International Deposit Accounts

Eazos

Registered User
Messages
34
Hi,

I am currently living abroad without the intention to return to ireland in the short to medium term. Im interested in opening up an international deposit account in euros so as to avoid paying DIRT. Can anyone recommend a bank offering such a service with decent rates?

Thanks,

Eoghan
 
How long do you intend remaining in Ireland ? If you become Tax Resident AFAIK, your deposits will be liable to DIRT. Having deposits in another country, will leave you being taxed at the higher tax rate, whether you remit or not. However, best to check with an accountant to clarify.
 
Hi Mercman,

I am irish but living abroad as an expat and receiving tax free income monthly which I would like to put on deposit for approximately 1-2 years (I don't need to make withdrawals during this period). I was wondering if anyone knows of deposit accounts for people in my position.

Thanks
Eoghan
 
Your local bank or banks will be happy to advise. If your employer is paying you by electronic transfer that might be a good place to start. Your liability to DIRT or Irish tax will depend on establishing your tax residency.

Slim
 
Hi Eoghan,
it depends on where you are in Europe, and how they deal with taxing deposits. Some EU countries allow you to earn some interest on deposits tax-free, however, you need to be resident to avail of that incentive.
Regards,
Fanny
 
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