Ireland has become a leading jurisdiction for the establishment of special purpose vehicles through its favourable legal structure and tax regime international status. City Trust is specialised in the provision of SPV products in Ireland to a wide range of international clients wishing to set up structures for the management of financial assets.
Strong Legal Framework
Ireland has a favourable legal and regulatory environment which recognises the concept of trusts. The establishment of a trust is very straightforward, and in most cases does not require specific approval from the Central Bank.
Favourable Tax Regime
One of the advantages Ireland has as a jurisdiction for Special Purpose Vehicles is due to Section 110 of the Taxes Consolidation Act (1997). This allows for an SPV to engage in a wide range of activities that are essentially tax neutral, including the holding or management of various types of financial assets. These activities have recently been expanded to include leasing of plant machinery and aircraft. Ireland, as such, is an ideal jurisdiction for locating an EU or OECD company with minimal taxation exposure.
As Ireland is a member of the OECD and European Union, it provides an ideal onshore location for investors and companies locating an SPV. Many investors prefer to purchase debt onshore, and locating in offshore jurisdictions can often increase the cost of transactions. As an OECD / EU state, Ireland provides a strong corporate and legal framework with a favourable tax regime through the aforementioned Taxes Consolidation Act.
For further details please contact Michael Treacy on +353 1 675 3140, or at email@example.com