If you are an individual wishing for mobility within the EU, an Ireland Immigrant Investor Visa may be your answer!
The Ireland Immigrant Investor (“IIP”) Visa will afford you the opportunity to live, work, and study in Ireland for both you and your dependents.
With an IIP visa, applicants and their dependents can enjoy the same benefits as other Irish residents, including free education, outstanding medical care, and the global mobility and security of an Ireland visa on their passport. As an EU member, Irish residents can also travel to the other 26 EU countries visa-free.
To apply for the IIP Visa, applicants must demonstrate they have a legally acquired minimum net worth of EUR 2 million, not based on loans or funds owned by another individual. They must also choose one of the four investment options listed below:
- Enterprise Investment: A minimum investment of EUR 1 million in either a single Irish enterprise, or several enterprises for a minimum of 3 years;
- Investment Fund: A minimum investment of EUR 1 million in an approved Ireland Enterprise sector investment fund held for a minimum of 3 years.
- Real Estate Investment Trusts (REIT): A minimum investment of EUR 2 million in any Irish REIT listed on the Irish Stock Exchange for 3 years.
- Endowment (non-refundable donation): A minimum endowment of EUR 500,000 in a project of public benefit in arts, sports, health, cultural or educational field (EUR 400,000 also available if client meets eligibility requirements).
One significant advantage to the IIP Visa is that it allows applicants to make the investment only after their application is approved, thereby lessening the risk of lost investment. There is also no English language requirement, and a very achievable residency requirement of only 24 hours per calendar year spent in Ireland.
Once approved, an Ireland IIP Visa is valid up to 2 years. After this time, applicants and their dependents may apply to extend this visa for another 3 years, provided they maintain the necessary investment and residency requirements.
After the initial 5-year period, applicants and dependents can either apply for another 5-year visa extension or apply for Permanent Residence (if residing in Ireland), or apply for Irish Citizenship, provided they meet the necessary residency and other requirements.
Ultimately, the Ireland IIP Visa is a great option for high-net-worth individuals who wish to obtain legal residency status to Ireland, the only English-speaking EU-member country, without the need to relocate. As a distinguished country and long-standing EU member with a highly sought-after standard of living, Ireland is a clear choice for individuals wishing to expand their investments and their global mobility.
If you would like further advice on the Ireland Immigrant Investor Visa or other residency visa and citizenship by investment programs offered, please contact our immigration lawyers at https://www.harveylawcorporation.com/contact/.
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