Ireland's government confirmed on Monday that cryptocurrency assets will be excluded from a new tax-advantaged Investment Account set to open to all adults in 2027.
The account will be available to Irish tax-resident persons aged 18 and over with a personal public service number (PPSN). There is no minimum contribution requirement or lock-in period, though an annual contribution limit will apply.
Eligible investments include listed shares, listed bonds, instruments traded on regulated markets, and retail investment funds including exchange-traded funds (ETFs). The government cited exclusions for "highly complex and risky products, including derivatives and crypto assets."
Interest-bearing cash has also been excluded from the account. Money below a designated tax-free threshold will be exempt from tax, while amounts above the threshold will face a small flat annual rate applied to the account's value. Exact thresholds, rates, and contribution caps will be announced on Budget Day, October 6.
Participating providers will calculate, report, and pay any tax due on behalf of account holders. The government intends for accounts to be portable between providers on a tax-neutral basis.
Broader investment context
The account is part of a broader effort to increase retail investment participation. Research by Ireland's Central Bank showed that just 2.3% of Irish households' financial assets are in direct investments such as listed shares and bonds, compared to an EU average of almost 7.5%. Irish households hold 38% of financial assets in cash and deposits versus an EU average of 30%.
The new account will exclude Ireland's "deemed disposal" rule, which currently treats some funds as if they were sold every eight years at a 38% tax rate, triggering tax liability even when no transactions occur. The government has indicated plans for a broader review of this rule.
