Irish Residency by Investment: The Complete Guide

The Irish Investment Fund

Investors can choose to commit €1 million to an Approved Investment Fund. These Investment Funds have received approval for participation in the Immigrant Investor Programme from the Irish Naturalisation and Immigration Service, and they operate under the regulation of the Central Bank of Ireland. The key criteria for these investments are as follows:

1. Ireland-Centric: All funds must be invested within Ireland and should represent equity stakes in Irish registered companies that are not publicly traded on any stock exchange.
2. Regulated Fund Managers: Both the funds themselves and the fund managers must be regulated by the Central Bank to engage in business activities in Ireland.
3. Expert Fund Management: Only fund managers with a proven track record in managing regulated funds will be accepted to oversee investments within Ireland.

The Terms of the Investment

Successful Investor Applicants are required to invest €1,000,000 for a period of 5 years and six months. In return, the Investor, along with nominated family members, is granted Residency Permission for Ireland. This permission allows for unrestricted movement within Ireland and the United Kingdom.

Sterling Migration: Crafting Tailor-Made Solutions

At Sterling Migration, we specialise in delivering fully customized solutions designed to cater to your unique needs and preferences. Our comprehensive service package includes:

Initial Compliance Checks:

We undertake the essential initial compliance checks, ensuring that all prerequisites are met and your application is well-prepared.

Efficient Application Submission:

We meticulously compile and submit your application to the Irish Naturalisation and Immigration Service (INIS), facilitating a smooth and efficient process.

Initial Approval Acquisition: 

Our expert team works diligently to secure your initial approval, a crucial step in the immigration journey.

Strategic €1 Million Investment: 

You invest €1 million into the chosen fund, carefully selected to align with your objectives.

Visa Grant: 

Following a successful application, you will be granted your initial visa, marking a significant milestone in your immigration process.

€1 Million Return:

After a five-year period, you will have the opportunity to recover your €1 million investment, offering financial security and peace of mind.

Sterling Migration is committed to providing you with a seamless and hassle-free experience as you embark on your journey to Irish residency and beyond.

Investment Flexibility in Ireland

In Ireland, foreign nationals have the flexibility to choose from various investment options to secure their residency. These options include:

1. Investment in Irish Enterprises:

• Minimum Investment: €500,000
• Investment Duration: At least three years
• Business Types: Can invest in one or multiple Irish enterprises, including new or existing companies, as long as they are registered and headquartered in Ireland.

Eligible Business Proposals:

• High Potential Start-Up ventures with innovative products or services targeting international markets.
• Capable of generating 10 jobs in Ireland and achieving €1 million in sales within three to four years.
• Led by an experienced management team.
• Headquartered and controlled in Ireland.
• Less than six years old.

Note: This scheme is not intended for businesses in retail, personal services, catering, or similar sectors.

2. Investments in Cultural, Sporting, Educational, or Health Areas:

• Investment Amount: Variable, depending on the nature and industry of the investment.

This unique feature allows investments in various sectors that contribute to culture, sports, education, or health.

Start-Up Entrepreneur Programme:

• Investment: A “good business idea” and funding of €70,000.
• Job Creation: No specific minimum job creation requirement for Irish workers.

This option is designed for foreign investors with innovative business ideas to contribute to the Irish economy.

These investment pathways allow foreign nationals to pursue Irish residency based on their specific investment interests and goals. Ireland welcomes diverse investments, supporting economic growth and the unique contributions these investments can bring to the country.

Investing in Property for Irish Residency

Another option available to foreign nationals seeking Irish residency is to invest in property. This route involves a combination of investing in residential property and immigrant investor bonds, as follows:

Investment Structure:

• Minimum Investment in Residential Property: €450,000
• Investment in Immigrant Investor Bonds: €500,000

Residency Application Process:

Once the investment in property and bonds has been made and documented, the foreign national and their family can apply for permanent resident permits in Ireland. These permits are typically valid for a total of five years, with approvals occurring at two different increments.

Review and Extension:

• After being a resident for two years, the Irish immigration authorities will review the investment to ensure it still meets the conditions of the visa program.
• If the investment continues to meet the conditions, the residence permit will be extended for an additional three years.

