCITS for acquiring international investments.
Our lawyers have extensive experience in establishing UCITS in Ireland that are designed for international distribution, which may be structured as: an Irish Collective Asset-management Vehicle (ICAV); an investment company with variable capital; a unit trust; or a common contractual fund (CCF).