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ARTICLE · 16 MARCH 2015

ICAV Legislation Enacted

Dillon Eustace
Dillon Eustace
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As you may recall from previous circulars, Ireland has been promising for some time to introduce a new type of corporate fund structure known as the "ICAV"...

IrelandFinance and Banking
Brian Kelliher
Brian Kelliher
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As you may recall from previous circulars, Ireland has been promising for some time to introduce a new type of corporate fund structure known as the "ICAV" which will not be required to be incorporated under the Irish Companies Acts and will not be a public limited company ("plc"). ICAVs will be available as UCITS and as AIFs, will offer a more administratively efficient structure for corporate fund vehicles (benefitting from the disapplication of company law provisions designed for trading companies), and will be structured so that they can "check-the-box" to be treated as a partnership or a disregarded entity for US federal tax purposes. That will facilitate investment by US taxable and tax-exempt investors.

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