One Direction corporate structure moves to Ireland
Published 25/08/2013 | 05:00
HARRY Styles and some of the other members of the screamtastic boy band One Direction are using Ireland as part of the new corporate structure to manage their earnings.
Last month, Styles, Liam Payne, Louis Tomlinson and Zayn Malik set up the ODOT limited partnership, using the same Limerick offices as Alan McEvoy's Live Wire Business Management Group.
Mullingar's own One Direction star Niall Horan is not listed as a director of this new limited partnership, which will no doubt cause Directioners to question his future. One Direction's advisers did not comment.
Last week One Direction continued their trajectory towards becoming the world's first billion-dollar boyband with the release of their This is US movie.
Ireland's tax regime has helped attract a number of global music stars to set up corporate structures here.
Rapper Dr Dre's Beat Electronics set up three companies in Cork last year. Cheryl Cole, Olly Murs and JLS have also set up Irish subsidiaries to handle their wealth.