Renewal of Permanent Residence:

• Subsequently, the investor can extend their permanent residence in five-year increments.

This option provides a pathway to Irish residency for foreign investors looking to invest in both property and immigrant investor bonds, offering long-term stability and flexibility in residency status.

Ireland’s Promising Investment Opportunity

Ireland presents an attractive investment opportunity, and despite being a relatively new scheme, it is poised to become the leading investment program within the European Union. Ireland’s program has already demonstrated remarkable growth over the past five consecutive years.

Key Advantages of Ireland’s Investment Program:

• Ireland is a dedicated member of the European Union.
• No language requirement—investors are not obliged to learn English.
• Minimal residency requirement of just one day per year.
• Full return of the invested funds.

Investor Requirements:

To participate in Ireland’s investor visa program, investors must meet the following criteria:

• Possess good character and have no criminal convictions in any jurisdiction.
• Make a minimum investment of €1 million.
• Demonstrate a minimum net worth of €2 million.

These requirements, coupled with the program’s benefits, make Ireland an appealing destination for investors seeking residency and investment opportunities within the European Union.

Immigrant Investor Programme Application Guidelines

Verification of Funding Sources

Source of Funds

Regardless of whether the funds are held in a financial institution regulated by the Central Bank of Ireland or overseas at the time of application, it is imperative to establish the lawful source of the required €2 million.

We will assess the legitimacy of funds from the following sources:

i) Business and Investment Activities

If the funds originate from the applicant’s business and investment activities, the applicant must submit financial accounts along with a verification letter from a registered legal adviser authorized to practice in the country where the applicant’s business activities are conducted. This letter must confirm the lawful withdrawal of funds from the business.

The financial accounts should include a profit and loss account or income and expenditure account if the organization is not trading for profit. They must be prepared and signed in accordance with legal requirements and clearly indicate:

• The verification letter, an original document from a legal adviser permitted to practice in the country where the applicant’s business activities are conducted, must confirm the applicant’s lawful right to withdraw funds from the business. The letter should include:
  • The legal adviser’s name confirms the details.
  • The legal adviser’s registration or authority to practice in the country where the business operates.
  • The date when the details were confirmed.
  • Confirmation of the applicant’s lawful right to withdraw funds from the specified business.

ii) Deeds of Sale

For funds originating from the proceeds of asset sales, the applicant should provide original sale deeds along with a verification letter from a registered legal adviser authorized to practice in the country where the sale occurred.

In the event that funds are generated from such sales, INIS requires deeds of sale for assets like businesses or properties, specifically for this application. These should be accompanied by a confirmation from a registered legal adviser permitted to practice in the country where the sale occurred, attesting to the authenticity of the sale and the availability of funds to the applicant. All deeds of sale must adhere to the relevant legal requirements of the country where the sale occurred. As a minimum requirement, the deed of sale document must include:

• The applicant’s name.
• The monetary value of the sale.
• The date of the sale.

If registration on an official public register in the country of sale is mandatory, a copy of the relevant registration should also be submitted.

The verification letter, an original document from a legal adviser permitted to practice in the country where the sale occurred, must clearly indicate:

• The legal adviser’s name confirms the details.
• The legal adviser’s registration or authority to practice legally in the country where the sale was conducted.
• The date of the sale.
• The date when the letter confirming the sale was produced.
• Details of the item sold and the amount of money received from the sale, net of any mortgages or other loans.
• The recipient’s name and the date of the fund transfer.
• Confirmation that the sale was valid in accordance with the laws of the country where it occurred.

iii) Inheritance

If the applicant has benefited from an inheritance, enabling their application, a notarized copy of the will granting this benefit should be submitted, along with a verification letter from a registered legal adviser authorized to practice in the country where the will was created, confirming its validity. If the applicant has received assets instead of money, estimates of the asset values will not be accepted as evidence of funds for investment.

The will should include:

• The will’s date.
• Identification of the applicant as a beneficiary.
• The amount of money inherited by the applicant.
• The names of any executors and any codicils (additions) to the will affecting the received amount.

