The Central Bank of Ireland defines a Professional Client as one of the following:

• credit institutions;
• investment firms;
• other authorised or regulated financial institutions;
• insurance companies;
• collective investment schemes and management companies of such schemes;
• pension funds and management companies of such funds;
• commodity and commodity derivatives dealers;
• a local firm;
• another institutional investor (for the avoidance of doubt, which is authorized or regulated to operate in the financial markets);
• a national or regional government, a public body that manages public debt, a Central Bank, an international and supranational institution such as the World Bank, the International Monetary Fund, the European Central Bank, the European Investment Bank or another similar international organisation;
• another institutional investor whose main activity is to invest in financial instruments, including an entity dedicated to the securitisation of assets or other financing transactions;
• a large undertaking meeting two of the following size requirements on a company basis: (a) balance sheet total of EUR 20,000,000; (b) net turnover of EUR 40,000,000; (c) own funds of EUR 2,000,000.

In relation to business that is not MiFID or equivalent third country business a large undertaking meeting any of the following conditions:
 

• a body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) (or has had at any time during the previous two years) called up share capital or net assets of at least £5 million (or its equivalent in any other currency at the relevant time);
• an undertaking that meets (or any of whose holding companies or subsidiaries meets) two of the following tests: 
  • a balance sheet total of EUR 12,500,000;
  • a net turnover of EUR 25,000,000;
  • an average number of employees during the year of 250;
• a partnership or unincorporated association which has (or has had at any time during the previous two years) net assets of at least £5 million (or its equivalent in any other currency at the relevant time) and calculated in the case of a limited partnership without deducting loans owing to any of the partners;
• a trustee of a trust (other than an occupational pension scheme, SSAS, personal pension scheme or stakeholder pension scheme) which has (or has had at any time during the previous two years) assets of at least £10 million (or its equivalent in any other currency at the relevant time) calculated by aggregating the value of the cash and designated investments forming part of the trust's assets, but before deducting its liabilities;
• a trustee of an occupational pension scheme or SSAS, or a trustee or operator of a personal pension scheme or stakeholder pension scheme where the scheme has (or has had at any time during the previous two years):
  • at least 50 members; and
  • assets under management of at least £10 million (or its equivalent in any other currency at the relevant time);
• a national or regional government, including a public body that manages public debt at national or regional level, a central bank, an international or supranational institution (such as the World Bank, the IMF, the ECB, the EIB) or another similar international organisation;
• another institutional investor whose main activity is to invest in financial instruments (in relation to the firm's MiFID or equivalent third country business) or designated investments (in relation to the firm's other business). This includes entities dedicated to the securitisation of assets or other financing transactions.