A depository of an  undertaking  for  collective  investment  in  transferable securities (UCITS) must either have its registered office in the same EU country as that of the undertaking or be established in  the  EU  country  if  its  registered  office  is  in  another  EU 
country (Directive 85/611/EEC). Authorisations for Alternative Investment Fund Managers are granted to legal persons who have their head office and registered office in Ireland (Directive 2011/61/EU).
"3. (1) In these Regulations— [...]
“trustee”, in relation to a UCITS, means an institution referred to as a depositary in the Directive;
[...]
35. 
(1) A trustee shall have its registered office in the State or have established a place of business in the State if its registered office is in another Member State. [...]" (European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352/2011), last amended by Act No. 32 of 2021 and S.I. No. 415 of 2021, Regulations 3 and 35)
-----------------------
"5. (1) In these Regulations—
“alternative investment fund” or “AIF” means a collective investment undertaking, including investment compartments thereof, which—
(a) raises capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of those investors, and
(b) does not require authorisation under Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS):
“alternative investment fund manager” or “AIFM” means a legal person whose regular business is managing one or more than one AIF;
[...]
8. (1) An AIFM shall apply to the Bank for an authorisation under these Regulations.
[...]
9. (1) (a) The Bank shall not grant an authorisation unless—
(i) it is satisfied that the AIFM will be able to meet the conditions of these Regulations;
(ii) the AIFM has sufficient initial capital and own funds in accordance with Regulation 10;
(iii) the persons who effectively conduct the business of the AIFM are of sufficiently good repute and are sufficiently experienced also in relation to the investment strategies pursued by each AIF managed by the AIFM, the names of those persons and of every person succeeding them in office being communicated forthwith to the Bank and the conduct of the business of the AIFM being decided by at least two persons meeting suchconditions;
(iv) the shareholders or members of the AIFM who have qualifying holdings are suitable taking into account the need to ensure the sound and prudent management of the AIFM; and
(v) the head office and the registered office of the AIFM are located in the State. [...]" (European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257/2013), last amended by Act No. 32 of 2021 and S.I. No. 415 of 2021, Regulations 5, 8 and 9)
European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352/2011), last amended by Act No. 32 of 2021 and S.I. No. 415 of 2021, Regulations 3 and 35
Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), Article 23
European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257/2013), last amended by Act No. 32 of 2021 and S.I. No. 415 of 2021, Regulations 5, 8 and 9
Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010
[<a href="http://www.irishstatutebook.ie/eli/2011/si/352/made/en/print">Reg</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A32009L0065">Directive</a>],[<a href="http://www.irishstatutebook.ie/eli/2013/si/257/made/en/print?q=Alternative+Investment+Fund+Managers&=&=#">Reg</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02011L0061-20190113">Directive</a>]