Offshore account for moving abroad?

I

ichyfeet

Guest
Hi

My wife and I are leaving Ireland in 4 months. We currently have a large lump sum on deposit in Rabodirect.

As we'll be traveling for a year and have no destination planned (it won't be Ireland) we'd like to open an offshore account while still resident in Ireland.

Our questions are:

Which bank would be best?
What are the tax implications of being non-dominciled?
Will we pay DIRT?

Thanks for your time.
 
What currency?

You need to declare your deposit interest to the revenue and pay tax. You will get in big trouble if you don't do this !!
 
Hi CiaranT

It would be euros.

So you still need to pay tax even when you're not resident?

Thanks
 
It depends on where you are 'ordinarily resident'. It seems that you will be 'ordinarily resident in Ireland' and have no fixed location for the year, so yes you need to pay tax.
 
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