What is the Irish Residence Permit Investor Programme (“IIP”)?
The Ireland Immigrant Investor Programme (IIP) was introduced in 2012. It is a well-established and renowned programme providing a clear path to permanent residency status in Ireland (with almost no physical presence required) in exchange of a one-time investment (which may be recouped after only 3 or 4 years).
It is suitable for very high net-worth individuals, the crux of the eligibility conditions being that one must be able to show net worth of at least €2 million (regardless of the selected investment option/amount).
Advantages of the Irish Residence Permit
- Well established program with Possibility to get investment back after only 4 years
- 2 + 3 years Residence Visa : Right to live, work and study
- Dependents included:
- Spouse/civil partner
- Children below 18 yo (or older if below 24 yo in full time education) may be include
- Access to free education and healthcare
- No language requirement
- Clear path to Irish citizenship / European passport: requires 5 years of residence in Ireland
Qualifying Investment Options
- At least €1M in Enterprise Investment or Investment Fund;With possibility to get your investment back after only 4 years OR
- An Endowment (non-refundable donation) of € 500k in the arts, sports, health, cultural or educational fields (€400k donation option also available)
Irish residence permit requirements
- Applicant must have legally acquired net assets of at least €2M
- Show source of investment monies that are readily available/convertible/transferrable to Ireland (not a loan)
- After pre-approval: 90 days to make a qualifying investment
- Clean criminal records
- Good health. Must have private medical insurance covering their period of residence in Ireland
- Must spend at least 1 day per year in Ireland for only 5 years
- Residency required: at least 1 day per calendar year within a 5 year period. No residency requirement thereafter
Process
- Eligibility checks
- Discuss Investment Options
- Detailed due diligence
- Documents collection and submission of your application – The application must be pre-approved by an Evaluation Committee that reviews applications 4 times per year
- Investment to be made 90 days after pre-approval
- Travel to Ireland for biometrics and activation of residence visas – valid for 2 years – then renewal for 3 more.
- After those 5 years, applicant and dependents can:
- Apply for successive 5-year visa extensions permanently; or
- Apply for Citizenship (subject to meeting residency and other requirements)
FAQ
The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice. Such information is subject to changes without notice. Each case is unique and depends on the facts and circumstances of the individual and due consideration should be taken if applying the general information to your personal situation. For an evaluation of your personal circumstances one of our legal team would be happy to assist.
If you are an individual wishing for mobility within the EU, an Irish Residence Permit Investor Visa may be your answer! Read more here