Do you have money and want to live in a European country? Maybe Ireland is your option. A diverse country with endless attractions, a progressing economy, and a high standard of living. Ireland Investor visa is a way for people who have enough funds to move to the country. If you are eligible, don’t miss the 2020 opportunity.
In this blog, we will explain who is eligible for Ireland investor visa, least required fund, application process, the 2020 scheme, FAQs, and more.
What is Ireland Investor Visa?
Ireland investor visa or investment visa is a platform for non-EU nationals to move to the country by investment. The Irish government wants to attract people who can contribute to the country’s economy. It is two birds, one stone story. The economy enjoys attracted investments while people benefit from the high standards of Ireland.
Are you Eligible for Ireland Investor Visa?
Ireland investment visa is a way to move to the EU as a resident. However, you should be eligible to apply for it. There are different areas you can invest in. The rules and requirements fo each are different.
Investment in enterprise
You must invest at least one million EUR into an Irish enterprise for at least three years. You could start a new business in Ireland or invest in a business already operating in the country. Providing you reach the least required fund, you could put your money into different enterprises. The investment must create jobs for Irish residents. You will become ineligible if you lay off staff or move your business to another country. The business must also be in your name, registered and located in Ireland.
You have to put at least one million EUR in an authorized investment fund and keep it for at least three years. There is nothing called the list of approved investments. However, you can get more familiar with investment funds set by Irish Naturalisation and Immigration Service. The investment must go toward small and medium companies; private equity or venture capital fund. The destined company must worth at least 20 million EUR. It must get regulated by the Irish Central Bank. The company must prove to be successful in the future. The Irish government’s definition of success is to create jobs first and then make a profit.
Real Estate Investment Trust (REIT)
Providing that you are not a risk-taker and want to avoid any financial loss, REIT is your option. You can avoid negative equity. The least required fund for REIT is two million EUR for three years. Remember that the REIT must be on the Irish Stock Exchange. In this option, you can distribute the fund in different REITs. Please note you can not sell your shares if the price rises.
There is a golden advantage with REIT investment. After three years, you can sell 50% of your shares. After another four years, you can sell another 25% of it. Finally, when you kept the shares for five years, you can sell them completely. However, you can still keep your Ireland residence permit.
Do you wish to spend the least required amount to move to Ireland? Then endowment it is your option. You have to donate 500.000 EUR into a public project. It must contribute to Ireland’s:
The donation must benefit Ireland’s public projects in one of the above options. Please remember there is no returning of the donated money. The money is non-reimbursable. You will not see it again nor receive any profit.
If you are part of a five investor group and want to merge donation, you could invest 400.000 EUR each.
Note: Please bear in mind that you must own the money for investment. The Irish officials will not accept loans.
apart from required investment fund eligibility, there are other factors to consider:
Being 18 is the least standard age to be eligible.
You must provide proof of a clean criminal record. You must not have been convicted of any sort of crime.
You could spend your time anywhere but still hold Ireland’s residence permit. However, you must at least spend one dad per year in Ireland.
Your net worth must be at least two million EUR.
Statement of good character
You must provide a certificate from the Police in your home country. Providing that you have lived in any foreign country for six months plus, provide a certificate from that country.
What are the Requirements for Ireland Investor Visa?
The requirements for Ireland investor visa are as follows:
A. Net worth evidence
You must hold at least two million EUR of net worth owned by yourself, not any other family member.
B. Business activity
Applicants must provide a report of the business or financial movements in the past tear:
C. Investments details
- What field you invested in.
- How much did you invest.
- The amount of profit you received.
D. Proof of income
- The length of employment
- Monthly salary, bonus, and commissions
- Any gifts received.
E. Proof of Loans
- The bank you received the loan.
- The amount.
F. Inheritance proof
Evidence that it is possible to transfer money to Ireland
H. Proof of family relationship
In case your children accompany you, provide evidence of the relationship.
Required documents for each investment programs
The Irish officials require particular documents for each program of investment:
Business plan of the project you are putting your money into. It must be comprehensive and cover:
- How your investment will create job opportunities for the Irish workforce.
- What percentage of the enterprise you will receive.
- How the profit of your investment will return.
In case you are investing in an enterprise already active in Ireland, provide audited accounts.
