In a radical change to Irish and EU company law, it is now possible for all Irish limited liability companies to migrate to other European Economic Area (EEA) countries while retaining their legal personality, and also to be divided into two or more companies across different EEA countries.
The European Union (Cross-Border Conversions, Mergers and Divisions) Regulations 2023 (the Mobility Regulations) were signed into law on 24 May 2023 by Minister for Enterprise, Trade and Employment, Simon Coveney, and, for the most part, take effect from that date (with a small number of provisions taking effect on 26 May 2023).
The Regulations update the existing laws and processes in Ireland relating to cross-border mergers and introduce the concepts of cross-border conversions and cross-border divisions into Irish law for the first time.
In this briefing, we take you through the high-level features of the new Regulations and the greatly expanded opportunities for Irish companies to structure migrations, separations, consolidations and re-organisations across the EEA.
