Managing your money when you return to Ireland

This page aims to help you organise your finances when you return to Ireland. It has information on opening a bank account, taxes, insurance, social welfare, borrowing money, the cost of living in Ireland, social welfare, and social insurance.

To open a bank account in Ireland, you need to show evidence of your identity and verify your address. Read about the documents you can use to do this.

Once you have opened a bank account in Ireland, you can transfer money to other bank accounts, if you need to. You can also transfer money using a private financial services company. Before using their services, check if they are registered with the Central Bank of Ireland.

If you already have a bank account, but your circumstances have changed, or you want a better deal, you may want to switch your bank account to another provider.

Your tax residence and domicile are taken into account for a number of taxes in Ireland.

If you are resident and domiciled in Ireland for tax purposes, you must pay tax in Ireland on all of your income, including income from abroad.

Your tax residence depends on the amount of days you spend in Ireland in a tax year. Staying in Ireland for 183 days or more in the tax year automatically makes you a tax resident of Ireland.

If you return to Ireland and plan on staying permanently, Ireland is your domicile (home) for tax purposes. Some taxes you may have to pay in Ireland include:

• Income tax
• Deposit Interest Retention Tax (DIRT)
• Gift tax
• Inheritance tax
• Capital Gains Tax

However, if your income is taxable in Ireland and a country Ireland has a double taxation agreement with, you do not pay tax in both countries on the same income.

Learn more with Revenue's information on tax residence.

You may also qualify for income tax credits and tax reliefs, which reduce the amount of tax you pay.

Your taxes the year you return to Ireland

If you are going to be resident in Ireland for the next calendar year, you can ask for a split-year treatment for the year you arrive.

Split-year treatment means you are treated as resident in Ireland from the date you arrive. This means all your employment income from that date is taxed in Ireland the normal way. Any employment income earned outside Ireland before this date is not taxed in Ireland. Split-year treatment only applies to your income from employment.

If you apply for split-year relief, you can claim the full year’s tax allowances, credits, and rate bands in the same way as an Irish resident, even though you are only liable for Irish tax from the date you become resident in Ireland.

You can apply for split-year treatment:

• Through MyEnquiries in myAccount on the Revenue website
• By writing to your local Revenue office

You cannot get split-year treatment, if you have lived abroad for less than a complete tax year before coming back to Ireland.

If you have savings from income earned abroad when you were not tax resident in Ireland, you can transfer these savings to Ireland without having to pay Irish tax.

If you were tax resident in Ireland when you earned your foreign income, you may have to pay tax if you transfer these savings to Ireland.

Irish domicile levy

You may have to pay a domicile levy, if:

• You intend to live in Ireland permanently
• Your worldwide income in the year exceeds €1m
• You have Irish property with a value greater than €5m
• Your Irish income tax for the year is less than €200,000

Before returning, check if there are benefits in your current country of residence, which you can transfer to Ireland when you move.

You may be able to combine your insurance records from Ireland and another country to qualify for a pension or social insurance payment in Ireland.

Can I transfer my pension to Ireland?

EU countries

If you have worked in Ireland and in one or more EU countries, your social insurance contributions from each EU country may be added to your Irish social insurance contributions to help you qualify for the Irish State pension.

Bilateral agreements

If you have returned from a country which Ireland has a bilateral social security agreement with, your pension rights from the other country are protected when you move to Ireland. It is possible to have a State pension from Ireland and another country.

What if I have a pension from the United Kingdom (UK)?

You can transfer your UK State pension to Ireland if you have paid enough UK National Insurance contributions. You can check your UK National Insurance record online.

UK pension deadline

If you have worked in the UK and have gaps in your National Insurance record, you can pay voluntary contributions to help you qualify for the UK State pension.

If you qualify, you have until 5 April 2025 to pay voluntary contributions to make up for gaps you have between tax years April 2006 and April 2016.

After 5 April 2025, you will only be able to pay contributions to cover the previous 6 years. This may not be enough contributions to qualify for a new State pension, if you have fewer than 4 qualifying years on your National Insurance record. You usually need at least 10 qualifying years in total.

What about private pensions?

If you return to Ireland and want to transfer your private pension to Ireland from abroad, you can transfer it to an approved occupational pension scheme, Personal Retirement Savings Account (PRSA), or Buy-out bond (BOB).

Your foreign pension must meet certain criteria to qualify. You should contact the pension administrator in the country where you have pension savings.

Insurance can help you to protect your personal property and your health against unexpected costs. The Competition and Consumer Protection Commission (CCPC) explain how different types of insurance work.

You should shop around before choosing an insurance provider. The Health Insurance Authority has an online comparison tool to compare private health insurance in Ireland.

Learn more about buying private health insurance when you return to Ireland.

Car insurance

If you plan on driving in Ireland, you will need motor insurance. If you have been abroad for less than 2 years and had an motor insurance policy before you left Ireland, your no claims discount will still apply.

Motor insurance companies may take your driving history from another country into consideration. Read more about getting motor insurance when you return to Ireland.

When you return home, you may need to borrow money. Before you do, make sure you are dealing with a lender that is authorised by the Central Bank.

If you plan on buying a home in Ireland, read about taking out a mortgage and all the steps involved.

If you are applying for a loan or mortgage, the lender will take your credit history into consideration.. Make sure you bring all your relevant financial documents from abroad home with you to Ireland.

Cost of living in Ireland

You may find that the cost of living in Ireland has increased since you were here before. It can be useful to compare the cost of living in Ireland with the country you are coming from to help organise your finances for when you return. Read about the supports available to help you with the cost of living in Ireland.

If you need financial support when you return to Ireland, you can apply for a social welfare payment. You need to be habitually resident in Ireland to qualify for some social welfare payments. You may also need to satisfy a means test.

If you have children, you may be able to get Child Benefit.