Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the Central Bank's decision, including banking and payment rails.
Get an investment license in Ireland.
The EU's fund hub with a MiFID gate: the Central Bank of Ireland authorises investment firms under S.I. 375/2017 with IFD capital of €75,000, €150,000 or €750,000 by model, and fund managers under the AIFM and UCITS regulations at €125,000 - beside the 187 fund service providers and 9,310 funds already on its register. The passport reaches 30 EEA states. Corporate tax is 12.5% on trading income. The Bank also prints its own clock: 245 calendar days on average in 2025, from nine applications and six approvals - a narrow gate, and worth it for the firms that fit.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Ireland in brief
The fund hub with a narrow, honest gate.
Ireland licenses investment firms under the European Union (Markets in Financial Instruments) Regulations 2017, S.I. No. 375/2017. Reg. 5(1) reserves every MiFID II Annex I service - reception and transmission, execution, portfolio management, advice, underwriting, dealing on own account, MTF and OTF operation - to an authorised investment firm, with custody as an ancillary service. Capital sits in Reg. 8 of the Investment Firms Regulations 2021, S.I. No. 355/2021: €75,000 for a firm that never holds client money, €150,000 as the general tier, €750,000 for dealing and firm-commitment underwriting. The Central Bank of Ireland is the single gate. Reg. 10(1) gives it six months from a complete application, and the clock restarts on each information request. Fund management is a separate authorisation - an AIFM under S.I. 257/2013 or a UCITS management company under S.I. 352/2011 - at €125,000 plus 0.02% of assets over €250 million, capped at €10 million.
The commercial case is the industry already here. At 31 December 2025 the Bank supervised 101 investment firms, 187 fund service providers and 9,310 collective investment funds, so the administrators, depositaries and distributors a new manager needs are in Dublin before the manager is. Tax follows: 12.5% on trading income under s.21 TCA 1997, 25% on non-trading income under s.21A, and a 15% minimum only for the large groups inside Pillar Two. Then the candour few regulators offer. The Bank's Authorisations and Gatekeeping Report for 2025 prints nine MiFID applications received, six approved, six withdrawn or closed, and an average of 245 calendar days - with the Key Facts Document stage alone averaging 128 days. Ireland is a fund hub with a narrow gate, and the file has to be right first time. We build it from Dublin.
The EU's fund hub: Central Bank authorisation under S.I. 375/2017 - capital €75k/€150k/€750k under S.I. 355/2021, AIFM and UCITS management companies at €125k, PCFs cleared individually, the 30-state passport, six months statutory and 245 days on the Bank's own 2025 average.
12.5% corporation tax on trading income, 25% non-trading, 15% only for large groups. 187 fund service providers already in Dublin. Built end to end from our Dublin office.
The two builds
The MiFID investment firm - or the fund management company.
Two authorisations from one regulator: the investment firm under S.I. 375/2017 at €75,000-€750,000 by service set, and the AIFM or UCITS management company at €125,000. We fix which one carries the business before any drafting.
The MiFID investment firm - or the €125k fund management company.
01 - MIFID INVESTMENT FIRM
The authorised investment firm
The full Annex I set under Reg. 5(1) S.I. 375/2017 - reception and transmission, execution, portfolio management, advice, underwriting and dealing, custody as an ancillary service - with Reg. 8 S.I. 355/2021 capital at €75,000 without client money, €150,000 with it, €750,000 for dealing on own account.
The full Annex I set under Reg. 5(1) S.I. 375/2017 - reception and transmission, execution, portfolio management, advice, underwriting and dealing, custody as an ancillary service - with Reg. 8 S.I. 355/2021 capital at €75,000 without client money, €150,000 with it, €750,000 for dealing on own account.
- ✓RTO, execution, advice, portfolio management
- ✓€75,000 - no client money or instruments
- ✓€150,000 - general tier
- ✓€750,000 - dealing and firm-commitment underwriting
- ✓6-month clock from a complete file (Reg. 10(1))
- ✓Passport into 30 EEA states
02 - FUND MANAGEMENT COMPANY
€125,000 initial capitalThe AIFM or UCITS management company
The fund-hub licence: an AIFM under Reg. 10 S.I. 257/2013 or a UCITS management company under Reg. 17 S.I. 352/2011 - €125,000 initial capital plus 0.02% of assets over €250 million, capped at €10 million, authorised by the Bank as a fund service provider.
AIFM or UCITS management company at €125,000 plus 0.02% over €250m - the fund-hub licence beside 187 fund service providers.
