BIR was set up in 2006, when the growing need for a rescue service in the area was acknowledged. A five-person committee was formed on 20 April 2006. Later two further committee members were added.

On 4 August 2006 the company was incorporated as a Company Limited by Guarantee and Not Having A Share Capital, with the name Ballinskelligs Inshore Rescue Limited, company number 424612. The alternative Irish name Seirbhís Cois Cósta Bhaile’n Sceilg has been registered as a business name for use by the company. The company has five directors, being the members of the committee formed earlier. There are seven subscribers: the five directors and two others.

BIR obtained its first rescue boat in April 2007, a five-metre inflatable lifeboat (a D class) obtained second-hand from the RNLI. In January 2008 work commenced on a boatshed at Reen Pier by Cronin Developments Ltd., a local company. It was handed over in October 2008. In July 2008 a seven-metre RIB was delivered.

In September 2009 the service was deemed to have met the standard for a Community Inshore Rescue Service, following assessment by inspectors from Irish Water Safety. Among the benefits of this certification is eligibility for refund of VAT under the terms of the Value Added Tax (Refund of TAX) No. 18 Order 1985, in respect of sea rescue equipment.

In April 2011 BIR was approved as a member of CRBI by the Irish Coastguard. This means that the service is competent to be called out using the Marine Rescue Co-ordination Services paging network and can be tasked by the Coastguard during rescue operations.