With an established financial sector, expats will find that banking and taxes in Ireland are similar to that of the UK and the USA. Regardless, no matter where you are, taxes can quickly become complicated, and even more so in unfamiliar surroundings. We therefore recommended that expats hire a tax expert.

The biggest banks in Ireland are traditionally Bank of Ireland, Allied Irish Banks, Danske Bank and Ulster Bank. There are also many multinational banks that have branches in Ireland – this can be useful for serial expats or those who already have an account with the same bank back home. 

Currency in Ireland

As part of the European Union, the official currency of Ireland is the Euro (EUR), which is divided into 100 cents.

  • Notes: 5 EUR, 10 EUR, 20 EUR, 50 EUR, 100 EUR, 200 EUR and 500 EUR 

  • Coins: 5 cents, 10 cents, 20 cents and 50 cents, and 1 EUR and 2 EUR 

Banking in Ireland

The major banks in Ireland offer a range of services as well as internet banking options, which are popular and easy to use.

Opening a bank account

It is easier to open a bank account in Ireland in person than trying to open one before arriving. To open an account, expats will need at least their passport and proof of address, but each bank will have their own requirements. The account can take some time to activate, so expats in Ireland should plan to keep money elsewhere while this processes. 

ATMs and credit cards

ATMs are widely available in Irish towns and cities, and it is possible to use a foreign card at most ATMs. Credit cards are widely accepted across the country, although card facilities and ATMs may be limited in more remote areas. 

Taxes in Ireland

Tax status in Ireland depends on an expat's residency status. Expats qualify for tax residency if they are in the country for 183 days or more in a tax year, or 280 days over two consecutive tax years.

Irish residents have to pay tax on income derived from both inside and outside Ireland, while non-residents pay tax only on their income within the country.

Everyone in Ireland has to pay a standard rate of 20 percent on their taxable income up to a certain amount, which depends on whether the person is single, married or a single parent. Everything earned above the cut-off point is taxed at 40 percent.

Ireland has tax treaties with most countries, but there are many legal loopholes and idiosyncrasies involved in this that are best worked out by a professional.

Expat Health Insurance

Cigna Health Insurance

Cigna Global Health Insurance.

Medical insurance specifically designed for expats. With Cigna, you won't have to rely on foreign public health care systems, which may not meet your needs. Cigna allows you to speak to a doctor on demand, for consultations or instant advice, wherever you are in the world. They also offer full cancer care across all levels of cover, and settle the cost of treatments directly with the provider.

Get a quote from Cigna Global - 20% off

Moving Internationally?

Sirelo logo

International Movers. Get Quotes. Compare Prices.

Sirelo has a network of more than 500 international removal companies that can move your furniture and possessions to your new home. By filling in a form, you’ll get up to 5 quotes from recommended movers. This service is free of charge and will help you select an international moving company that suits your needs and budget.

Get your free no-obligation quotes from select removal companies now!