- The plan of investment
- Origin of the fund
- The employment opportunities the fund will create.
Real Estate Investment Trust (REIT)
- How many RETI has been purchased.
- The date of purchase.
- The complete amount of investment.
- Provide details on how the endowment will contribute to the favor of the Irish public.
- A business plan. You could find one on INIS’s website.
Please remember that after you invest, the authorities require the documents according to the type of investment.
Application Process for Ireland Investor Visa
The application process for Ireland investment visa is as follows:
1. Check whether you are eligible or not
The eligibility criteria for Ireland investment visa can be a bit tricky. Before you do anything, check whether you are eligible for an investment visa or not. As we explained above, there are different areas you must check. Make sure you fit into one of them.
2. Complete the application form
The first requirement to complete is Ireland investor visa application form. You could receive it from the Ireland Naturalisation and Immigration Service website. Please be careful while you complete it. What you fill in, it must be true, and according to your documents.
An Irish lawyer or agent is useful in the Investment visa application process.
3. Gather requirements
Aside from the application form, you have to submit a few supporting documents. They are to prove your eligibility. You could find the list in the section above. Please note that if one part of your documents is missing or faulty, it will last longer.
4. Submit the requirements
When you gather everything, you should submit them online. Provide a scan form of the documents and send them to ”iip&[email protected]” email address.
5. Pay the fees
There is also a fee for application processing. Ireland investor visa costs you 1.500 EUR. You should pay it online and attach the receipt to your application. Without paying, your application will not get processed. Remember that in case your application gets denied, the fee is non-reimbursable.
6. Wait for approval
When authorities receive your application, they will check and judge it in an Evaluation Committee. If they deny your case, you have to apply another time. The processing of this stage takes a bit long. Wait at least three months for the authorities’ decision. They will evaluate your application based on:
- Your particular case
- How many jobs the investment will create in Ireland.
- The effects of the investment on Ireland’d economy.
- Success rate of your project
The processing will be longer if authorities ask for more documents to decide on your case. That is why having a lawyer or counselor is helpful. When Irish officials approve your application, you will receive a pre-approval letter. The letter allows you to invest in Ireland. Remember, you only have 90 days to invest.
When you receive the pre-approval letter, start an investment procedure. Please do not forget you only have 90 days to do it. When you invested, provide the related documents to the Minister for Justice and Equality (MJE).
8. Residence permit
Once the MEJ approves your investment, they will issue you an approval letter. You should use the approval letter to register to the registration office of Dublin. They will grant you a residence permit (stamp 4) to stay in Ireland legally. Stamp 4 allows you to live, work, study, and own your enterprise. Congratulations!!!.
When Can I Apply for Ireland Investor Visa in 2020?
The approximate time for Investment visa application is as follows:
- 17 February 2020 – 21 February 2020
- 20 April 2020 – 24 April 2020
- 22 June 2020 – 26 June 2020
- 31 August 2020 – 4 September 2020
- 26 October 2020 – 30 October 2020
Please remember that the dates might be subject to change due to the COVID-10 pandemic.
Can I Bring My Family under Ireland Investor Visa?
YES. You can bring your family member under an Ireland investment visa. However, not everyone. You can only bring:
- Your spouse or law partner
- Children under 18.
In a few particular cases, you can bring your 18-24 children. The children must be dependent on you.
Can I Extend Ireland Investor Visa?
YES. It is possible to extend the Ireland investor visa. The initial validity is two years. You can extend it for another three years if you wish. After passing five years, you could apply for a Permanent Residency if you are eligible.
Can I Apply for Permanent Residency under Ireland Investor Visa?
The answer depends. You must be eligible. After two years, you can extend the Ireland investor visa for three years. Then if you are eligible, you can apply for Permanent Residency.
Let’s sum up…
In this blog, we explained everything you should know about Ireland investment visa.
We have covered who is eligible for investment visa, investment programs, requirements, application process, FAQs, and more
You can find all the Ireland visa information in the world here. To find out more about the visa that suits you, go through the menu of the site. You can find all the types of Ireland visas at the left sidebar.
You can check Visa Library to find more information about other countries’ visas.
In case you have some experience, please write it down in the comment section. Your comments let the readers choose better and avoid mistakes. Conveying your experiences as comments is a great help for applicants.