Investment regulation - Ireland
Holding restrictions
Foreign Investment Regulation
There is no specific law covering restrictions on foreign investment in Irish companies but it is for each company to determine their own rules and requirements relating to Foreign Ownership restrictions, which is covered within the Articles of Association of the company. Limitations on the ownership of a security type by a foreign investor are set by individual companies.
Foreign Ownership Limit: The inclusion of a limit on non-UK or non-EU shareholders is unusual, although possible. Historically, some companies involved in industries of national importance (airlines, etc.) had limits on the percentage of foreign interest, but since 2003, this has generally been relaxed. Where companies do operate such a scheme, upon acquisition of such securities, and at the point of registration, details of the nationality of the beneficiary are lodged with the registrar, either in paper form or electronically. This is done via a nationality declaration.
Example: Issuing company requirements for Ryanair plc
As of 7 March 2025, both EU and non-EU nationals can purchase Ryanair Holdings plc ordinary shares.
The nationality of shareholders is monitored by the registrar and advised to the company.
The voting restrictions will continue to apply, meaning non-EU shareholders are not permitted to attend, speak, or vote at shareholders’ meetings.
Ryanair Holding plc can reintroduce the acquisition restriction at an appropriate time to ensure that the proportion of the company’s issued share capital held by EU nationals is at least 20%.
Disclosure requirements
For details of the local domestic disclosure requirements, please refer to the Disclosure Requirements.