Thinking about launching a FinTech company in Ireland? This comprehensive guide is written for entrepreneurs and innovators looking to enter Ireland's FinTech ecosystem.
If you're ready to take the next step and have at least one EEA resident director in your team, you can visit our guide on how to set up your Irish company here.
No EEA-resident team member? Visit our non-EEA resident section here.
Key Takeaways:
Ireland's FinTech sector experienced remarkable 291% growth in 2024, with investment reaching $237.95 million across 25 deals
The payments sector remains the strongest area globally, attracting $31 billion in investment in 2024
Ireland hosts over 400 international financial firms and more than 200 Irish-born FinTech companies
The corporate structure requires at least one EEA-resident director, but regulatory licensing adds another crucial compliance layer
What licences might my FinTech company need in Ireland?
This depends entirely on your business model. Payment processing requires Payment Institution or E-Money Institution licences, crypto services need CASP authorisation under MiCAR, and investment services require Investment Firm authorisation. The Central Bank of Ireland website provides detailed guidance for each licence type.
How long does it take to get regulatory approval for FinTech services?
Regulatory approval timelines vary significantly by licence type. Payment Institution licences typically take 3-6 months, while more complex authorisations can take 6-12 months. It's advisable to begin the regulatory process early and potentially operate under existing frameworks initially.
Can I start operating while waiting for regulatory approval?
In many cases, yes, but this requires careful planning. Some services can operate under existing authorised institutions through agency or outsourcing arrangements, while others may qualify for temporary or transitional permissions. Legal advice is essential to ensure compliance.
What ongoing obligations will my FinTech company have?
Beyond standard corporate obligations like annual returns, FinTech companies face additional regulatory requirements including prudential reporting, conduct of business compliance, customer due diligence procedures, and regular supervisory returns to the Central Bank.
How much capital do I need to start a FinTech company in Ireland?
Capital requirements vary dramatically by licence type. While there's no minimum capital for the corporate structure itself, regulatory licences often require specific capital amounts – from €20,000 for certain payment services to €730,000 for investment firms. Professional advice is essential for accurate planning.
