Ireland with its epic mountain peaks, magnificent coastlines, lofty lighthouses and rich greenery, is a beautiful country.
It offers Golden Visas that allows nationals from other countries to acquire Irish Citizenship. The Ireland Golden Visa is a residence-by-investment program that allows individuals to live in Ireland those who can invest €1 million in investment fund or an Irish company or donate €500.000 to a charitable organization. The investment must be kept for a minimum of 3 years. The government of €50,000 can deduct from the entire investment to spend on an education establishment in Ireland. The application fee for this visa is €1,500.
Ireland Golden Visa Investment Options
Investors can choose from the four below investment options:
Under this scheme you have to invest at least €500,000 in a public-benefit initiative in the fields of the arts, recreation, wellness, culture, or education. The Endowment should be viewed as a charitable gift with a direct public profit. There will be no cash return or principal recoupment for investors from this investment.
Under this scheme you need to invest at least €1,000,000 in a financial venture, These funds have been authorized by the Irish Naturalization and Immigration Service for use in the Immigrant Investor Programme. All funds must be invested in Ireland and reflect equity stakes in Irish-registered businesses that are not publicly traded. Second, to do business in Ireland, funds and fund managers must be supervised by the Central Bank of Ireland. Finally, only fund managers with a track record of successfully managing managed funds would be permitted to order funds in Ireland.
Under this scheme you have to invest at least €1,000,000 in a single Irish business or a group of companies for a period of three years. The business may be a start-up founded by the investor or an existing Irish-registered company. The company must be licensed and headquartered in Ireland, and the investment must contribute to the development or preservation of jobs of the Irish citizens working in those companies.
Under this scheme you have to invest at least €2,000,000 in an Irish REIT that is listed on the Irish Stock Exchange. The money could be spread out among a variety of Irish REITs. A REIT is a publicly-traded corporation that invests in rental properties. It is an internationally recognized benchmark for rental property asset investment.
After three years’ you can withdraw 50% of your investment, 25% on 4th and 25% on 5th.
Process of Ireland Golden Visa
The processing time for this application of the Ireland Golden Visa takes 3-4 months
Step 1 – Month 1
Select your investment option and gather the necessary documents. Send your application to the INIS once you’re ready. The Evaluation Committee will review your paper. The Evaluation Committee may consider the proposal and, if necessary, will request additional details from you.
The Minister of Justice and Equality will receive recommendations from the Evaluation Committee. To review applications for residency under the Immigrant Investor Program, the Evaluation Committee meets at least four times. Applications are evaluated based on your profile, the project’s economic feasibility, the planned investment’s job outcomes, and the overall value to the Irish state.
Step 2 – Month 4
You and your family members will receive a pre-approval letter encouraging you to continue with your investment after the Evaluation Committee and the Minister for Justice and Equality has accepted your investment proposals. Within 90 days of the date of this message, the investment must be made. When the acquisition is complete, you must send the documentation about your particular investment to the minister.
Step 3 – Month 5
When the Minister is satisfied that the investment has been undertaken, an approval letter that will grant you and your family a residence permit. This permit valid for two years from the date of issue of the letter. After two years you can extend your resident permit further for two years.
Terms & Conditions for Ireland Golden Visa Program
A series of requirements must be fulfilled to qualify and apply for Ireland Immigrant Investor Programme. Below are the requirements for obtaining Residency by Investment in Ireland.
If you are interested in the endowment option you should describe how the beneficiary will use the funds and how your endowment will support the Irish public. Here, you or the receiving organization should adapt the business plan template found on the Immigrant Investor Program webpage for it.
The investor needs to have a net worth of €2 million to be qualified to apply for this program.
No Criminal Record
You and your family members over the age of 16 must request a declaration of character from the police authorities of each country where they lived for more than six months in the past ten years before applying. Applicants who have due diligence reports from credible multinational risk assessment and security screening organizations are encouraged to submit them.
Health Insurance Coverage
You and your family members must have private medical insurance that will cover all major medical expenses in Ireland.
If you are considering to apply for your Ireland Golden Visa under the Enterprise Investment Option you should have copies of financial statements for at least three of the previous six months for all of your bank accounts. Also, you need to furnish three separate proof of residency for each year of residence asserted.
If you are considering to apply for your Ireland Golden Visa under the REIT option you need to show the number of shares indicated on the share certificate(s) that would be considered the Investor’s REIT Investment for the Immigrant Investor Programme.
The unmarried children below 25 years of age are considered dependent if they are still dependent on their parents financially. And they can be included in the application for Ireland Golden Visa.
The initial resident permit issued to you is valid for two years. It can be extended further for three years, if the scheme’s requirements are met (i.e. the investment has not been revoked, they are both law-abiding and self-sufficient). You are not a financial burden on the government of state of Ireland. In no jurisdiction have you been investigated, indicted, or prosecuted for any criminal offence. For the investor visa to stay valid, you must spend at least one day a year in Ireland.
To get Ireland permanent residency by investment, you need to fulfill below requirements:
- Residency Requirement: You need to show that you have been holding the permanent residency for 5 years.
- Financial Requirements: Copies of bank statements for all of your bank accounts for at least 3 of the previous six months. Three different proofs of residence for each year of residency claimed.
- Clean Police Record: You and your nominated family members over the age of 16 must request a declaration of character from the police authorities of each country where they lived for more than six months in the ten years before applying.
- Residence Requirements: A minimum of 5 years of residency is required you to become eligible for apply for Irish citizenship. You must prove that you have been a legal resident of the state for at least 1,825 or 1,826 days in the last nine years. This requires a minimum of 365 days of continuous residency immediately preceding the application deadline.
- Financial Requirements: Copies of bank statements for at least three of the previous six months for all of your bank accounts. For each year of residence asserted, three separate proofs of residency are needed.
- Criminal Record: You and your nominated family members over the age of 16 must apply a declaration of character from the police authorities of each country where they lived for more than six months in the ten years previous to making the citizenship application.
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