The Department of Justice has published 2014 guidelines on the Immigrant Investor Programme – an initiative started to bring investment and new jobs into Ireland essentially and it also offers an easier way for businesses who can bring something Ireland, to settle in and call Ireland home while they do so.
If you are a European Economic Area (EEA) or Swiss national, you’re entitled to come and work in Ireland either as an employed or a self-employed person. EEA and Swiss nationals do not require a business permission to establish a business in Ireland and they do not require a visa to visit, travel to, live or work in Ireland. Non-EEA nationals can establish a business in Ireland but they require permission to do so. Following the opening of 2 new schemes for non-EEA investors and entrepreneurs on 16 April 2012 there are now 3 ways in which non-EEA nationals can invest or start a business in Ireland – and the Immingrant Investor Programme is just one of these.
The Immigrant Investor Programme provides a range of investment options which allows approved non-EEA investors and their immediate family enter Ireland on multi-entry visas for up to five years, with the possibility of further renewal. When the scheme began, In order to be considered for the programme, the proposed investment must be in one of the following areas, but there are some changes in the 2014 guidelines, which we have shared a link to at the end of this article. Substantial changes to the scheme this year include the inclusion of Real Estate Investment Trusts (REITs) as an eligible investment (€2 million minimum investment) and the imposition of a minimum net worth requirement of €2 million for investors.
- A once-off endowment of at least €500,000 to a public project benefiting the arts, sports, health, culture or education. The endowment can be €400,000 if it is pooled by at least 5 individuals.
- A minimum €500,000 (was €1,000,000) aggregate investment into new or existing Irish businesses for a minimum of 3 years
- A minimum €1,000,000 (was €2,000,000) investment in a special low interest 5-year immigrant investor bond
- A mixed investment consisting of a minimum €450,000 (was €500,000 in property and €500,000 in immigrant investor bonds
- A minimum of €500,000 in a managed fund which would invest in Irish businesses and projects
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