- ✓AIFM - Reg. 10 S.I. 257/2013
- ✓UCITS management company - Reg. 17 S.I. 352/2011
- ✓€125,000 + 0.02% of AUM over €250m
- ✓Own-funds cap at €10 million
- ✓AIFM clock 3 + 3 months · UCITS 6 months
- ✓187 fund service providers at end-2025
Costs and timelines are confirmed for your case before any work begins. The Bank publishes no application fee - the industry funding levy (from €28,093 for a low-impact investment firm in 2025) and ICCL contributions are itemised in your quote.
Why Ireland
The fund industry, the passport and a regulator that shows its numbers.
Ireland sells the EU passport from inside the union's fund cluster - and tells you in print how long the gate takes.
✓
The fund cluster
187 fund service providers and 9,310 collective investment funds on the Bank's books at 31 December 2025 - the administrators, depositaries and distributors a manager needs are already in Dublin.187 providers, 9,310 funds.
✓
A regulator that prints its clock
The 2025 gatekeeping report gives 245 calendar days on average, a 128-day Key Facts Document stage and a 90%-within-six-months service standard met at 100%. Few peers publish any of that.245 days, in the Bank's own report.
✓
The 30-state passport
One S.I. 375/2017 authorisation notifies into every EEA state: one month for services, three for a branch under MiFID II arts 34(3) and 35(3). IIA firms get none of it.One month for services.
✓
12.5% on trading income
s.21 TCA 1997 taxes trading profits at 12.5%; the 15% Pillar Two floor under Part 4A reaches only large groups. Non-trading income pays 25%.15% only for large groups.
✓
An English-language statute book
S.I. 375/2017, S.I. 355/2021 and the Bank's July 2025 guidance note are written in the language of the file - no translation layer between founder, lawyer and supervisor.No translation layer.
✓
A narrow gate - by design
Nine MiFID applications in 2025, six approved, six withdrawn or closed, and only 101 investment firms on the register. The Bank does not run a volume machine, and that scarcity is part of what the licence is worth.Six approvals in 2025.
How it compares
How Ireland differs from other routes.
The honest comparison: the fund cluster and a published clock - against cheaper gates that move faster.
Ireland vs other jurisdictions
| Feature |  Ireland | Other jurisdictions |
|---|---|---|
| Regime | S.I. 375/2017 - Central Bank of Ireland | Cap. 370 Malta · Investment Services Law Cyprus |
| Capital | €75k / €150k / €750k - Reg. 8 S.I. 355/2021 | Same IFD art. 9 tiers across the EU |
| Passport | 30 EEA states · IIA firms none | EEA-wide; UK none post-Brexit |
| Timeline | 6 months statutory · 245 days average 2025 | Netherlands 13 weeks · Cyprus 8-14 months realistic |
Regime
IrelandS.I. 375/2017 - Central Bank of Ireland
Other jurisdictionsCap. 370 Malta · Investment Services Law Cyprus
Capital
Ireland€75k / €150k / €750k - Reg. 8 S.I. 355/2021
Other jurisdictionsSame IFD art. 9 tiers across the EU
Passport
Ireland30 EEA states · IIA firms none
Other jurisdictionsEEA-wide; UK none post-Brexit
Timeline
Ireland6 months statutory · 245 days average 2025
Other jurisdictionsNetherlands 13 weeks · Cyprus 8-14 months realistic
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Ireland | Authorised investment firm - CBI | 12.5% trading · 25% non-trading | IFD €75k-€750k, 245-day average 2025 |
 Malta | Investment services licence - MFSA | 35% · refund on distribution | IFD €75k-€750k, art. 6 six months |
 Cyprus | CySEC CIF | 12.5% · 15% large | IFD €75k-€750k, EU passport |
 Netherlands | Beleggingsonderneming - AFM | 19% to €200k · 25.8% above | Bpr art. 48 €75k-€750k, 13-week clock |
IrelandLicense typeAuthorised investment firm - CBI
Taxation12.5% trading · 25% non-trading
RequirementsIFD €75k-€750k, 245-day average 2025
MaltaLicense typeInvestment services licence - MFSA
Taxation35% · refund on distribution
RequirementsIFD €75k-€750k, art. 6 six months
CyprusLicense typeCySEC CIF
Taxation12.5% · 15% large
RequirementsIFD €75k-€750k, EU passport
NetherlandsLicense typeBeleggingsonderneming - AFM
Taxation19% to €200k · 25.8% above
RequirementsBpr art. 48 €75k-€750k, 13-week clock
Before you apply
Requirements for the Irish licence.Requirements for the licence.
The Bank reviews against its July 2025 authorisation guidance note, and the Reg. 10(1) clock starts only when the file is complete. The checklist below is what a passing application contains.
