Ireland is strong in the alternative sector and it provides services to close to 40% of the entire global hedge fund market, according to industry experts. For European hedge funds, according to the last EuroHedge administrator survey [read earlier story here], Ireland accounts for almost two-thirds of the assets under administration.
One of its main competitors in the UCITS hedge fund space is Luxembourg, the second largest fund jurisdictions in the world and the largest in Europe. This is followed to a lesser extent by Malta which has 5% corporation tax. Ireland’s corporation tax is 12.5% and the same tax in Luxembourg is 10% to 15%.
John McCann managing director of Trinity Fund Administration
So what are the advantages of domiciling a fund in Ireland?
Dermot Butler, chairman of Custom House Fund Services, says that Ireland has spent the last 20 years developing itself as a competent jurisdiction which became...