Ireland is one of the leading EU countries in fintech and digital. It is not surprising that the crypto business is also developing here. Coinbase recently received a license here.
Ireland is one of the leading EU countries in fintech and digital. It is not surprising that the crypto business is also developing here. Coinbase recently received a license here.
Ireland has a Minor danger security level according to our rating. Jurisdiction has 53.9 points (from 100) for safety level in Numbeo crime rating (1). The homicide level (2) is 0.4 per 100,000 inhabitants a year. Story of firearm-related death (3) 0.87 per 100,000 inhabitants a year.
Cryptocurrencies are not (4) legal tender and are neither guaranteed nor regulated by the Central Bank of Ireland (“CBI”).
We need a link to a legal document allowing crypto salaries in Ireland. However, it's likely possible.
The Central Bank of Ireland (CBI) is the primary crypto regulator. Although there is no separate crypto framework, the CBI regulates the industry by issuing bylaws.
According to CBI's official website (5), The 2021 Act extends the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021 ("CJA 2010 to 2021") to VASPs. You can find more information in the official CBI VASP Registration guide (6)
Moreover, based on the CBI report (7), before MiCA came into force, crypto-assets had no regulatory framework in Ireland.
Based on Field Fisher's overview (8), it's legally possible to provide crypto investment activity in Ireland by launching the following types of legal entities:
-Undertakings for the Collective Investment in Transferable Securities (“UCITS”)
-Alternative Investment Funds (“AIFs”)
Token offerings are also legal, although there are still no cases.
Based on Funds Europe (9), the first AIFs got approval in 2022 to “obtain indirect exposure to bitcoin by acquiring cash-settled bitcoin futures listed on the Chicago Mercantile Exchange.”
Tax name | Index |
PIT tax Min | 20 |
PIT tax Max | 40 |
Corporate tax (CIT) | 25 |
Min Individual CGT (for crypto) | 33 |
Max Individual CGT (for crypto) | 33 |
Wealth tax Min | 0 |
Wealth tax Max | 0 |
For transactions subject to Income Tax, you'll pay(10) Income Tax at either 20% or 40% depending on which Income Tax band you fall into.
Corporation tax is chargeable(11) as follows on income and capital gains: Standard rate on income('trading rate') is 12,5%, Higher rate on income('passive rate') is 25%.
For transactions subject to Capital Gains Tax, there is (12) a flat rate of 33%.
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