Kilrock Securitisation Services, led by Brian Tyrrell, provides a range of services across a number of distinct disciplines.  The company administers listed securities and provides advice on relocation and restructuring to a number of international clients.

Based in Dublin, Kilrock Capital is at the center of international financial services, the city’s International Financial Services Centre (IFSC) is host to the offices of over 450 financial institutions, representing more than half of the world’s largest banks and insurance companies, and employing over 22,000people. The IFSC is now considered a center of excellence in fund administration.

Kilrock’s location straddles US, European and Asian time zones enabling it to do business within normal working hours across multiple time zones. Furthermore as the only English speaking capital in the Eurozone it offers particular attractions to international institutions.

The tax incentives available to Section 110 entities are very attractive.

Over the years, Ireland has developed a robust infrastructure to support securitisation activities under the Section 110 regime.

Ireland’s membership in the EU and OECD positions it as a reputable jurisdiction rather than an offshore location.

Section 110 companies typically benefit from Ireland’s extensive double taxation treaty network (74 countries are in effect with a further 2 agreed), which helps minimise potential withholding tax liabilities.

The Irish SPC may elect to “check-the-box” to be treated as a tax transparent partnership or a “disregarded entity” (rather than an opaque “per se corporation” for US federal tax purposes).

Ireland’s English-speaking environment and common law system are advantageous for investors, particularly those from the US and UK.

The Kilrock Section 110 service includes:

• incorporating the company in Ireland
• maintaining a registered office of the company in Ireland
• providing suitably qualified Irish resident directors appointed to the board
• opening an Irish Bank account
• maintaining the books and records of the company
• organising and holding quarterly board meetings in Ireland
• managing and filing the audit accounts with the CRO, including filing annual returns

Section 110 companies have specific Central Bank filing responsibilities.

• Each Section 110 Company is required to:
  • Complete the Central Bank online reporting set-up.
  • register with the Central Bank no later than five workings days after its first financial transaction.
  • to complete quarterly and annual SPV and FVC statistical returns. The Kilrock team  file these SPV and FVC returns quarterly within the required deadlines.

Kilrock ensures all regulatory reporting requirements from the Central Bank are prepared, reviewed and filed within the mandatory deadlines

Listing debt offers numerous benefits but also introduces initial and ongoing responsibilities. Kilrock offers comprehensive and continuous advice and services to ensure these responsibilities are managed effectively.

• Which Market
  • Choosing which market to list on, the GEM or MSN, is critical and will impact on time to listing, market access and investor profile.
• Service Providers have to provided and managed.
  • Trustees
  • Listing Agent
  • Sponsoring Broker
  • Paying Agent
• Companies with listed Asset Backed Securities listed on Euronext have specific filing responsibilities.

Kilrock ensures all regulatory reporting requirements from the exchnange are prepared, reviewed and filed within the mandatory deadlines

Kilrock Capital Securitisation Services is headed up by Brian Tyrrell BBS Fin, FCISI, CFA inst.

Brian has worked as a finance specialist for over 25 years, has been a director of several regulated investment firms and founded and subsequently sold on a substantial financial services company. Brian has significant experience in overseeing projects from inception to completion with a strong emphasis on financial control.

Brian is a qualified investment analyst, a Fellow of the Chartered Society For Securities and Investments and a member of the Chartered Financial Analyst Institute.