The verification letter should be an original document from a registered legal adviser authorized to practice in the country where the will was created and must clearly indicate:

• The legal adviser’s name confirms the details.
• The legal adviser’s registration or authority to practice legally in the country where the will was created.
• The date of the document produced by the legal adviser confirming the will.
• The date when the applicant received the money as a result of the will’s settlement (assets or possessions cannot be considered for qualifying investments).
• The names of the person creating the will and the beneficiaries.
• Confirmation of the amount of money received by the applicant.
• Confirmation that the will is signed and valid.
• Confirmation that the will is valid in accordance with the laws of the country where it was created.

iv) Divorce Settlement

If the applicant has obtained the necessary funding through a divorce settlement, a notarized copy of the financial agreement following the divorce must be provided, along with a letter from a registered legal adviser authorized to practice in the country where the divorce was granted. In cases where the applicant has received assets or possessions rather than money, estimates of the item values will not be accepted as evidence of funds available for investment.

The verification letter, in the form of an original document from a registered legal adviser authorized to practice in the country where the divorce was granted, must clearly state:

• The legal adviser’s name confirms the details.
• The legal adviser’s registration or authority to practice legally in the country where the divorce was granted.
• The date of the document produced by the legal adviser confirming the divorce settlement.
• The date when the applicant received the money as a result of the settlement.
• The names of the individuals who were divorced.
• Confirmation of the amount of money received by the applicant.
• Confirmation that the divorce settlement is comprehensive and valid.

Note: If the required funding originates from a source not mentioned above, original documentation as evidence of the funding source must be provided, along with independent supporting evidence. Under no circumstances will a loan provided to the applicant for the purpose of making an IIP application be considered an appropriate source of funding.

Irish Citizenship Eligibility Criteria

To be eligible for Irish citizenship as a foreign investor, certain criteria must be met, including:

1. Good Moral Character:

The investor should demonstrate good moral character, which typically means having no criminal convictions.

2. Continuous Residence:

The applicant must have resided continuously in Ireland for at least one year before submitting the citizenship application.

3. Intent to Reside:

The applicant must intend to continue residing indefinitely in Ireland for the foreseeable future.

4. Declaration of Allegiance:

As part of the citizenship process, the investor is required to make a declaration of allegiance to Ireland, pledging loyalty to the country and committing to observe its laws and values.

Meeting these eligibility criteria is essential for foreign investors seeking Irish citizenship through the immigrant investor program.

Historical Free Travel Agreement Between Ireland and the UK

Since 1921, a longstanding free common travel agreement has been in place between Ireland and the United Kingdom. This agreement operates independently of any European Union involvement and holds precedence over subsequent legislation. In straightforward terms, it grants residents of Ireland the freedom to travel to the United Kingdom without the necessity of presenting a passport.

This advantageous arrangement allows Irish residents, who are also part of the European Union, to enjoy unrestricted access to London and other regions within the United Kingdom, facilitating seamless travel between these two countries.

• Fully committed to being part of Europe
• The Irish economy is the fastest growing in the Eurozone and is the 6th most competitive economy in the world
• Ireland has been named the best country in the world for attracting high-value foreign direct investment for six years in a row
• Only English-speaking country in the Eurozone – and, following Brexit, the only English-speaking country in Europe
• Ireland has the youngest population in Europe, with one third under 25 years and almost half the population under 34
• Ireland’s education system is amongst the top 10 globally

Investors can gain a €50,000 reduction in the amount needed for investment if they have children who wish to attend university in Ireland. The benefits of a full education in Ireland are attractive. English-speaking and offering some of the best universities in Europe, Ireland offers unique opportunities for students and for graduates. Two of the top four universities in Europe for educating entrepreneurs are based in Dublin, namely Trinity College and University College Dublin. In addition, due to its access to the EU market, graduates are welcomed by many of the world’s top companies with headquarters in Ireland.

Graduates from Trinity College Dublin founded more companies than any other European university graduates over the last five years. Two of the top 4 universities in Europe for educating entrepreneurs are in Dublin.

• Irish universities are in the top 1% of research institutions in the world in terms of research impact
• Ireland is ranked 2nd in Chemistry
• Ireland is ranked 2nd for Nanotechnology
• Ireland is ranked 3rd for Animal and Dairy
• Ireland is ranked 3rd for Agricultural Sciences
• Ireland is ranked 4th in Mathematics
• Over 5,000 internationally recognised qualifications are available to study