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ARTICLE · 06 AUGUST 2014

Irish Collective Asset-Management Vehicle Bill Published

Maples Group
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The Irish government has published a final draft ICAV Bill which will allow the incorporation of a new, tax efficient corporate structure for Irish investment funds.

IrelandFinance and Banking
Barry McGrath
Barry McGrath
Peter Stapleton
Peter Stapleton
Stephen Carty
Stephen Carty
Paul Dobbyn
Paul Dobbyn
Carol Widger
Carol Widger
Adam Donoghue
Adam Donoghue
Andrew Quinn
Andrew Quinn
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The Irish government has published a final draft ICAV ("Irish Collective Asset-management Vehicle") Bill (the "Bill") which, once enacted, will allow the incorporation of a new, tax efficient and innovative corporate structure for Irish investment funds.

Formal enactment of the Bill is expected to occur in Q3 or Q4 of 2014 and the Central Bank of Ireland ("CBI") has committed to authorising the first ICAVs shortly thereafter allowing asset managers to make use of the ICAV structure before the end of the year.

Initial industry feedback estimates that hundreds of ICAVs will be formed in the initial phases representing billions of euros. As a result, it will immediately become one of the most popular legal forms for Irish funds.

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