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The Central Bank of Ireland is the key regulator responsible for the authorization of all types of funds in the jurisdiction. This refers to the registration of businesses under UCITS in Ireland and the establishment of Alternative Investment Funds in Ireland.

If you are interested in licensing as an Irish fund manager, please note that the regulator is in charge of supervising the Irish-registered Investment Managers of all types.

Fund set up in Ireland: What you should know

Typically, a sound business plan should be prepared prior to the fund kick-off. The plan contains a strategy on how the fund will grow over time, a marketing plan to target future investors, and an executive summary, which ties all of these goals together. What is a problem is writing a business plan to explain to the regulator how the business will work? Lots of writing and business-speak. This then has to be endorsed by a qualified accountant and, certainly, by a legal professional. Then the registration procedure starts.

The following documentation will be required to submit to the financial regulator:

  • constitutional document;
  • deposit and administration agreements;
  • prospectus.

By the way, legal experts of our company provide our clients with comprehensive assistance in preparing a prospectus for entering the investment market of Ireland.

The fast track procedure can be used to start an investment fund for qualified investors in Ireland. It consists in the fact that the applicant simply submits the appropriate package of documents the day before approval.

Irish fund management specifics

Crucially, before starting the fund in Ireland to find someone qualified to run it. What does fund management activities include? First of all, this is the calculation of the value of net assets, the payment of distributions, and the maintenance of the fund financial records to name just a few.

NOTE:

The fund administrator may delegate certain administrative duties to professionals outside of the jurisdiction.

Profit-sharing

If you are interested in registering a UCITS in Ireland or obtaining an Irish AIFM license, please note that managers must implement remuneration policies that:

  • take steps to prevent all risks incompatible with the risk profile or rules governing the fund concerned;
  • do not violate the duty to act in the best interests of the fund.

Finally

Among regulatory priorities for 2020, efforts initially focus on regulating UCITS liquidity management activities at the EU level and the entry into force of the Investment Firms Regulation Directive. For a more detailed explanation on this topic, please contact our legal experts to schedule an individual consultation on investment regulation in Ireland.

We do our best for our clients to achieve their objectives. We achieve this with the vast experience and hands-on approach that our advisors can offer.