Ministers in Ireland have today signed the European Union Regulations 2015 into effect to establish European long-term investment funds in Ireland.

By signing the regulations, Ireland’s Minister for Finance Michael Noonan has confirmed application forms are now available from the Central Bank of Ireland and it is ready to accept ELTIF applications.

Commenting on ELTIFs Irish Funds chief executive Pat Lardner said ELTIFs represent a “key component” of the European Commission’s initiative on Capital Markets Union (CMU) and aim to promote cross-border long-term investment in projects such as infrastructure, sustainable energy and new technologies.

“As a leading centre for cross-border Alternative Investment Funds (AIFs), Ireland is well-positioned as a location to domicile, manage and service ELTIFs.

Ireland already has significant experience in the long-term investment space with a range of infrastructure, green and real asset investment funds established here,” he said.

In October, Irish Funds responded to the ESMA consultation on regulatory technical standards for ELTIFs and will propose enhancements to the ELTIF framework in its submission to the European Commission call for evidence on the EU Regulatory Framework for Financial Services.

Regulation (EU) 2015/760 on European long-term investment funds took effect on 9 December 2015.

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