Insight

Real Estate & Conveyancing

07/07/2020
Real Estate & Conveyancing

So…. A few points on real estate and doing business in Ireland –

  • Ireland is a member of the European Union and the only country in the EU whose first language is English. It has a sophisticated, well educated workforce and State structures which are transparent and fair.
  • Ireland is a common law country – like countries such as England, the United States and Australia. Irish property law is essentially based on Irish legislation and common law.
  • There are no legal restrictions on the ownership of real estate in Ireland so property can belong to resident or non-resident parties.
  • There are also no restrictions on the transfer of ownership of property from one person to another.
  • Irish property can be held under freehold title which confers absolute ownership and has the potential to last forever or leasehold title which confers ownership for a period of years granted by a lease.
  • The Irish State’s Property Registration Authority controls the systems for recording real estate transactions in Ireland. These systems can be accessed online.
  • In order to purchase a property in Ireland, you must engage a solicitor who is qualified with the Law Society of Ireland.
  • Typically we would allow approximately 4-8 weeks to complete an acquisition of a property in Ireland.
  • In summary, Ireland has a sophisticated, well educated workforce. There are fair and transparent systems in place which make it a great place to buy real estate and to do business.