If you want to invest in Ireland and obtain permanent residency, obtaining Ireland Investor Visa is of utmost importance.
Ireland is rapidly becoming the new hotspot for investors who seek the path of investment for long-term residency and European citizenship. Its economy is expanding and Ireland takes great pride in being home to several startups, exciting innovations, and established multinationals.
With a developed education system, Ireland offers an exceptionally high standard of living and provides language advantages. Being a booming economy and a hospitable nation, Ireland is an impeccable destination for businessmen and entrepreneurs so they can relocate and set up their businesses in Europe. The Ireland Investor Visa is often referred to as an Ireland Golden Visa.
Becoming a resident in Ireland has become a lot easier. Thanks to the Ireland Immigrant Investor Program (IIIP)!
What is the Ireland Investor Visa?
Also known as the Ireland Immigrant Investor Program (IIIP), the Ireland Investor Visa was introduced by the Government of Ireland in 2012 to encourage inward investment for creating business and employment opportunities, while offering residency to business professionals with a proven success record. This investment program gives an amazing opportunity to invest in the nation and get residency.
Eligibility for Ireland Investor Visa
To be eligible for an Ireland Investor Visa, you need to ensure that you fulfill the below-mentioned requirements:
- You must be of sound, moral character
- You are required to have a net worth of no less than €2 million. Also, you ought to have assets that had been acquired legally by you through business, commercial activity, endowment, inheritance, and/or divorce.
- Your investment should optimistically impact the economy
- You have got to invest in one of the four eligible investment options
- You must not have a criminal conviction in any jurisdiction
Documents You Require for Ireland Investor Visa
Depending on the investment you choose, you need to submit the documents via email to the Irish Department of Justice:
- Comprehensive Business Plan: This plan should place great emphasis on the investment made for the visa and the equity extent you will acquire in the business. There is a business plan template, which is available on the website of the Irish Immigration website.
- Make sure you submit the latest audit records of the business if you are investing in an existing business.
Detailed profile of the investment fund, which states the below-mentioned:
- Funding source
- Investment strategy
- Investment fund pool
- Target ROI (return on investment)
- Employment projections of the investments under the fund
Real Estate Investment Trust
- An indication that you are looking to invest in a Real Estate Investment Trust (REIT). Avoid stating which listed option you selected. Doing so will prevent sensitive information from being leaked.
- Evidence of having necessary funds for the investment.
- The business plan template is available on the Irish Immigration website. You can get a feel for the template for this investment type.
Regardless of the investment, applicants are required to submit the following documents:
- Original passport and its photocopy
- Two passport-size photographs
- Proof of your net wealth
- Proof of enough funds
- Original police clearance certificate
- Proof of private medical insurance
- Proof of income and loans
- Payment receipt of the application fee
- Proof of relationship with other family members
- Statement of the source of funds. Fund sources include inheritance and gifts, business and investment activities, divorce settlement, and deeds of sale.
Benefits of Ireland Residency
Quick Processing Time
Department of Justice generally decides within two months
No Language Tests
There is no language requirement for initial applicants
The Entire Family is Eligible
Spouses/civil partners and dependent children who are under the age of 24
Travel Without a Visa
You can travel to 177 nations worldwide, including the EU and UK using an Irish passport
High Schooling Standards
You get access to several reputable universities at reduced EU tuition fees
As in the UK, tax liability in Ireland is based on residence as well as domicile
No Requirement for Residency
You can visit the country once a year to keep the permit
EU Residence & Citizenship
You get the eligibility to apply for permanent status and citizenship subsequently
Travel without a Visa to 177 Countries Worldwide
An Irish passport allows you to boost your travel mobility – get visa-free access globally, which includes the EU and UK. The following are the European countries you can visit visa-free:
- Czech Republic
- The Netherlands
Investment Options for the Ireland Investor Visa
You can obtain Irish residency by investing in one of the four below-mentioned options approved by the Government of Ireland:
You need to invest no less than €1 million in an Irish company. Make sure you keep your investment for at least 3 years. The company you choose to invest in should be registered in the country. Whether it is a new business or an existing one, at least 60% of the employees as well as cost-base have got to be located in Ireland.
You need to invest no less than €1 million in an approved investment fund in Ireland and keep the same for at least 3 years. The investment funds must be approved and regulated by the Central Bank of Ireland.
Real Estate Investment Trust (REIT)
You need to invest no less than €2 million in an Irish Real Estate Investment Trust (REIT). Ensure that you keep the investment for at least 3 years.
You are likely to divest at most 50% of the shares after 3 years, and another 25% after 4 years. This investment is likely to be spread across many different REITs. However, all investment funds should be listed on the Irish Stock Exchange.
Applicants to the Irish investor visa scheme are likely to donate no less than €500,000 to an approved philanthropic project based in the country in art, health, sports, cultural, or educational projects, which is of benefit to the public.
Can Family Members Join?
Yes! If you invest in Ireland, you and your immediate family members will receive residence permits. Qualifying family members include:
- Your spouse or partner
- Children who are less than 18 years, for whom either you or your spouse/partner have custody.
- Dependent children between the ages of 18-24. To qualify, adult children up to 24 years of age are required to be unmarried and financially dependent on you or your spouse/partner (for example, students).
Stamp 4 residence permits will be received by your family members. They enable them to work in the country without needing to apply for an Employment Permit.