Hedgeweek Guide To Setting Up Alternative Investment Funds - Ireland

1. What if any are the investor restrictions

Irish Funds are not required to have a minimum number of investors, however, certain Irish regulated funds must, depending on the category of fund, and the specific wording of the legislation, invest capital raised from "the public" (UCITS), raise capital by providing facilities for "direct or indirect participation by the public" (Non- UCITS investment companies) or must constitute an arrangement made for the purpose, or having the effect, of providing facilities for the participation by "the public" (non-UCITS unit trusts).

There are certain other categories which are not widely used. For example, non-designated collective investor funds (which are available to life assurance companies, pension funds and other collective investors), are not required to facilitate direct or indirect public participation). These are not widely used due to the fact that their income and gains are taxable in Ireland.