Irish Ministry of Justice has announced that Ireland has provided Irish residency to around 1,200 investors worldwide. Since 2012, Ireland Immigrant Investor Program has been attracting more and more investors.
The program attracts foreign investors in many ways. The young population, a large international business sector, a high quality of life are only a few among them. The Irish passport is also regarded as one of the best passports in the world. It allows travel to 188 countries.
Combining these benefits with easy access to the EU, the Irish Golden Visa has become a favorable program for investors.
4 Options to Getting Residency in Ireland
This is mainly a residency by investment program for non-EEA (European Economic Area) nationals. You can choose one of the four options below, get approved, and then invest accordingly. In return for your investment, you’ll receive a residency permit in Ireland. To maintain your residency right, visiting Ireland once a year is sufficient.
Note that if you’re planning to get Ireland citizenship by investment, you’ll be required to live in the country for at least five years.
This is the most popular option among applicants for Golden Visa Ireland. Under this option, you need to make an investment of a minimum of €1 million in an enterprise. The investment must be kept for at least three years. It can either be an existing business or a startup. The enterprise has to have its headquarter in Ireland.
The enterprise must also create jobs for Irish citizens. Note that the investment must be made under your name, not a company.
Irish Naturalisation and Immigration Service (INIS) has a preference regarding this investment. It promotes investments made in primary care centers, nursing homes, and social housing.
Investment Fund Option
This option also entails an investment of a minimum of €1 million. It must be made in an approved investment fund for at least three years. Also, Central Bank must approve and regulate these funds.
You’ll also get a fund manager to manage your investment fund. In this way, you can work with an expert about your funds.
Real Estate Investment Trusts (REIT)
Firstly, a REIT is a company used to hold rental investment properties. This option requires you to invest a minimum of €2 million. You can invest in any Irish REIT if listed on the Irish Stock Exchange. You can also do it in more than one REIT.
An important benefit of this option is that you can divest 50 percent of your shares at the end of three years. At the end of four years, you can divest another 25 percent. Finally, you can divest all of them after five years. You can still maintain your residency after divesting completely.
Also, you’ll gain regular income each year through profits distributed by REITs.
Under this philanthropic investment, you need to donate €500,000 to a project. The chosen project must serve the public benefit. It can be in the fields of arts, health, sports, culture, or education.
You can also make investments with at least five people. In this case, each can donate a minimum of €400,000.
Note that you won’t get a financial return under this endowment option.
How To Become Eligible To Get the Irish Golden Visa
You need to:
- Be a non-EEA national
- Be at least 18 years of age
- Have a clean criminal record
- Prove that you’ll not get a loan for your investment
- Prove that you have a minimum net worth of €2 million.
Corporate Tax Rate is Only 12.5 Percent
The 12.5 percent tax rate is one of the lowest rates in Europe. It especially attracts the investors who plan to start their business here.
A Favorable Business Environment
Big companies like Huawei, Twitter, Pfizer, and a lot more own their operation centers in Ireland.
The country also stands out with its young population. According to European Commission’s website, individuals between the ages of 20-64 constitute more than half of the population. The median age of the population is also the lowest in the EU, it says.
The young population and an international environment create a dynamic business hub for investors.
High-Quality Education and Lifestyle with Family
The program allows the inclusion of family members along with you. You can add your spouse and children under the age of 18. If they are between 18-24 but full-time students, they can also be included.
According to the Human Development Index, Ireland ranks second in the quality of life category. It also ranks among the top 15 in the Global Peace Index 2020. So, it scores high in terms of personal security, safety, political stableness, and such.
Furthermore, some top international universities are also in Ireland. Among them are Trinity College Dublin, University College Dublin, RCSI University of Medicine, and The National University of Ireland.
So, investing and/or living in Ireland provides benefits in different ways. You can expand your business here as well as create a quality life for your family. We hope you enjoyed the article.