The Immigrant Investor Programme is open to non-EEA nationals and their families who commit to an approved investment in Ireland.
Approved participants in the Programme and their immediate family members will be granted rights of residence in Ireland which will allow them to enter the State on multi-entry visas and to remain here for a defined period but with the possibility of ongoing renewal.
The Programme is designed to facilitate participants establishing a permanent relationship with Ireland.
Each application will be examined on its merits in a qualitative examination by an independent interdepartmental committee. The objective of the investment programme is to encourage investment that is good for Ireland, good for jobs and in the public interest. The funds being invested have to be legally acquired and owned by the investor.
They cannot be borrowed funds and very importantly, the person has to be of good character.
In order to be considered for the programme the investor must propose an investment in one or more of the following categories:
• Enterprise investment
€1.0 million invested in an Irish Enterprise for 3 years
• Investment Funds
€1.0 million invested in an approved fund
€500,000 philanthropic donation by an individual
(€400,000 where 5 or more individuals pool their endowment for one appropriate project).
Residence Permission is granted to successful applicants
Generally speaking successful applicants can expect to receive residence permission for 5 years. An initial permission will be granted for two years. This will then be reviewed to ensure the investor is continuing to meet the conditions of the scheme. In other words, if the investment has not been withdrawn and the person continues to be law-abiding and self-sufficient, a further period of 3 years will be granted.
After this initial 5 years period, the investor is free to apply for residence in 5 year tranches. The investor is not required to establish actual residence in Ireland. The Immigrant Investment Programme is about rights of residence that the investor may exercise as their business and family needs dictate. No minimum residence requirement is set other than the stipulation that the persons concerned should visit Ireland at least once per calendar year.
There are four steps to the Immigrant Investor Programme
Applications are made initially without committing any investment funding, on the basis of one investment options
Each application is considered in detail by an Evaluation Committee
Only when the proposal is approved are the investment funds then committed
When the funds have been invested the Investor and nominated family members, will be issued with permission to Reside in Ireland
This is only a very brief synopsis of the scheme. Further information is available at the Department of Justice and Equality website.
At Hughes Murphy Solicitors we are uniquely placed to offer expert advice
on all aspects of the Immigrant Investor Programme. To learn more, call
us on 1800910 912 or submit our Contact Form to receive a call back.