Why is the Irish Immigrant Investor Programme (IIP) so popular for affluent entrepreneurs and investors?
Ireland provides entrepreneurs one of the lowest corporate tax rates in Europe at 12.5%, drawing in evermore successful businesspeople who wish to use Dublin as their HQ. It is one of the fastest growing economies in Europe, offering investors both confidence and a world of opportunity.
In addition to being a member of the European Union, Ireland has a Common Travel Agreement (CTA) with the United Kingdom which allows both British and Irish citizens to move freely between and reside in either area/jurisdiction.
The CTA also guarantees citizens of both the UK and Ireland the right to work, study and vote in certain elections as well as to avail local welfare and health services. This already agreed CTA will give Irish citizens a unique advantage over other European investment migration options after-Brexit.
What are the benefits of the Irish IIP?
Unlike citizenship programmes that require a non-refundable government contribution (Cyprus, Malta, St Kitts) most residency programmes (including the Irish IIP) do not have these ‘sunk costs’. The required IIP investment in real estate, funds or other assets can be fully reimbursed/exited/sold at the end of the minimum investment period stipulated in the residency programme regulations (5 years).
The Irish IIP is one of the lowest risk residency programmes and acts as a stepping stone to European citizenship. The IIP grants the foreign national the right to reside in Ireland. After 5 years of physical residency, they can exit their investment (anticipating a full reimbursement of their capital) and apply for Irish Citizenship (12-month process).
The foreign national can invest EUR 1,000,000 with peace of mind in a low-risk, asset-backed mutualised debt fund that is regulated by the Central Bank of Ireland. The IDLF fund is the only asset-backed debt fund available on the Irish market and provides investors with the assurances that they will have their capital returned at the end of the investment term. The fund follows a conservative loan investment policy to a portfolio of Irish business in the hotel and education sectors.
IIP applicants are eligible to a EUR 50,000 reduction in the minimum investment required, if one of their adult dependent children included in the application are enrolled in one of Ireland’s world-class universities for tertiary education.
There is no requirement for IIP applicants to demonstrate a proficiency in English, the key requirements are to prove they are of suitable character and can meet the due diligence assessment.
How do you apply for the Irish IIP?
The investor may visit Ireland, though it is not mandatory, to select which approved investment route to take under the Irish IIP.
All pertinent documentation to apply for the Irish residency permit is collated.
The application is submitted for review including proof of income, proof of funds, criminal records etc…The application review will take 6 to 9 months after which the competent authorities will announce their decision and the approved investment can be made (and proof submitted).
The investment is made and the applicant can arrange to travel to Ireland to receive the Stamp 4 visa which allows him/her to live, work, study and/or set up a business in Ireland.
After the 2 Years have elapsed, if the Approved Investment is still held and meets the criteria necessary, this can be renewed for another 3 years.
After 5 Years he/she may continue renewing the 0.478/Stamp 4 permit so long as they visit Ireland for atleast 1 day a year even after the Investment has been returned to the Investor and/or sold/exited.
Those who seek to relocate and permanently reside in Ireland can apply for an Irish passport through naturalisation after 5 years in the country.
Why the Irish IIP is the right choice
The Irish IIP is the first choice for affluent investors and business owners seeking solid residency solutions in Europe.
Ireland is a financial hub, the HQ of Google, Facebook, Twitter, Huawei, Novartis and numerous other businesses. The Immigrant Investor Programme offers an opportunity for high-net worth individuals to invest in the Irish economy and it provides a safe, secure and booming economic environment for investors’ businesses and families to flourish in.
If you would like to book a Free Consultation with AXESA Global to discuss what residency solution is best suited to you/your client’s needs – please email us at email@example.com. We are committed to delivering expert know-how, value added services and full support during the entire process of residency and relocation.