Ireland’s new state savings scheme excludes crypto

Ireland’s 2027 state savings scheme will offer tax perks for stocks and bonds, but will exclude crypto and derivatives, citing risk and complexity.

Ireland is set to launch a new state-backed savings and investment scheme in 2027, offering tax-advantaged accounts to all tax residents aged 18 and above. The initiative aims to encourage households to move funds from low-yield bank deposits—currently totaling around $197 billion—into traditional capital markets. Eligible investments will include listed equities, bonds, mutual funds, exchange-traded funds (ETFs), and insurance products. However, crypto assets, derivatives, and interest-bearing cash are specifically excluded, with officials citing the complexity and risk associated with cryptocurrencies. The accounts will feature a tax-free threshold, after which a low flat annual tax rate will apply, replacing higher capital gains and fund exit taxes. There will be no minimum contribution or lock-up period, but an annual contribution cap will be enforced. Details on the tax-free allowance and rate will be announced in the October 2027 Budget. This policy follows European Commission recommendations to exclude crypto and complex derivatives from such schemes.