Do you have an interest in Ireland, maybe your ancestors came from the Isle, and now you’d like to give something back by making a significant investment into the country? Or, maybe you have an innovative business idea, and Ireland, with its educated workforce, good standard of living and its access to the EU would make the country the perfect location to launch your idea.
There are two main business Visa types that would allow you the time to stay in Ireland to set up your company or be allowed to enter the country multiple times. One of these is the Investor Visa Programme (IIP), this is open to non-EEA citizens and requires a minimum of €1million investment from their own resources. The second is the Start-Up Entrepreneur Programme (STEP) also open to non-EEA citizens, this is Ireland’s entrepreneurial visa.
The Irish Investor Visa scheme was introduced in 2012. There have been 100s of applicants since its introduction — most of them within the past year or two. The Visa requires the investor to make a contribution that will help the Irish economy.
As outlined by Citizens Information.ie The type of investments made generally fall into four categories:
- Enterprise Investment: A minimum €1 million aggregate investment into new or existing Irish businesses for a minimum of 3 years. The enterprise can be a start-up registered by the investor. Your investment can be in a single Irish enterprise or spread over a number of enterprises. The enterprise must be registered and headquartered in Ireland and the investment must support the creation or maintenance of employment.
- Investment Fund: A minimum of €1 million investment in an investment fund for at least 3 years. Investment funds must invest in Irish businesses and projects. The route for a fund to be accepted as an investment for the purposes of the Immigrant Investor Programme is for it to be part of an application by an individual investor. There is no list of approved funds but you can read about the criteria for investment funds on the Inis website.
- Real Estate Investment Trust (REIT): A minimum investment of €2 million in any Irish REIT listed on the Irish Stock Exchange. The investment may be spread across a number of Irish REITs.
- Endowment: €500,000 to a public project benefiting the arts, sports, health, culture or education. The endowment can be €400,000 per investor if it is pooled by at least 5 individuals.
Entrepreneur Programme (STEP) is aimed at entrepreneurs with a high potential startup idea, that would like to set their business and reside in Ireland on a full time basis. The minimum investment required here is €50,000.
The remaining application dates for 2020 are as follows:
- 22 June 2020 – 26 June 2020
- 31 August 2020 – 4 September 2020
- 26 October 2020 – 30 October 2020
At Gibson & Associates Solicitors our immigration department has already successfully secured several Investor Visa application to date. Talk to our friendly team today for a no-obligation talk about your options and eligibly.