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ARTICLE · 07 NOVEMBER 2023

Ireland Gets ELTIF-Ready

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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On 1 November 2023, the Central Bank of Ireland (Central Bank) published a consultation paper outlining the proposed domestic supervisory and reporting framework...

IrelandWealth Management
Brian Kelliher
Brian Kelliher
Cillian Bredin
Cillian Bredin
Derbhil O'Riordan
Derbhil O'Riordan
David Lawless
David Lawless
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KEY POINTS

  • The Central Bank does not propose imposing any additional product-specific rules on Irish-domiciled ELTIFs
  • The Irish-domiciled ELTIF can be established using a range of legal structures, including an ICAV, a PLC, an ILP, a unit trust or a CCF
  • The Irish-domiciled ELTIF will benefit from the same favourable tax treatment currently afforded to Irish-domiciled regulated funds
  • It will be possible to structure the Irish-domiciled ELTIF as an umbrella fund with segregated liability between sub-funds which can house different investment strategies or investor types

Introduction

On 1 November 2023, the Central Bank of Ireland (Central Bank) published a consultation paper outlining the proposed domestic supervisory and reporting framework which will apply to Irish-domiciled ELTIF funds (Consultation Paper).

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