- July 30, 2020
- Posted by: Editor
- Category: Law
From an entrepreneurship point of view, Ireland is one of the most prolific countries in Europe and the European Union. While the citizens of EU member states do not need a specific visa to immigrate to Ireland in order to start a business here, non-EU citizens must have had to go through a lengthy process before entering the country until a few years ago. In 2012, the government created the Ireland investment visa under which foreign citizens of non-EU and non-EEA countries can move to Ireland much simpler.
Also known as the Immigrant Investor Program, the scheme introduced and amended several times by the Irish authorities is now one of the most successful in Europe.
If you are a non-EU citizen and are planning to apply for the Ireland investment visa, our lawyers can help you. As an investor relocated here for business purposes, you must also make sure that you have an Irish residence permit.
Requirements for obtaining an Ireland investment visa
As mentioned above, the first and most important requirement for the Immigrant Investor Scheme is for the applicant to be a non-EU national. Then, he or she must comply with specific regulations among which being at least 18 years old, having a clean criminal record, and sufficient funds to obtain the visa.
In terms of investment, Ireland offers various options to whom wants to obtain an investment visa. These are:
- at least 1 million euros in immigrant investor bonds which are approved by the government;
- at least 1 million euros which can be invested in an existing Irish business which has been active for a minimum of 3 years;
- at least 1 million euros in an investment fund approved by the Irish government;
- at least 2 million euros in a Real Estate Investment Trust (REIT) which is listed on the Irish Stock Exchange;
- a mixed investment which much consist of real estate purchase with a value of 450,000 euros and government bonds worth a minimum of 500,000 euros;
- a donation to a philanthropic project in various economic sectors worth at least 500,000 euros.
Other aspects that need to be considered are for the investor to have a net worth of 2 million euros and maintain the investment for a minimum period of 2 years.
If you are interested in obtaining an investor visa, our immigration lawyer in Ireland can provide details on all the investment options. You should note that you need to choose one out of all these options. Among all EU countries, Ireland offers the largest variety of possibilities in terms of the investment visa, which can also open the legal pathway to Irish citizenship.
Documents required for the Irish investor visa
The list of documents to be filed by the person seeking to apply for an Ireland investment visa is quite comprehensive. Apart from the valid passport, each investment option must be documented separately.
If you are interested in immigration to Ireland through an investment visa and want to apply for an investor visa by injecting capital in a company, you should prepare the following documents:
- a solid business plans in which each financial investment is well-described (the plan must contain details about the creation or maintenance of jobs);
- information about the financial activity of the applicant in the past 12 months must also be filed;
- proof of the 2 million euros net worth is also required under the form of a bank statement or other supporting documents;
- the amount of money to be invested in the company must be deposited in an Irish bank account;
- the source or sources of the funds must also be properly documented;
- detailed information about the company to be invest in must be provided.
It is also possible to obtain an Ireland investment visa by relocating an existing business in this country for those who own one.
Considering that for other investment options, the documents to be prepared are different to some extent, you can ask for the support of our immigration lawyers in Ireland who can help you prepare them. If you want to permanently relocate here, you must know that you can obtain the Irish citizenship as well, and this can also apply to your family members who have relocated here.
How to choose the best investment option
Ireland is one of the few countries to offer multiple choices to those who want to immigrate here based on investment. While for some the possibility of starting a business is the most viable, for others buying a property in Ireland seems like a better option. Either way, the amount of money to be injected is nearly the same. In order to find out if the value of the property is 450,000, the future owner can make an inquiry with the Irish Land Registrar.
Other important aspects to consider when applying for an Ireland investment visa is that the Irish residence permit is first issued for 2 years and then can be renewed for 3 more years. Following that, the foreign citizen can apply for an Irish permanent residence permit.
The investor visa is one of the fastest routes for non-EU citizens who want to move to Ireland, so if you are interested in this program, do not hesitate to contact our immigration lawyers for assistance.