In 2012, the Ireland Immigrant Investor Program was launched to allow rich people and families from outside the European Union to seek residency in Ireland in exchange for making a pre-approved investment in the Irish economy. Although the programme does not give permanent residency, it can be extended every few years for an indefinite duration if the necessary conditions are met. Although the Ireland Investor Immigration Program does not offer Irish citizenship in exchange for money, a long-term stay in Ireland can be used to support a citizenship application under Irish naturalization procedures. In favor of lower-cost EU residence programmes, the Ireland Immigrant Investor Programme (IIP) is sometimes disregarded. However, for individuals with the financial means, Ireland provides some significant benefits over its EU neighbors and is worth considering, particularly for those who intend to relocate entirely to the EU.
Investors will receive an Irish residency permit if their IIP application is approved, allowing them to travel throughout the EU and Schengen zone. The minimum stay requirement for investors who simply want a resident permit in Ireland and do not want to apply for citizenship afterward is merely one day each year. Among EU countries offering similar programmes, this has one of the lowest stay requirements.
Investors will be able to seek Irish citizenship and an Irish EU passport after five years of full-time residency. After this has been issued, the holder will be able to live, work, and study in any other EU country without the need for a separate visa.
OLDER CHILDREN ARE WELCOME
Applicants with dependent children under the age of 24 are eligible. In other EU nations, such as Portugal and Greece, the typical age limit is lower.
PASSPORT WITH A HIGH RANKING
Ireland’s passport is one of the best in the world, providing visa-free travel to 199 nations and territories, accounting for 80.8 percent of global GDP.
COUNTRY THAT SPEAKS ENGLISH
Despite the fact that English is widely spoken in many EU countries, Ireland is the only EU country in which it is the official first language.
In terms of GDP per capita, Ireland is among the top ten wealthiest countries in the world, and Google, Facebook, Microsoft, Apple, Intel, Citi, Fujitsu, and other high-performance firms have offices in Dublin, including Google, Facebook, Microsoft, Apple, Intel, Citi, Fujitsu, and others.
How Can I Invest in Ireland and Obtain Residency?
The Immigrant Investor Programme Ireland consists of four steps:
Application: To begin, you must submit an application without committing any funds for investing. Investors prefer this feature because it eliminates the need to deploy funds and make an investment before receiving residency permit approval.
Due Diligence: Your application is reviewed and approved by the Evaluation Committee. Please note that all applications are subject to anti-money laundering, Know Your Client, Politically Exposed Persons, and sanction checks as part of the due diligence process. Furthermore, officials are sharing data in accordance with the OECD’s uniform reporting criteria.
Investment: You go ahead and make an investment based on your accepted application.
Finally, you must demonstrate that you have made the investment.
To obtain an Irish passport, you must have lived in Ireland for at least one year prior to your citizenship application. In addition, you must have spent four of the previous five years in Ireland. So, these are some reasons why IIP attracts many investors.