01
Irish company - incorporated under the Companies Act 2014 (Reg. 9(1) S.I. 375/2017) with its head office in the State under Reg. 7.
02
Initial capital - €75,000, €150,000 or €750,000 under Reg. 8 S.I. 355/2021 by service set, paid in and evidenced before authorisation.
03
Two directors and an INED - Reg. 17(8) requires at least two persons effectively directing the business; the Bank's guidance adds at least one independent non-executive director, two where scale demands it.
04
Mind and management in Ireland - board and committee decisions taken in the State, senior management present, and financial control, legal, compliance and risk located in the head office (guidance A5).
05
Fitness and Probity - every Pre-Approval Controlled Function cleared by the Bank under Part 3 of the Central Bank Reform Act 2010 before appointment, against the 2025 Standards.
06
Key Facts Document - the pre-application summary reviewed after the preliminary meeting; the stage averaged 128 calendar days in 2025.
07
Client Asset Management Plan - required under Reg. 72(1) of the Client Asset Requirements (S.I. 10/2023) wherever the firm holds client money or instruments, built on the seven CAR principles.
08
Prudential machinery - IFR own funds live from day one: the higher of the permanent minimum and a quarter of fixed overheads, plus the K-factor requirement for Class 2 firms.
09
Investor compensation - ICCL membership is a condition of authorisation under Reg. 9(8); the scheme pays 90% of net loss up to €20,000.
10
Control functions and outsourcing - compliance with an annual plan, risk management and internal audit (guidance F16), outsourcing under Delegated Regulation (EU) 2017/565 arts 31-32 and the Bank's cross-industry guidance.
01
Irish company, head office in the State.
02
Capital per Reg. 8 tier.
03
Two directors plus an INED.
04
Mind and management in Ireland.
05
PCFs cleared before appointment.
06
Key Facts Document first.
07
CAMP where assets are held.
08
IFR own funds live.
09
ICCL membership.
10
Control functions staffed.
Reflects S.I. 375/2017, S.I. 355/2021 and the Central Bank's July 2025 guidance as of 2026.S.I. 375/2017 + S.I. 355/2021, as of 2026.
How it works
From first call to the Central Bank's register.
01
Scope and tier
Annex I services fixed in writing, the tier chosen (€75k / €150k / €750k), MiFID firm or fund management company decided before any drafting.Fixed in writing.
02
Meeting and KFD
Preliminary meeting with the Bank, then the Key Facts Document - the stage that averaged 128 calendar days in 2025.128 days on average.
03
The application
The MiFID Investment Firm Authorisation Application Form, programme of operations, CAMP and PCF applications - complete at filing.Complete, first time.
04
Central Bank review
Reg. 10(1): six months from completeness, restarting on each question - 245 calendar days on the Bank's own 2025 average.245 days on average.
05
Authorisation and passport
Register entry, ICCL membership, EEA notifications, banking live - 30 markets open.30 markets open.
Quick facts
RegulatorCentral Bank of Ireland
LicenceAuthorised investment firm
Capital tiers€75k / €150k / €750k
AIFM · UCITS ManCo€125,000
Statutory clock6 months (Reg. 10(1))
CBI average 2025245 calendar days
Passport30 EEA states
Corporate tax12.5% trading · 15% large
The Bank met its 90%-within-six-months service standard at 100% in 2025 - the statutory clock only runs on a complete file, and completeness is our job.
On the ground in Ireland
Run from our Dublin office.
Prifinance - Ireland
Dublin · Ireland
Dublin, Ireland
01
Company and capital
Companies Act 2014 entity with its head office in the State (Reg. 7), capital paid to the Reg. 8 tier - built for the authorisation, not retrofitted to it.Built for the tier.
02
The KFD and the Bank's file
Preliminary meeting scripted, Key Facts Document drafted to the July 2025 guidance note, the formal application form complete at filing so the Reg. 10(1) clock actually starts.Complete at filing.
03
PCF bench
Directors, an INED and the heads of compliance, risk and internal audit cleared through Fitness and Probity before appointment - sourced from Dublin's regulated-firm bench.Cleared before appointment.
04
Passporting and launch
ICCL membership, the CAMP where client assets are held, EEA notifications at one month for services and three for a branch, banking live.30 states at launch.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in Ireland.
A 12.5% trading rate, a 25% rate on passive income, and a Pillar Two floor that stops at the large groups.
Corporate tax 12.5% trading
s.21 TCA 1997 taxes trading income at 12.5%. Non-trading income - passive returns on the firm's own book - pays 25% under s.21A.25% non-trading.
Pillar Two 15%
Part 4A TCA 1997 (IIR, UTPR and the domestic top-up tax) lifts large groups to a 15% minimum effective rate. A standalone firm below the thresholds stays at 12.5%.15% large groups only.
