IMPORTANT INFORMATION
Irish Funds – Residency Requirements

Please note the following important information in relation to all Irish registered funds available through the Alliance Trust Savings Fund Supermarket:

YOU CANNOT HOLD (OR CONTINUE TO HOLD) SHARES IN ANY IRISH-DOMICILED FUNDS THROUGH ALLIANCE TRUST SAVINGS IF YOU ARE RESIDENT (OR ORDINARILY RESIDENT) IN THE REPUBLIC OF IRELAND (EIRE).


Background

The tax treatment of Irish-domiciled funds in Ireland depends on where the underlying investor is resident. Each investor is required to make a declaration as to their residency status when shares in the Irish funds are purchased and to notify the fund manager if their residency status changes.

Alliance Trust Savings is only able to purchase shares in Irish funds on the basis that it is not (and is not acting on behalf of anyone who is) Irish resident. Therefore, Alliance Trust Savings customers are only eligible to purchase shares in Irish funds through Alliance Trust Savings if they are, and remain, resident and ordinarily resident (under the definition set out below) outside the Republic of Ireland.


Definition of Irish residence / ordinary residence:

The following summary of the concepts of residence and ordinary residence under Irish tax law has been issued by the Irish Revenue Commissioners:


Residence – individual
The Irish tax year operates on the calendar year basis. The normal rule is an individual will be regarded as being resident in Ireland for a tax year if that individual:

i) spends 183 days or more in Ireland in that tax year; or

ii) has a combined presence of 280 days in Ireland, taking into account the number of days in Ireland in that tax year together with the number if days spent in Ireland in the preceding year.