What are the best investment options for Irish expats?
Irish expatriates can invest through offshore accounts, international ETFs, property abroad, or pensions built up in Ireland.
Holding on to local options can make sense in some cases, but it’s not always the most efficient choice if you’re planning to live abroad long term.
This guide breaks down how tax residency affects your investment strategy, what to do with Irish assets you already own, and which global investment options Irish expats can consider.
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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.
Investing as an Irish expat
Irish expats can invest both in Ireland and abroad. The key is ensuring the investments stay tax-optimized and compliant in both Ireland and the new country of residence.
What works best overall depends on tax residency and long-term targets.
How to invest as an Irish expat?
To invest wisely as an Irish expat, first determine your tax residency status as this will influence how your investments are levied in both Ireland and your host country.
From there, consider using offshore platforms, regulated host-country brokerages, or keeping certain Irish assets, such as pensions, in place.
Your overall approach will depend on your location, access to local financial services, and residency plans in the long term.
What are the best investment options in Ireland for expats?
The best investments in Ireland for expats include local property, savings accounts, Irish government bonds, pension schemes, and investment funds regulated by the Central Bank of Ireland.
Many expats also consider contributing to Irish-approved retirement plans or investing in local businesses to maintain financial ties and benefit from Ireland’s stable economy and strong financial sector.
Real Estate in Ireland
Expats can buy property in Ireland. Property in cities like Dublin, Cork, and Galway remains popular among Irish expats. Many keep or buy homes to rent out or eventually return to.
However, Irish rental income is taxable in Ireland and possibly again in your country of residence, depending on treaties. Capital gains may also be taxed on sale.
Pension Accounts
If you’ve worked in Ireland, you may have built up private pension assets. These can typically be left in place and accessed later in retirement, though access rules, taxation, and currency exposure will vary.
Irish expats may also explore transferring pensions to overseas schemes like QROPS, depending on residency and tax status.
Irish Domiciled Funds and Shares
You may continue to hold Irish investment funds or Irish-listed shares, even while abroad. However, taxation can get complex.
For example, deemed disposal rules on Irish funds every 8 years still apply, and your host country may have different views on fund structures.
Professional tax advice is essential if you maintain Irish financial products while abroad.
Is Ireland a good country to invest in?
Investing in Ireland is valid and can be done, but managing them from abroad requires attention to tax, access, and repatriation rules.
Note that if you plan to live abroad for a long time or for good, it makes more sense to focus on diversified international investments.
Best Offshore Investments for Irish Expats
Many Irish expats turn to offshore platforms, globally diversified ETFs, or tax-advantaged retirement accounts in their new country of residence.
These options offer more flexibility, better currency stability, and easier access.
Once you’ve left Ireland, it often makes more sense to invest internationally rather than keep everything back home.
Offshore Investment Platforms
Irish expats often use offshore accounts based in places like Luxembourg, the Isle of Man, or Singapore.
These platforms allow access to global ETFs, mutual funds, and multi-currency portfolios while offering legal and estate planning advantages.
International Real Estate
Some Irish expats invest in real estate abroad both for income and possible residency benefits.
These properties are typically easier to manage than Irish real estate from afar, and local rental yields may be higher.
Global ETFs and Mutual Funds
Low-cost, globally diversified ETFs are available to Irish expats through offshore brokers or local financial institutions in their host country.
These funds provide access to global equities, fixed income, commodities, and thematic sectors.
Fixed Income and Capital-Protected Products
Expats looking for capital preservation often invest in bonds or structured notes with downside protection.
These may be held in offshore accounts or via discretionary portfolios handled by wealth managers and other providers.
Host-Country Retirement Plans
You may have access to tax-efficient retirement plans like:
- 401(k) or IRA in the US
- Superannuation in Australia
- SIPP in the UK
These plans offer local tax advantages, though long-term integration with Irish pensions may require careful planning and the exact products depend on where you’re based.
Irish Alternative Investment Options
Irish expats with higher risk tolerance or more capital can explore alternative investments to diversify their portfolios beyond stocks, bonds, and property.
These include private equity, hedge funds, venture capital, structured products, and even private credit.
While these options often require higher minimum investments and due diligence, they can offer uncorrelated returns and access to niche markets not tied to traditional asset classes.
They’re high-risk, though, so interested investors should seek advice.
