The residency program in Ireland for investors was developed back in 2012. Over the past 5 years, its conditions have become a little more loyal in terms of the amount of necessary investments.
In 2017, you can obtain Irish citizenship for investments by investing in public funds, local companies or real estate. Each of these directions has its own characteristics. How to obtain a residence permit in Ireland in a general manner and for investment, with the prospect of acquiring citizenship, will be discussed further.
Emigration from anywhere in the world to the country of constant downpours is possible in one of the following directions. Each of them implies investing in the local economy, but in different ways and on different terms:
- 500 thousand euros to an Irish legal entity or a special fund (in agreement with local authorities) for a period of 3 years.
- 1 million euros in state assets for a period of 5 years at 0%.
- 2 million euros to a special real estate investment fund.
- 500 thousand euros as a charitable contribution. This amount can be reduced by submitting an application collectively. Then each investor may have 400 thousand euros.
- Simultaneous contribution: 500 thousand euros in assets and 450 thousand — investments in real estate in Ireland.
After 3 years, you can withdraw half of the initial contribution made to the Fund or securities. At the end of the fourth year — another 25%, the fifth year — the remaining 25%. In addition to the main applicant, a spouse and children under 18 years of age can participate in one investment program without the need for additional contributions. Children from 18 to 24 years old can also be included in the application if they are not married and depend financially on the investor.
Before moving to the Emerald Isle, it is necessary to prepare the following documents:
- domestic and foreign passports;
- marriage and birth certificates;
- statement from the current account, which should have the amount required for investment;
- documents confirming the origin of funds;
- credit history documents;
- certificates of absence of criminal records and tax arrears;
- medical insurance.
The sequence of actions of the investor is as follows:
Submission of the documents listed above (must be translated and apostilled) and an immigration application to the Evaluation Committee. Consideration of such applications takes place 4 times a year — in February, May, September and December.
If a positive decision is made, the applicant is issued a migration visa.
Next, you need to move to the island. Before obtaining a residence permit, it is necessary to fulfill all the requirements of the Immigration Department.
After making the necessary amounts in the chosen direction, a resident card is issued for a period of 2 years. It gives the right to live, study and find employment.
After 2 years, you can extend your residence permit for another 3 years. The main condition is the preservation of investor status and an annual visit to the country — it is not necessary to live here all the time.
After a total of 5 years, you can get permanent residence in Ireland. There is no need to make additional funds.
After 3 years of residence in the permanent residence status (a total of 8 years from the date of issuance of a residence permit), you can get a passport of a citizen of an island state. But to do this, it is necessary to meet the general requirements regarding the residency qualification: to live continuously in the country for the last year, and a total of 4 years for the last 8 years.
A separate purchase of real estate cannot be considered as a basis for issuing a residence permit to a foreigner. A resident’s card is issued only if the following conditions are met: the purchase of housing in the amount of 450 thousand euros and the investment of 500 thousand euros in securities or an Irish company. Moreover, the property should be used for its intended purpose (for living). You can’t rent it out.