The Irish Government implemented the Immigrant Investor Programme in 2012 to encourage foreign direct investment into Ireland. This has drawn a pool of foreign investors who have benefitted from this residency solution, opted for relocating to and participating in the Irish economy.
Investment Option selection
The investor may chose to visit Ireland at this stage, though it is not mandatory. The investor selects which approved investment route to take under the Irish IIP after reviewing all information.
Due Diligence (2 Months)
The investor shall provide all pertinent documentation to apply for the Irish residency permit including:
1. Clear Criminal Record from their home country and other jurisdictions they have resided in during the past 10 years (minimum);
2. Several due diligence checks and reports will be undertaken to assess good character of applicant and any dependents included;
Application Submission & Review (6 to 9 months)
The investor will need to submit their application file for review.
The documents required will include amongst others;
1. Proof of Income; corporate documents, audited accounts, details on source of funds/income, loans, deeds of sale, divorce settlements, inheritance and/or shares/investments held.
NOTE: Under no circumstances will a loan given to the applicant in order to make the Irish IIP application, be accepted.
2. Proof of funds for Proposed investment; depending on the Investment Route selected a list of documents will be required outlining the funds available for the target investment. The actual investment shall only be done after the investor is approved.
3. Criminal Records; police reports from the country of origin of the investor and any dependents. Dependents can be a spouse or unmarried dependent children of either spouse under the age of 24 .
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).
Investment in Ireland
The investor may chose either Investment Route:
1. Enterprise Investment : EUR 1 Million in an Irish start-up set up by the investor or an existing Irish business, that generates employment.
2. Investment Fund : EUR 1 Million in an approved Investment Fund for a minimum of 3 years (normally 5 years). The funds and fund managers must be regulated by the Central Bank of Ireland to conduct business in Ireland.
3. Real Estate Investment Fund (REIT) : EUR 2 Million in any Irish REIT that is listed on the Irish Stock Exchange. A REIT is a listed company, used to hold rental investment properties.
4. Endowments: EUR 500,000 philanthropic contribution that has a public benefit in the arts, sports, health, cultural or educational field.
Stamp 4 Issued (2 Years Validity)
1. The investor shall need to travel to Ireland to receive the Stamp 4 Visa allowing him/her to live, work, study and/or set up a business in Ireland.
2. The Stamp 4 visa holders must visit atleast 1 day a year.
3. 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.
4. After 5 Years he/she may continue renewing their Stamp 4 permit so long as they visit Ireland for atleast 1 day a year even after the Investment (Stage 4) has been returned to the Investor and/or sold/exited.
5. Those who seek to relocate and permanently reside in Ireland can apply for an Irish passport through naturalisation after 5 years in the country.
Route to Citizenship
In a post-Brexit era, the Common Travel Area (CTA) positions Ireland in a strong standing as it is a unique advantage. Irish citizens will continue to be eligible to work, study, travel and live in the United Kingdom regardless of the Brexit outcome.
Irish Citizenship is granted to those who have permanently resided in Ireland for 5 continuous years (with no breaks in the last 12 months prior to application).
All Irish IIP applicants can avail a EUR 50,000 discount for any dependents who apply to study in an Irish University. Ireland offers some of the leading universities (Trinity College, University of Dublin) in the world, its pro-business and has some of Europe’s best tax-incentives. These are only a few reasons why Ireland is the best choice for investors seeking both family and business priorities.
The Common Travel Area
The Common Travel Area (CTA) is a long-standing arrangement between the UK, the Crown Dependencies (Bailiwick of Jersey; Bailiwick of Guernsey; Isle of Man) and Ireland.
It enables British and Irish citizens to move freely between and reside in either area/jurisdiction. They also grant citizens of either the right to work, study and vote in certain elections as well as to avail local welfare and health services.
This already agreed CTA arrangement will give Irish citizens a unique advantage over other European investment migration options after-Brexit.
To find out more about the Irish Immigrant Investor fees and disbursements please click the button below.
Do get in touch to book a Free 60 Mins Discovery call to discuss the best option suited to you/your client’s needs.