By last weekend, one million people were expected to have registered their interest in Telecom Eireann's share offer. If the offering follows international patterns, between 15-45 per cent of those who registered will actually purchase shares when they become available.

Unfortunately, the Irish living abroad may miss out on their slice of the telecommunications pie unless they have an Irish address.

According to the spokesman for Telecom Eireann, the only registration requirement is that you have an Irish address. Although the company refuses to elaborate further on this point, it seems that anyone, despite their nationality or citizenship status, is eligible to purchase Telecom shares.

It also seems quite possible that Irish citizens living abroad, in fact anyone living abroad, may register as long as they use an Irish address. In most cases, emigrants have family or friends here so a postal address is not a problem. Even though the electoral register was used to develop a postal list for the flotation, it is not necessary to be on the electoral register to buy shares. Those who didn't receive a registration card by post may call the FreeFone number 1800 715 111 to register their interest.

So, is it worth the hassle of registering if you live abroad? At the moment, it appears likely that the maximum amount offered to individual investors will be well below £1,000. If even just a quick sale is desired, there may be problems surrounding taxation and currency fluctuations for those living abroad.

Before you call the cousin in Australia or daughter in the US, it is important to determine if their country of residence has a double tax agreement with Ireland. If they do, tax will be due in the country of residence, not Ireland following sale of the shares says Ms Anne d'Arcy, KPMG's manager in charge of international executive tax.

The deadline for registering by post or phone is May 28th.