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Ask Buachaill Your Own Question
Buachaill
Buachaill, Lawyer
Category: Republic of Ireland Law
Satisfied Customers: 10497
Experience:  Barrister 17 years experience
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I live in USA and would like to buy irish property. Can I

Customer Question

I live in USA and would like to buy irish property. Can I put the irish property in a trust in the usa or do I need to have an irish trust?
Can I purchase real estate as a usa citizen or must I become an Irish citizen with dual usa citizenship to purchase the property?
I believe it will be beneficial for my heirs to have some Irish property to
care for and to visit and to think about. My father left Ireland as a young boy under some stress from the conflicts there. They eventually sold the family property in the 1940's or 50's. I have visited their ancient family property with my remaining Irish relatives and admire the way of life and the beauty of the country and the Faith of the people. I am retired and could afford to purchase a small property cash. I would like to put such an asset into a trust that would generate a modest income for my heirs and could eventually be devolved to a charitable institution when the last beneficial heir passes away.
Is this feasible? or fanta
Submitted: 1 year ago.
Category: Republic of Ireland Law
Expert:  Buachaill replied 1 year ago.

1. Firstly, as the son of an Irish man you can apply for Irish citizenship for yourself. Go to www.inis.gov.ie, the website of the Irish Naturalisation& Immigration Service and you will find details on how to apply as the son of an Irishman. Secondly, the only difference in owning property personally as an Irish citizen as compared with owning it as a US citizen is that the consent of the Minister for Finance under section 45 of the Land Act is needed if you are a non-EU citizen such as a US citizen. So property ownership is much easier in your own personal name if you take out irish citizenship, to which you are entitled.

2. Thirdly, it is much easier to hold property in Ireland if it is held by an Irish constituted trust as opposed to a US trust or a trust from another Non EU jurisdiction. This is again because the consents of both the Minister for Finance under section 45 and the Commissioner for Charitable Donations & Bequests (now Charity commissioners) if you are a non EU trust if you wish to hold Irish property within that trust. You should also realise that owing to recent legislative developments, the concept of charity is very widely drawn in Ireland. Most schemes with a charitable element qualify for tax relief. However, I would advise you to think out what you want to achieve with the trust or personal ownership before electing which option to take.