Thread by @paddycosgrave

Thinking of locating your company/assets in Ireland? Well, Ireland now has a huge new range of tax structures that allow you to avoid all taxes whatsoever, never file public accounts, enjoy no touch regulation, and best of all you can get set up within 24 hours. Gather round..

Forget the Double Irish, Irish Malt etc... meet the L-QIAIF - Ireland's response to getting caught out by @EU_Commission @vestager & @DonnellyStephen on various tax structures, in particular the S110. Here's how it all works as of 2019 in 5 easy to follow steps

Tax Free: QIAIFs, of which there are 5 varieties, are exempt from all Irish taxation, including VAT and duties, and can make distributions to non–Irish residents free of any Irish withholding tax.

Secret: Four of the five QIAIF wrappers are not required to file public accounts. Furthermore, the reports they file with the Central Bank of Ireland cannot be shared with the Revenue Commissioners of Ireland.

No touch regulation: The Central Bank of Ireland @centralbank_ie has no mandate to oversee QIAIFs. No other statutory body in Ireland has a mandate to oversee QIAIFs.

No restrictions: There are no restrictions on the assets a QIAIF can hold.

24 Hour Authorisation: The Central Bank of Ireland runs a "fast track" 24–hour approval process for QIAIFs. The Central Bank of Ireland does not review documents but relies instead on confirmations from Directors and Irish advisors.

Someone has provided exceptional detail in this lengthy Wikipedia article on QIAIFs: en.wikipedia.org/wiki/Qualifyin…

I should warn you the Irish Gov through @IDAIRELAND does pay people, in breach of Wikipedia's TOS, to edit tax related articles on Wikipedia. But that's another story!