Ireland: Residence by Investment

Ireland Residence by Investment 2024

Ireland’s Residence by Investment program, also known as the Immigrant Investor Programme (IIP), offers non-EEA nationals the opportunity to secure long-term residency in Ireland through significant financial investments. Launched in 2012, the program is designed to attract high-net-worth individuals who are willing to invest in the Irish economy, thereby contributing to economic growth and job creation.

Break Front has team of legal experts that can guide you through the process.

Country Info

Population: Approximately 5 million (as of 2023).

Economy: Ireland has a highly developed, trade-dependent economy with strong sectors in pharmaceuticals, technology, financial services, and agriculture. GDP is around $500 billion with a growth rate of 5.0% in 2023.

Official Languages: Irish (Gaelic) and English.

Geographic Position: Located in Western Europe, occupying most of the island of Ireland, with Northern Ireland (part of the UK) to the north.

Currency: Euro (EUR)

Life Quality Index

Safety Index: 70.5 (High)

Healthcare Index: 74.3 (High)

Cost of Living Index: 76.5 (High)

Pollution Index: 27.2 (Low)

Climate Index: 88.7 (High)

Traffic Index: 39.4 (Moderate)

Property Price Index: 61.3 (High)

Investment routes

Ireland's Immigrant Investor Programme (IIP) - Investment Options

Enterprise Investment:
- Amount: Minimum of €1 million.
- Details: Investors can invest in an Irish enterprise for a minimum of three years. The business must be registered in Ireland, and the investment must support the creation or maintenance of jobs in the country.
Investment Fund:
- Amount: Minimum of €1 million.
- Details: This option allows investors to invest in an approved investment fund. These funds must be regulated by the Central Bank of Ireland and focus on projects that contribute to the public good, such as social housing or renewable energy.
Real Estate Investment Trusts (REITs):
- Amount: Minimum of €2 million.
- Details: Investment in Irish REITs listed on the Irish Stock Exchange. These investments must be held for at least three years and are aimed at providing income through dividends from property investments.
Endowment:
- Amount: Minimum of €500,000.
- Details: This non-refundable donation supports projects of public benefit in areas like arts, sports, culture, or education. This option is lower cost but doesn't provide a financial return.

These investment routes offer different paths depending on your financial capacity and interest in actively participating in Irish economic and public life. Each option is designed to contribute to the economic and social development of Ireland while providing a route to residency for investors and their families.

Requirements

To qualify for Ireland's Immigrant Investor Programme (IIP) and secure residency through investment, applicants must meet the following requirements:

1. Financial Requirements

Minimum Net Worth: Applicants must demonstrate a minimum net worth of €2 million. This ensures the investor has sufficient financial means to make the required investment and maintain themselves in Ireland.
Investment Amount: Depending on the chosen investment route, the required investment ranges from €500,000 for an endowment to €2 million for investment in Real Estate Investment Trusts (REITs).

2. Eligible Investments

Enterprise Investment: Invest at least €1 million in an Irish enterprise for a minimum of three years.
Investment Fund: Invest at least €1 million in an approved investment fund, regulated by the Central Bank of Ireland, for a minimum of three years.
Real Estate Investment Trusts (REITs): Invest at least €2 million in Irish REITs, listed on the Irish Stock Exchange, for a minimum of three years.
Endowment: Make a non-refundable donation of at least €500,000 (or €400,000 per person for group investments of 5 or more) to a project of public benefit in areas such as arts, sports, health, culture, or education.

3. Residency and Due Diligence

Residency: While there is no minimum residency requirement to maintain the investment, the applicant must intend to reside in Ireland as part of the application process.
Background Check: Applicants must pass a detailed due diligence and background check, ensuring that the invested funds are legally sourced and that the applicant has no criminal record.
Proof of Funds: Documentation proving the origin of the funds used for investment is required, demonstrating that the funds are lawfully acquired and belong to the applicant.

4. Family Inclusion

Family Members: The application can include the investor’s spouse/partner and dependent children under 24 years of age. These family members will receive the same residency rights as the principal applicant.

5. Application Submission

Application Form: Complete and submit the official application form along with all required supporting documents.
Processing Time: Applications are typically processed within 6 to 9 months, though this can vary depending on the complexity of the application and the volume of applications being processed.

These requirements ensure that only qualified and committed investors are granted residency under Ireland’s IIP, supporting the country’s economic and social objectives.

