Due to recent global political shifts, interest in retiring to Ireland has grown, prompting prospective retirees to consider several important legal and financial factors. Understanding the distinction between *domicile*—a long-term legal status—and *residency*—based on days spent in the country—is key, as both influence taxation. Visa requirements may include proof of financial self-sufficiency, usually verified through certified financial documentation. Selling property abroad before becoming Irish tax-resident may offer tax advantages, especially for non-domiciled individuals who benefit from the remittance basis of taxation. Additional concerns include potential capital gains from currency exchange, taxation of investment income and foreign pensions, and the implications of purchasing property in Ireland. Legal and tax advice is strongly recommended throughout this process to ensure compliance and optimal financial planning.
Originally Published by Crowe Ireland, on 10 April 2025
Originally Published by Crowe Ireland, on 10 April 2025
