Fund Domiciles
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Notices
Irish Enhancements to assist re-domiciling of non-Irish Fund Companies
Proposed enhancements to Irish Company Law will make it easier and more efficient for fund structures to redomicile into Ireland.
The proposed legislation is of obvious interest to promoters of alternative investment funds such as hedge funds, private equity funds and real estate funds who wish to redomicile their offshore funds to a regulated well-serviced EU jurisdiction. It is hoped that in particular, the legislation will benefit the many hedge fund managers seeking to avail of the distribution opportunities afforded by the UCITS Directive and for those preparing for the introduction of the AIFMD.
The changes in essence mean the corporate change no longer requires an asset for share transfer and also allows the fund structure to retain its previous performance. The new regime will allow the migrating fund to be authorised in Ireland as a non-UCITS or UCITS fund so long as they meet certain relevant criteria.
If not already directly regulated by the Irish Financial Regulator, the Promoter and Investment manager of the fund structure would need to gain such authorisation prior to the redomiciliation becoming effective.
For further information or to get a copy of the full details on these legislative revisions please contact Adrian Whelan, Managing Director, FMConsult Ireland at +353 1 2342448 to discuss further.
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