Below you will find eight reasons why you should consider applying for legal residency in Ireland by investment. Ireland Immigrant Investor Program (IIIP) allows acquiring the resident status within a very short period. Please read the article to the end, and if you find this opportunity attractive, you are welcome to apply for a free consultation on the matter.
The IIIP is aimed at wealthy individuals from non-EU states who would like to acquire a legal status in Europe. There are other European countries that also offer ‘golden visas’, that is, residence permits to foreign investors but the Irish program boasts some advantages that other countries do not possess. If you are looking to acquire legal residency in Europe, you should not overlook the opportunity that Ireland offers. If you make full use of the IIIP, you can qualify for Irish (that is, European) citizenship after five years. Certain conditions will have to be met, however.
A foreign investor who wants to acquire an Irish residence permit has more than one path leading to the goal. One option is to make a non-returnable donation (an endowment) of 400,000 euros. The contribution will go to social causes. Another option is to put 1,000,000 euros into a business venture or an investment fund in Ireland. One more option is to invest 2,000,000 euros in real estate in the country. The investments are returnable in the two latter cases.
Whichever path you choose, you have to have at least 2,000,000 euros more in capital or property in order to qualify for legal residence in Ireland. The capital/ property can be located in any country of the world. Besides, each candidate has to bring a clean criminal record when applying for Irish residency.
Please note that it is impossible to acquire legal residence in Ireland unless you can supply a clean criminal record.
Below please find a non-exhaustive list of reasons why you should apply for Ireland Immigrant Investor Program if you are seeking legal residency in an EU state.
Reason #1: Minimum requirements to personal presence in Ireland
If you do not intend to apply for Irish citizenship in the future but simply want to get free access to all the EU and Schengen zone countries, you have to visit Ireland once every year and stay in the country for one day only. This will suffice to keep your residence permit valid. Such a lax personal presence requirement makes Ireland compare favorably against other European countries that run ‘golden visa’ programs.
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Reason #2: EU citizenship for investment in Ireland
If you choose to reside in Ireland for the best part of the year during a five-year period, you will become qualified to apply for Irish citizenship by naturalization after the period expires. Ireland is one of the most comfortable countries to live in on the planet and a European passport will give you an opportunity to travel to/ live in any EU country without obtaining any additional visas, work permits, or any other papers.
Reason #3: Easy access to Great Britain with an Irish residence permit
Irish and British authorities have signed an agreement that gives citizens and legal residents of the countries the opportunity to freely travel between the states. What is more, citizens of one country have access to medical services and other social benefits available in the other country.
Ireland is the only country that has this kind of agreement with the UK. When the Brexit decision was made in 2019, the agreement was extended. Thus, if you acquire full citizenship of Ireland after holding the legal residence permit for five years, you will be able to enjoy the travel, study, and work opportunities available not only in the EU states but also in Great Britain. This chance is unique indeed.
Reason #4: Grown-up children may be included in family applications for Irish residence
Family applications for Irish residency are accepted and dependent children under the age of 24 may be included. This is quite a liberal attitude to the children’s age as other countries that offer similar opportunities allow including only underage children in the family applications for legal residency.
Reason #5: Deduction on investment for educational purposes
If the foreign national acquiring residency in Ireland by investment sends their child to an Irish university, they become eligible for a 50,000-euro discount on the required investment amount. Two world-famous universities are located in Ireland: Trinity College and Dublin University College. If the foreign investor later acquires full citizenship of Ireland, they will thus give their children access to British universities as well.
Reason #6: Valuable second passport by investment in Ireland
The Irish passport ranks very high in all international ratings. It gives visa-free access to 199 countries of the world that together generate 80.8% of the global GDP.
Reason #7: Ireland is an English-speaking country
It is true that English is spoken in many European countries but Ireland is the only EU member state where English is a native language for the residents. And Irish accent is quite pleasant to the ear.
Reason #8: Irish economy is thriving
Ireland is among the top ten richest countries of the world as far as the GDP per capita is concerned. A large number of international corporate giants have offices in Dublin including such companies as Google, Facebook, Microsoft, Apple, Intel, Citi, Fujitsu, and others.
Expert support in acquiring legal residence in Ireland
As you can see, acquiring legal residence in Ireland is advantageous for a number of reasons. Ireland Immigrant Investor Program compares favorably against ‘golden visa’ programs available in other European states. The personal presence requirements are exceptionally liberal and if you can afford making an investment in the required amount, Ireland is certainly an option to consider.
Would you like to learn more about the opportunity to acquire legal residence in Europe by investing in Ireland? Please apply for a free individual consultation to the experts of InternationalWealth portal. We will assist you in choosing the best option basing on your personal preferences, goals, and financial opportunities. You are welcome to contact us by email, WhatsApp or our online chat. We always respond quickly!
Do I have to permanently reside in Ireland to retain my residence permit?
You do not have to permanently live in Ireland unless you are planning to apply for full citizenship of the country in the future. It is enough to spend one day in Ireland every year to retain the residence permit. If you comply with this requirement and if you keep your investments in Ireland, you will be able to extend your legal residence permit infinitely.
Can I acquire citizenship of Ireland by investment?
Ireland Immigrant Investor Program is not a citizenship-by-investment program of the kind that some other states offer. However, the legal residence permit can be used as an instrument of acquiring Irish citizenship by naturalization. To achieve this goal you will have to live in Ireland for the best part of the year during five years.
Who is entitled to apply for legal residency in Ireland by investment?
Anyone who can afford it can apply for Irish residence by investment. In addition to making the required investment, the candidate for Irish citizenship has to demonstrate having 2,000,000 euros in capital or property in other national states. The candidate spouse’s assets can be taken into account. Besides, all candidates must supply police clearances.