The Irish International Financial Services Centre (IFSC) is at the heart of Ireland’s success as a global centre of excellence for financial services.
The IFSC was developed in 1987 to drive the development of the financial services sector. The IFSC now plays host to many of the world’s leading financial institutions along with a sophisticated support network including accountancy, legal, actuarial, taxation, regulatory, telecommunications and other service providers. In addition, many institutions have subsequently established operations outside the IFSC and across the country.
Within the banking sector, Ireland has attracted many of the world’s largest banks to establish operations in Ireland. Their Irish operations range from retail banking to intragroup global treasury functions.
Ireland has also positioned itself as a centre of excellence in the international funds sector and has become the largest hedge fund administration centre in the world. In addition, Ireland’s tax neutral funds regime for non-resident investors has resulted in a surge in the number of funds which are domiciled in Ireland.
Attracted by the low corporation tax rate and the ease of doing business in Ireland, many of the world leaders in securitisation, insurance and leasing, in particular aircraft leasing, have established significant operations in Ireland.
Tax Partner, Head of
Foreign Direct Investment
T: + 353 1 417 2476