Ireland Benefits

Choosing Ireland’s Immigrant Investor Programme (IIP) offers several significant benefits for investors and their families. Here are the key advantages:

Pathway to Permanent Residency and Citizenship

Long-Term Residency: The IIP provides a secure route to long-term residency in Ireland, with an initial two-year residency permit, renewable for three more years. After five years, investors can apply for permanent residency.
Pathway to Citizenship: After five years of residency, investors and their families can apply for Irish citizenship, which grants EU citizenship, allowing free movement, work, and study across all EU member states.

Family Inclusion

Family Benefits: The IIP allows investors to include their immediate family members (spouse/partner and dependent children under 24 years) in the application. Family members enjoy the same residency rights and access to public services, including healthcare and education.

No Minimum Stay Requirement

Flexibility: Unlike many other residency programs, the IIP does not require a minimum stay in Ireland to maintain residency status, providing flexibility for investors who need to travel frequently or maintain residences in other countries.

High Quality of Life

Living Standards: Ireland offers a high standard of living, with excellent healthcare, education, and a stable and secure environment. It is consistently ranked as one of the best countries for quality of life.
Education System: Ireland is home to world-class educational institutions, making it an ideal place for families with children or young adults pursuing higher education.

Access to the EU Market

Business Opportunities: As a member of the European Union, Ireland provides investors with access to the entire EU market, which is one of the largest and most lucrative markets globally. This can be particularly advantageous for those looking to expand their business operations or investments within Europe.

Tax Advantages

Favorable Tax Regime: Ireland offers a favorable tax regime for individuals and businesses, including a corporate tax rate of 12.5% on trading income, which is one of the lowest in Europe. Additionally, Ireland has an extensive network of double taxation treaties with over 70 countries.

Political and Economic Stability

Stable Environment: Ireland is known for its political and economic stability, which provides a secure environment for investment. The country has a strong, open economy with a well-regulated financial system.

English-Speaking Country

Ease of Communication: As an English-speaking country, Ireland offers ease of communication, making it an attractive destination for investors from English-speaking countries or those who prefer conducting business in English.

Networking Opportunities

Business Network: Ireland is a hub for multinational companies, particularly in the tech, pharmaceutical, and financial sectors. This offers investors access to a vibrant business community and numerous networking opportunities.

These benefits make the Irish Immigrant Investor Programme a compelling option for high-net-worth individuals seeking residency in a stable, prosperous, and strategically located EU country.

Required documents

When applying for the Irish Immigrant Investor Programme (IIP) in 2024, applicants need to submit a comprehensive set of documents to ensure their application is complete and meets all the requirements. Below is a list of the required documents:

1. Application Form

Completed and Signed Application Form: The official application form for the IIP, filled out in full and signed by the applicant.

2. Personal Documents

Passport: A valid passport for the principal applicant and each family member included in the application. Copies of all relevant passport pages showing personal details, visas, and entry/exit stamps.
Photographs: Recent passport-sized photographs of the applicant and family members.
Proof of Residence: Documents that show your current place of residence, such as utility bills or a lease agreement.

3. Financial Documentation

Proof of Net Worth: A statement demonstrating that the applicant has a minimum net worth of €2 million. This should include details of assets and liabilities, such as property deeds, bank statements, and valuation reports.
Proof of Funds: Evidence showing the source of the funds intended for investment, including bank statements, sale agreements, or other documentation that confirms the legal source of the funds.
Investment Confirmation: Documents proving the commitment to the chosen investment option, such as an agreement to invest in an enterprise, fund, REIT, or endowment.

4. Background and Legal Documents

Police Clearance Certificate: A police clearance certificate or equivalent document from the applicant’s country of residence, confirming no criminal record.
Due Diligence Report: Depending on the investment route, a detailed due diligence report may be required to verify the legitimacy of the funds and the applicant’s background.
Curriculum Vitae (CV): A detailed CV of the principal applicant, outlining educational and professional background.

5. Family Documentation (if applicable)

Marriage Certificate: If the spouse or partner is included in the application, a certified copy of the marriage certificate or proof of partnership.
Birth Certificates: Certified copies of birth certificates for each dependent child included in the application.
Proof of Relationship: Documents proving the relationship between the principal applicant and other family members included in the application.