Offshore Company
Irish expats set up offshore companies to manage international income, hold assets, or trim tax exposure, especially if they no longer live or operate in Ireland.
Popular jurisdictions like the British Virgin Islands and Belize offer low-tax environments, confidentiality, and flexible company structures.
However, tax rules have tightened globally, and Irish Revenue may still view offshore companies as tax-resident in Ireland if they’re effectively managed from there.
Irish Tax Residency
Ireland determines tax residency based on how many days you spend in the country each tax year. You’re considered tax resident in Ireland if:
- You spend 183 days or more in Ireland in a single tax year, or
- You spend 280 days or more over two consecutive years.
Do expats pay tax in Ireland?
Yes. Even if you leave Ireland, you may be liable for Irish tax for up to three years after departure if you’re still considered ordinarily resident.
Domicile, your permanent home, may also trigger tax on worldwide income, even if you live abroad.
If you’re no longer tax resident or ordinarily resident in Ireland, you’re typically only taxed on Irish-sourced income, not worldwide earnings.
It’s crucial to clarify your residency status each year and to avoid unintentional tax exposure.
How are investments taxed in Ireland?
Under investment tax rules in Ireland, Irish expats who remain tax residents are liable for tax on their global investment income — including foreign dividends, interest, and capital gains.
Non-residents, however, are generally subject to investment tax in Ireland only on income derived from Irish sources.
Does Ireland have an exit tax?
Yes, investors are subject to exit tax on chargeable events such as redemptions, transfers, or 8-year deemed disposal rule under Ireland’s fund taxation regime.
Though the fund is liable to pay the tax, it typically recoups it from the investor by withholding or redeeming units.
The standard exit tax rate is 41% for individuals and 25% for corporations (with proper declaration), rising to 60% for Personal Portfolio Investment Undertakings or PPIUs.
Investors cannot offset fund-related losses against other income or gains.
Do I need to declare foreign income in Ireland?
Yes. If you’re tax resident in Ireland, you must declare all foreign income, including investment returns, rental income, pensions, and bank interest. If you’re not tax resident, only Irish-sourced income needs to be reported.
However, Irish Revenue may still request information under international reporting agreements (like CRS or FATCA), especially if you’ve retained ties to Ireland.
Irish Taxes for Expats: Reporting Requirements
Irish tax residents must file an annual self-assessment return (Form 11) if they have foreign income or capital gains. Expats may also need to:
- Declare foreign bank accounts
- Report foreign life assurance policies or investment funds
- Account for gifts or inheritances under Irish Capital Acquisitions Tax rules
- Failure to report these accurately can lead to fines, back taxes, and penalties.
Irish tax on investments vs host countries
Ireland taxes residents on their global income, while most host countries also tax expats on global income, depending on your visa or residency status.
This creates the risk of double taxation, though Ireland has tax treaties with over 70 countries to reduce this.
What happens to my investments if I leave Ireland?
Leaving Ireland doesn’t automatically affect your existing investments, but your tax residency status will.
It’s important to notify Revenue of your departure, review capital gains tax exposure, and understand how your investments are classified abroad.
FAQs
What are the enhanced reporting requirements in Ireland?
Ireland has strict reporting rules for individuals with foreign assets or income. Failure to fully and accurately disclose offshore assets and income can result in severe penalties.
The Irish Enhanced Reporting Requirement is primarily aimed at employers and is separate from the rules that require individuals to declare foreign assets/income in their annual tax returns.
Do I need to file an Irish tax return?
You need to file an Irish tax return if you’re tax resident and have foreign income, rental income from Irish property, capital gains, etc.
Most expats no longer tax-resident in Ireland don’t need to file, unless they have Irish-source income that still triggers tax obligations.
What is the 5 year tax rule in Ireland?
The 5-year rule refers to how long you can live abroad before you lose your ordinary residence status.
Even after you become non-resident, you’re still considered ordinarily resident in Ireland for three years.
What is the common reporting standard in Ireland?
The Common Reporting Standard (CRS) is an international agreement that allows tax authorities to automatically exchange information on foreign financial accounts. Ireland is a full participant.
That means if you hold offshore accounts or investments in a CRS-participating country, that information is automatically shared with Irish Revenue if you’re Irish tax resident.
Are there any tax-free investments in Ireland?
Ireland has very few tax-free investment options. Most income and gains from savings, shares, or funds are taxed.
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