Recent legislation was passed in Ireland enabling non-Irish fund companies to redomicile into Ireland on the basis that the migrating fund company will continue its existence as a company registered under Irish law. Fund companies will only be permitted to redomicile to Ireland if the laws of their jurisdiction of domicile permit both outward redomiciliation (and de-registration) and inward redomiciliation of the fund companies and if those jurisdictions have been prescribed by the Minster for Enterprise, Trade and Innovation as ‘relevant jurisdictions’.

On 7 September 2010, the Minister prescribed specific countries from which fund companies domiciled in those countries can redomicile to Ireland as follows: British Virgin Islands, the Cayman Islands, Jersey, Guernsey, Bermuda and the Isle of Man. Other countries and jurisdictions may be prescribed in due course.