31 Aug 2021
The Irish Immigrant Investor Programme (IIP) allows for non-EU Investor/Applicants to apply for Irish Residency through making an INIS approved investment.
WHY LIVE AND WORK IN IRELAND?
- • Safe and friendly location for family life
- • Air quality and food products are considered world class
- • World renowned education system for students of all ages
- • Excellent location to establish a base for a European business
- • Ireland has extensive transport links to Europe and the rest of the world
- • Temperate climate
- • Private healthcare system is relatively inexpensive
- • Multi ethnic populace and sparsely populated living environment
- • Neutral country and the 12th most peaceful country out of 163 nations to live. (20 Global Peace Index)
- • Irish citizens are free to travel, live, work or be educated in any European Union state
- • European Union (EU) - Visa Free travel within European countries for non-EU nationalities. Member of the European Union since 1973 and uses the Euro currency since 1999 - access to 500 million people in Europe.
- • Business Centre of Europe - European Headquarters of large corporates: Google, PayPal, LinkedIn, Facebook and Microsoft. Ireland is the largest exporter of computer software in the world, and one of the top 10 most innovative countries globally.
The IIP programme offers four investment options for potential investors:
1. Enterprise Investment - €1 million Euros for 4-year investment term. Investment monies are invested through a Project approved by the Irish Naturalisation and Immigration Service (INIS) Investment monies are invested through the project against a secured property up to 90% Loan to Value.
2. Investment Fund - €1 million Euros invested in an approved investment fund for 5 years (approved and regulated by the Central Bank). Investment monies are not secured on assets and are subject to investment performance.
3. Real Estate Investment Trusts (REIT) - €2 million Euros invested in any Irish REIT that is listed on the Irish Stock Exchange for at least 3-year term.
4. Endowment - A minimum €500,000 Euros philanthropic donation to a project which is of public benefit to the arts, sports, health, culture or education in Ireland.
IIP ELIGIBILITY CRITERIA
Applicant Investors must meet the following eligibility criteria:
A. High Net Worth Individuals - Applicants must be high net worth individuals, with a personal wealth of at least €2 million Euros, and disclose in full the source of their funds.
B. Source of Funds - Investors must provide the necessary evidence to prove the origin of funds, as confirmed by an Accountant and a Lawyer.
C. Funds are Transferable - All funds must be available to transfer to Ireland and can be convertible into Euros at the time of the application being approved.
D. Due Diligence - All applications will be subject to enhanced levels of due diligence processes.
E. Character - All applicants, as well as their nominated family members over the age of 16 must submit their application with a statement of character from the police authorities of each country in which they have resided for more than six months during the 10-year period prior to making an application.
F. Family - A non-EEA national may apply under the IIP for permission for themselves and their spouse/civil partner and children under the age of 18 to reside in the State. Dependent children between the ages of 18 and 24 may also be considered if they are in full time education.
ENTERPRISE INVESTMENT TERMS – PROJECT BOYNE VILLAGE – SOCIAL HOUSING PROJECT
1. Minimum Investment Amount - €1 million Euros (Note: Monies do not have to be transferred until an application is approved by the Irish Naturalisation and Immigration Service).
2. Use of Investment Funds - Monies invested in Project Boyne's Social Housing Project will be used for the development of Social Housing at Boyne Village, Navan, Co Meath.
3. Security of Investment Funds - Project Boyne Village assigns property-backed security to the Investors for the Investment Term. Project Boyne at a Loan To Value (LTV) of no more than 90% provides Investors security over a property, thereby securing Investor's Funds (€1m).
4. Term of Investment - 4 Years.
5. Return on Investment - 0% per annum.
6. Recouping Investment - After 4 years an Investor's funds are projected to be returned within 12 weeks of the Investor calling on the funds.
7. No Language skills and Qualifications required - This Immigrant Investor Programme has no English language skills or qualification requirements. In addition, the immigrant investor does not require business management experience.
ENDOWMENT OPTION – PROJECT PAIRC TAILTEANN STADIUM
The Endowment option will facilitate investors who wish to actively engage in philanthropy and who wish to champion projects that benefit the public at large. It is the most straightforward option and once the endowment is made no further financial obligation is required under the Immigrant Investor Programme.
VisaConnect is promoting high quality Endowment projects, which are over €2m, in order that the endower can avail of the reduced endowment of €400,000 as opposed to paying €500,000 for a smaller project.
Our current IIP Endowment Project - Pairc Tailteann Sports Stadium was officially approved by the Department of Justice on the 21st December 2020. The Project is seeking 32 Donor places (€12.8 million) for the re-development of Pairc Tailteann Sports Stadium in Navan, Co. Meath.
Applicants choosing this Endowment Project to achieve their Irish residency can rest assured that their valued contribution will have both positive social and cultural impacts. It will provide stimulus to local communities across the region where the GAA has proven to be an important asset over many years. The re-developed Sports Stadium once completed will provide future generations with suitable facilities for the modern era.
VISACONNECT – AUTHORISED IRISH IIP AGENTS
VisaConnect are specialist Immigration Agents and we partner with the Irish Project Company to provide assistance and advice in applying for our INIS approved Enterprise Investment or Endowment projects, in order to obtain an Irish Residency Permit, under the Irish Immigrant Investor Programme.
See our web page for more information:
Ireland Residency - Irish Immigrant Investor Programme