With its world class educational institutes and high standard of living, it is no wonder that Ireland has a successful immigrant investor programme. As a pathway for non-EEA nationals to secure immigration permission to Ireland, the immigrant investor programme provides an opportunity to invest a sum of money into a project that has been approved by the Department of Justice and other Government stakeholders.
What is the Irish Immigrant Investor Programme?
Introduced in 2012, the Irish Immigrant Investor Programme (IIP) was introduced by the Irish Government to encourage investment in the country to help the creation of businesses and employment opportunities. This was put into place to specifically attract investors that are based outside of the European Economic Area to invest and locate their business interests in Ireland, thus also acquiring a secure residency status in Ireland.
Although permanent residence and citizenship by invest programme is not offered, those on the Irish Immigrant Investor Programme can extend their residency every few years for an indefinite period. For those looking for citizenship within Ireland, having a long-term residency can support this application.
What is required to apply for the Irish Immigrant Investor Programme?
To participate in the Irish Immigrant Investor Visa Programme, applicants need to be high net worth individuals with a personal wealth of at least €2 million. The IIP requires applicants to invest a minimum of €1 million for a minimum of three years. This investment needs to come from the applicants personal funds, not finances through a loan or other facilities.
Other factors are also considered when applying for the Irish Immigrant Investor Programme, including references confirming good character and proof of no conviction for a criminal offence in any country across the world. It is also important to provide information on how the required funds will be converted into euros. This proof must all be submitted in the form of a letter, with the right financial institutions confirming the information.
What investment options does the Irish Immigrant Investor Programme offer?
The Irish Investor Visa Programme offers four investment opportunities for potential investors.
- Investment Fund: This requires a minimum of €1 million invested in an approved investment fund for at least three years. This type of Investor Programme needs to be regulated by the Central Bank in Ireland.
- Enterprise Investment: For this, a minimum of €1 million should be invested in an Irish enterprise for at least three years.
- Real Estate Investment Trusts (REIT): This investment option requires a minimum of €2 million investment for any Irish REIT that is listed on the Irish Stock Exchange.
- Endowment: This is a slightly different investment type which requires a minimum of €500,000 philanthropic donation to a public project that benefits the arts, sports, education or culture within Ireland.
How to apply for the Irish Immigrant Investor Programme
The application process for the Investor Programme is fairly simple. Easily carried out by our team here at Passport Legacy we would handle the following steps for you.
Step 1: Evaluate the Irish Immigrant Investor Programme by the investment options with the right legal counsel
Step 2: Obtain all required supporting documentation. These include:
- A completed application form that outlines the investment opportunity you wish to make.
- Supporting documents that are listed in the guidelines which includes evidence of your net worth, details on the source of your wealth and evidence of good character.
- Business plans for your chosen investment option.
Step 3: Submit the above information via email to IIP & [email protected]. No investment is required at this stage, however there is a filing fee of €1,500 which also needs to be recorded.
For more information on how to apply for any other type of visa, whether that be within the European Union, Caribbean or other, please find further information on our website here.