{{ languageVal }}
  • English
  • French (Canada)
 

Industry Updates

ICAV Goes Live in Ireland

16 Mar 2015

Maples and Calder ("Maples") is pleased to announce that the Irish Collective Asset-management Vehicle Act, 2015 ("ICAV Act") is now fully in force and we have advised on the first major registration.

The ICAV Act commenced on 12 March 2015 and allows the incorporation of a new, tax efficient and innovative corporate structure, specifically for Irish investment funds. Available to both new and existing UCITS and AIFs structures, the ICAV offers numerous benefits over existing Irish corporate fund structures. Please visit our ICAV webpage for further details of key features. 

The Central Bank of Ireland ("CBI") opened its ICAV register on 16 March 2015 and Maples has advised the Permal Group on first day registration. The Permal Managed Account Platform ICAV ("PMAPL ICAV") will complement the Permal Group's existing BVI managed account fund range and will see up to US$4billion of assets being transferred to the PMAP ICAV. Maples is further advising a number of international managers and institutions who will also register within the first days of the register being opened.

The registration of the ICAV follows a series of notable firsts for Maples' Dublin office, including advising on: (i) the establishment of the first investment limited partnership for private equity; (ii) authorisation of the first cross-border AIFM in Ireland; (iii) the first Irish UCITS authorised by the CBI to invest 100% in China A Shares under China's RQFII Scheme; and (iv) the first loan origination QIAIF.

For further information on the new Irish regime, or on the ICAV impact for Ireland, the Cayman Islands and British Virgin Islands, please speak with your usual Maples and Calder contact.

Related Services

Legal Services

Access to market leading legal advice across a wide range of industries and sectors is paramount to the success of businesses seeking international expertise with local support. The Maples Group's legal services teams are globally coordinated, with consistent systems, policies and procedures across all offices, and connected by a common goal: to deliver the highest quality advice and solutions to our clients. Offering an extensive range of legal services, we advise financial, institutional, business and private clients on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg, delivering time zone convenience and accessibility from these and other leading key international financial centres. Through constructive dialogue and engagement with governments, regulators and industry associations, we have helped shape financial industry innovation and regulation in many of the jurisdictions in which we operate.

Funds & Investment Management

Advising on the laws of the BVI, the Cayman Islands, Ireland, Jersey and Luxembourg, our global Funds & Investment Management team provides expert legal advice on every aspect of the life cycle of an investment fund including set up, management and investment across a broad range of fund structures and management entities.  

Tax

Our market leading Tax team is at the forefront of innovation in developing new structures and strategies for international and Irish clients on cross-border tax matters.