Open a Trust in Ireland

If you have decided to open a trust in Ireland, our local specialists will help you navigate the process. Discover below the main features of this entity and what its establishment requires.

Can I open an Irish trust if I am a foreigner? Do I need to travel to Ireland for that?

Yes, you can set up a trust in Ireland even if you are a foreign national. You can carry out the procedure remotely through our local agents if you are not able to come here.

NOTE: Irish trusts can be created by adults who have the legal capacity to do so.

What are the basic requirements to create a trust in Ireland?

The following:

• the intention to create the trust must be defined with clarity by the settlor;
• the same settlor must also stipulate the assets to be held in the trust;
• the trustee or trustees must be appointed BEFORE creating the trust;
• the settlor must also nominate the beneficiary or beneficiaries.

Why should I set up a trust in Ireland?

Here are some of the most important benefits of trusts in Ireland:

• they enable the beneficiaries to pay less tax on inheritance compared to a will, for example;
• they are a great way of distributing assets according to the settlor’s wishes;
• they can also be used to reduce the tax burden on the settlor;
• they are an excellent tool to protect children and other vulnerable family members;
• Irish asset protection trusts can be set up by foreigners, as there aren’t any restrictions in this sense;
• a trust can also be used as a means for planning and managing a person’s real estate property;
• once the trust is incorporated, it can benefit from a perpetual life (there are no requirements concerning the trust’s duration);
• foreigners can benefit from tax exemptions, as long as certain conditions are met (for example, the assets are located outside Ireland).

What types of trusts can be established in Ireland?

Ireland is a European country in which foreigners can establish various types of trusts, among which we mention the following:

• discretionary trusts, in which the assets are held in trust for multiple beneficiaries;
• the bare trust, in which the assets are assigned to a single beneficiary;
• the fixed interest trust in which the income generated through the assets is distributed to the beneficiaries in shares fixed by the trust deed (discretion belongs to discretionary trusts);
• charitable trusts which are created for non-profit reasons.

Our local specialists are at your disposal if you want to create a trust. Equally, we can help you set up a company in Ireland if this option suits you better.

How do I create an Irish trust?

The simplest way is to have our specialists draft a trust deed or agreement. Another option is to draw up a will.

IMPORTANT! The trust agreement must provide for the transfer of the assets to the fiduciary.

How can I create an Irish trust through a testament?

The procedure is the same as when writing one’s testament; however, the document must include the elements of the trust.

Foreign citizens can also set up Irish trusts through wills, as long as they have assets, such as real estate property located in this country.

Are there any registration requirements I must comply with if I open a trust in Ireland?

Yes, the trust must be registered with the Central Register of Beneficial Ownership of Trusts (CRBOT), which is maintained by the Revenue Commission.

We also invite you to watch our video on this subject:

What is the duration of a trust in Ireland?

There is no limit to the lifetime of a trust in Ireland.

Persons who want to register an Irish trust can contact our team of specialists in Irish company formation for consultancy services on this subject.