Ireland is home to a substantial number of payment institutions, some home-grown, and others drawn to Ireland by its active and growing FinTech sector.
Aside from Ireland’s position as a FinTech hub, there are several advantages to being authorised in Ireland as a payment institution, including:
- a strong regulatory framework with a credible and experienced regulator, the Central Bank of Ireland (“CBI”) which promotes innovation through measures such as its Innovation Hub;
- a favourable passporting regime, with the ability to operate in other EEA Member States either on a branch or a cross-border services basis;
- a competitive tax regime, due to a combination of a standard 12.5% corporate tax rate for businesses with revenues less than €750 million per year and an exceptionally extensive and comprehensive set of double tax agreements; and
