Immigrant Investor Programme (IIP)
The Ireland Immigrant Investor (IIP) program was introduced by the Irish government in 2012 to encourage business professionals & investors from outside the European Economic Area (EEA) to invest & locate their business interests in Ireland. The program, also known as the Irish Golden Visa, permits eligible candidates to acquire Permanent Residency (PR) of Ireland in as little as 9 months.
Today, with more than €1 billion investment from its resident investors, the Irish Golden Visa is growing at a fast pace. One key factor for its high success rate is that there’s no cap on the annual applications.
You can apply for the IIP if you meet all of the following criteria:
- You’re at least 18 years of age.
- You’re a non-EEA national.
- You have a clean criminal record. Investors must be of good character and not been convicted of criminal offences in any jurisdiction
- You have a net worth of €2 million. Investors must have a minimum net worth of €2m and disclose in full the source of their funds.
- Investors must show proof of having €1m or €400,000 available to invest into a project in advance of their IIP applications being submitted to the Department of Justice in Ireland. Also, you cannot take a loan to make the investment.
Eligibile Family Members
You can include your spouse/partner and minor children under 18 years of age in your application. In certain cases, children between the ages of 18 and 24 can also apply if they are –
- Unmarried and do not have a life partner
- Financially dependent upon their parents (e.g. they are in full time education)
- Enterprise Investment: A minimum of €1 million investment in an Irish enterprise, or
- Investment Fund: A minimum of €1 million investment in an approved investment fund, or
- Real Estate Investment Trust (REIT): A minimum of €2 million investment in an Irish REIT that is listed on the Irish Stock Exchange, or
- Endowment:A minimum of €500,000 (or €400,000) donated to a beneficial project in Ireland
How to obtain Ireland Residency by Investment?
Ireland IIP consists of four steps:
- Application: First, you make an application, without committing to any investment funds. Investors favor this feature as they don’t need to deploy the funds and make the investment before they get approval for the residency permit.
- Due Diligence: The Evaluation Committee checks and approves your application. Please note that all applications are subject to a due diligence process in respect of anti-money laundering, Know Your Client, Politically Exposed Persons, and sanction checks. Additionally, the officials are engaging in data sharing by the OECD common reporting standards.
- Investment:You proceed with an investment in accordance with your approved application.
- Proof of investment:Finally, you prove that you’ve made the investment.
Renewal of the IIP
- Approved applicants are initially granted Permanent Residency (PR) for 2 years.
- This can then be renewed for another 3 years on the condition that the investor is adhering to the conditions of the IIP.
- After 5 years of PR, the applicant & their family members can apply for PR indefinitely in 5-years blocks on the condition that you are not a financial burden in the country, and you have not been investigated, indicted, or convicted in relation to any criminal offense in any jurisdiction.
Physical residency in Ireland is taken into consideration in citizenship applications. If you and your family members don’t plan to reside in Ireland, you’ll not fulfill the residency requirements for Irish citizenship.
Under Irish law, you can be an Irish citizen without renouncing your current nationality. Ireland allows dual citizenship.
Contact us to know if you are eligible & how you can apply for the IIP.