Hedge Funds Onshore Ireland

Ireland Trying to Lure Hedge Funds Moving Onshore

2010 may be the end of London's reign as Europe's premier hedge fund hub, at least that's what competing European nations are hoping. Tougher regulation and higher income taxes are expected to drive away hedge fund managers to more business-friendly countries like Switzerland, and now Ireland. Hedge funds are going to have to move onshore if proposed European Union regulations pass, and Ireland is welcoming the relocating funds with a new law allowing funds to move their domicile to the country in a simple process.

Europe’s existing hedge fund center, London, may be wringing it’s hands over impending European Union hedge fund regulation, but another European capital can’t wait.
Ireland last week approved new rules to make it easier for hedge funds to move their domicile to the Emerald Isle, hoping that the new European regulations will lead many hedge fund managers to move their funds onshore. Among the proposals being considered by European regulators and lawmakers is a ban on marketing funds not domiciled within the EU.
Dublin is already a major center for hedge fund administration. But under legislation passed Friday, it may become a major home for the industry. The new law allows funds to move their domicile to Ireland simply by arranging their departure from their current offshore home, followed by notifying the Irish registrar.
The new scheme does not offer a waiver from meeting other Irish regulatory requirements. Source

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