6. Additional Supporting Documents

Business Plan (for Enterprise Investment): A detailed business plan if applying through the enterprise investment route, outlining how the investment will be used and its potential impact on the Irish economy.
Investment Fund Agreement: If investing in an approved fund, include the investment agreement and any documentation from the fund manager.
Endowment Agreement: If choosing the endowment option, include a formal agreement detailing the donation to the public project.

7. Health Insurance

Health Insurance: Evidence of comprehensive health insurance coverage for the principal applicant and all family members, valid in Ireland.

8. Proof of Payment

Application Fee Receipt: Proof of payment of the non-refundable application fee, which must be included with the submission.

9. Legal Representation

Power of Attorney: If applicable, a power of attorney document authorizing a legal representative to act on behalf of the applicant.

All documents must be submitted in English or accompanied by certified translations if they are in another language. It’s crucial to ensure that all documentation is accurate, complete, and up-to-date to avoid delays or issues in the application process.

Tax system

Income Tax

Personal Income Tax: Ireland employs a progressive income tax system with two main tax bands:
- Standard Rate: 20% on income up to a certain threshold.
- Higher Rate: 40% on income above this threshold.
Universal Social Charge (USC): This is a separate tax applied to gross income, with rates ranging from 0.5% to 8%, depending on the level of income.
Pay-Related Social Insurance (PRSI): Contributions made by both employers and employees that fund social welfare benefits. The employee rate is generally 4%.

Corporate Tax

Standard Rate: Ireland is well-known for its competitive corporate tax rate, which is set at 12.5% on trading income. This low rate has made Ireland a favored location for multinational companies.
Non-Trading Income: Income that does not arise from a trade (e.g., passive income, interest, royalties) is taxed at a rate of 25%.
Research & Development (R&D) Tax Credits: Companies can benefit from a 25% tax credit on qualifying R&D expenditures, which can be used to offset corporate tax liabilities.

Value-Added Tax (VAT)

Standard Rate: The standard VAT rate in Ireland is 23%.
Reduced Rates: There are reduced rates of 13.5% for services like tourism and hospitality, and 9% for certain goods and services, including newspapers and some forms of energy.
Exemptions: Certain goods and services, like financial services and educational activities, are exempt from VAT.

Property Taxes

Local Property Tax (LPT): This is an annual tax charged on the market value of residential properties. The rate varies depending on the value of the property and the local authority area.
Stamp Duty: This is a tax on the transfer of property, typically charged at a rate of 1% on properties up to €1 million and 2% on amounts above €1 million.

Capital Gains Tax (CGT)

Rate: The standard rate of CGT in Ireland is 33%. This tax applies to the gain made on the disposal of assets, such as property or shares.
Exemptions: There are exemptions for certain disposals, like transfers between spouses or civil partners.

Capital Acquisitions Tax (CAT)

Rate: CAT is charged at a rate of 33% on gifts and inheritances.
Thresholds: There are tax-free thresholds that depend on the relationship between the giver and the recipient. For example, children receiving gifts or inheritances from parents have a higher tax-free threshold compared to more distant relatives.

Double Taxation Treaties

Network: Ireland has an extensive network of double taxation treaties with over 70 countries, aimed at reducing the tax burden on individuals and businesses operating internationally.

Environmental Taxes

Carbon Tax: Ireland imposes a carbon tax on fossil fuels such as oil, gas, and coal, aimed at reducing carbon emissions. The rate is currently €41 per tonne of CO2 emitted.

Recent Reforms and Updates

Budget Adjustments: The Irish government regularly reviews and adjusts tax rates and bands through the annual budget process, reflecting economic conditions and policy priorities.

Why choose Break Front?

Global expertise with local insight: A team of seasoned local case executives, immigration lawyers, and investment specialists.

Independent service: We are not affiliated with any marketing agencies or specific projects. You’ll have access to all eligible Golden Visa options, allowing you to choose the best path for your needs, supported by the legal due diligence services of a reputable law firm.

High approval rate: We pride ourselves on our high approval rates while having successfully assisted hundreds of clients from over 25 countries.

Comprehensive support: Our dedicated onboarding and immigration teams guide you through the entire process, providing a seamless experience with a single point of contact.

Transparency: Our fees are clearly outlined and comprehensive, with no hidden costs involved in the entire process.

Privacy: Your personal information is securely stored in a GDPR-compliant database.

Ireland: Residence by Investment