Dividend withholding 25%
DWT applies to distributions at 25%; exemptions and treaty relief are modelled per shareholder before the structure is fixed.Relief per shareholder.
VAT 23%, securities exempt
Dealing in stocks, shares, debentures and other securities is exempt under para 6(1)(a) Sch. 1 VATCA 2010 - the 23% rate reaches overheads, not the mandate.Securities exempt.
The industry funding levy
The Bank's 2025 levy for investment firms runs from €28,093 at low impact to €2,211,012 at high, plus a client-asset supplement from €6,639.From €28,093.
ICCL contributions
Member-firm levies fund the compensation scheme that pays 90% of net loss up to €20,000 - a cost line in every year's budget, not just the first.90% up to €20,000.
Tax summary
Corporate tax12.5% · 25% non-trading
Pillar Two15% large groups
Dividend withholding25%
VAT23% · securities exempt
CBI levy 2025From €28,093
*Figures as of 2026 per Irish law. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Irish company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
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Ireland · CBI
Launch your investment firm in Ireland with expert support.
Full-service assistance - from incorporation and the Key Facts Document to the Central Bank authorisation, PCF approvals, passporting and ongoing compliance - run through our Dublin office.
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Request a free conclusion →FAQ
The Irish investment licence, answered.
Which licence does an investment firm need in Ireland?+
Authorisation as an investment firm under Reg. 5(1) of S.I. 375/2017 - the MiFID II licence for reception and transmission, execution, portfolio management, advice, underwriting and dealing, with custody as an ancillary service. Fund managers are authorised separately as AIFMs or UCITS management companies.
What capital does the Central Bank require?+
Reg. 8 of S.I. 355/2021 sets €75,000 for firms that never hold client money, €150,000 as the general tier and €750,000 for dealing on own account or firm-commitment underwriting. An AIFM or UCITS management company starts at €125,000 plus 0.02% of assets over €250 million.
How long does authorisation take?+
Six months from a complete application under Reg. 10(1), restarting on each information request. The Bank's own 2025 figure is 245 calendar days on average, and the Key Facts Document stage by itself averaged 128 days - plan on the Bank's numbers, not the statute's.
What is the Key Facts Document?+
The pre-application summary the Bank reviews after the preliminary meeting and before the formal MiFID application form is filed - business model, services, people and capital in short form. It is where most delay lives: 128 calendar days on average in 2025.
Who has to be approved individually?+
Every Pre-Approval Controlled Function under Part 3 of the Central Bank Reform Act 2010 - directors, the INED and the heads of compliance, risk and internal audit - cleared against the Fitness and Probity Standards 2025 before appointment. Reg. 17(8) requires at least two persons directing the business.
Does the licence passport across the EEA?+
Yes - the full MiFID passport into 30 EEA states, one month for services and three months for a branch under MiFID II arts 34(3) and 35(3). Firms under the Investment Intermediaries Act 1995 cannot passport at all.
What is the Investment Intermediaries Act route?+
The lighter authorisation under s.10 of the IIA 1995 for an investment business firm: a limited range of services, no EEA passport, and a separate track from the 101 MiFID investment firms - the Bank counted 2,450 retail intermediaries at end-2025.
How are Irish investment firms taxed?+
12.5% corporation tax on trading income under s.21 TCA 1997, 25% on non-trading income, a 15% minimum for large groups inside Pillar Two, 25% dividend withholding tax and 23% VAT with dealing in securities exempt.
Ireland or Cyprus for a new firm?+
Cyprus is the volume gate: 8-14 months on a practised rhythm, the union's deepest service cluster for regulated firms, 12.5% headline. Ireland has the same trading rate, the fund industry next door and a regulator that prints its statistics - and only six approvals in 2025. Brokerages lean Limassol; fund-linked managers lean Dublin.
Why Prifinance for Ireland?+
A Dublin office with our London office an hour away, the Key Facts Document and formal file drafted to the Bank's July 2025 guidance note, and the PCF bench sourced and cleared before filing. ICCL membership, the CAMP and the EEA notifications run as part of launch.
Which licence?+
S.I. 375/2017 investment firm.
Capital?+
€75k/€150k/€750k · €125k funds.
How long?+
245 days on average.
The KFD?+
Pre-application summary, 128 days.
Approvals?+
PCFs, individually.
Passport?+
30 EEA states.
IIA route?+
Limited services, no passport.
Taxes?+
12.5% trading, 25% DWT.
Or Cyprus?+
Volume gate vs fund hub.
Why you?+
Dublin office, KFD scripted.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Central Bank of Ireland or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.