Ireland’s Immigrant Investor Programme (IIP) offers several compelling benefits for high-net-worth individuals and families seeking residency or citizenship options in Europe. Despite the closure of the program, applications already submitted are still being processed. Recent data shows the application amount for the IIP till June of 2023, is even more than the total applicant amount for the entire of 2022.
Let’s explore 5 major advantages of the IIP:
Flexible Residency Requirements
The IIP has highly flexible residency requirements compared to other countries. Investors only need to be physically present in Ireland for 1 day per calendar year to maintain residency status. This minimum requirement provides ample flexibility for investors to continue conducting business, managing investments, and spending time with family globally while retaining Irish residency.
Recent data shows that in 2022, Ireland received 1316 IIP applications, with Chinese nationals making up the majority. The high application rate despite COVID-19 travel restrictions demonstrates that investors strongly value the programme’s flexible residency terms. With easy-to-meet requirements, investors can focus on their global business and interests while keeping their Irish residency status.
Clear Pathway to Citizenship
A vital feature of the IIP is the clear pathway it offers investors to attain full Irish and European Union citizenship. After maintaining the programme’s residency conditions for 5 years, investors become eligible to apply for Irish citizenship.
Citizenship grants extensive rights across the EU, including the freedom to live, work, study, and conduct business across all 27 member states. It also gives the right to vote in Ireland and EU elections. For investors seeking long-term settlement and integration in Europe, the IIP’s pathway to an EU passport is a major incentive.
Furthermore, Irish citizenship provides visa-free travel and work without permits in the UK, offering greater flexibility, opportunity, and ease of travel. The Common Travel Area Treaty (CTA) between the UK and Ireland continues to be an important foundation of their relationship. Irish citizens can live, work, and study in the UK without visas or permits, and are entitled to use the National Health Service (NHS) and access social benefits. The CTA also allows for mutual recognition of qualifications, and Irish citizens can vote in certain UK elections.
Global Mobility and Visa Access
As an approved residents of Ireland, IIP investors enjoy expansive global mobility and visa-free access to key business and leisure destinations.
IIP participants can freely travel across all EU member states for tourism, business, healthcare, education, and other purposes. They also gain visa-free entry to major global economies including the UK, US, Canada, Australia, New Zealand, Japan, Singapore, and more. In total, IIP residents can access 173 countries worldwide without requiring a visa in advance.
This level of global access rivals top citizenship and residency by investment programmes worldwide. It allows investors to manage their international business activities and personal interests seamlessly.
High-Quality Education System
Gaining Irish residency also opens the doors for investors’ families to access Ireland’s world-class education system. Ireland is home to globally ranked universities including Trinity College Dublin, University College Dublin, and the National University of Ireland.
Ireland offers excellent international school options. Ireland has over 30 private international schools teaching various global curriculums. This provides flexibility for families to choose schooling options suiting their needs. Educational continuity for children is a major factor investors consider in seeking long-term residency abroad.
Ireland has become a premier destination for higher education is the alignment of courses with career opportunities, resulting in a low unemployment rate of less than 5%. With its quality of education, affordability, and robust employment opportunities, it is no wonder that Ireland has become a top choice for international students looking to pursue higher education.
Strong Investment Options
The IIP offers investors several approved investment options including Enterprise Investment, Investment Funds, REIT Investment, and Endowment Donations. The required minimum investment is €1 million, providing solid investment choices.
The Enterprise Investment option allows investment into Irish businesses across sectors like pharmaceuticals, medical devices, IT, and financial services. The Investment Fund option offers a more passive approach to investing in regulated funds focused on Irish assets and industries.
Considering the Investment Fund option, social housing and primary care centers are typically good investment projects because they are essential services that have a stable demand. Social housing and primary care centers are considered good investment projects because they address the basic needs of the population.
Eterna International’s commitment to assisting clients with alternative project options, we are actively promoting the GCI ICAV fund, an innovative fund designed to raise capital from investor immigrant programme (IIP) applicants to finance the construction of new social housing in Ireland. The GCI ICAV fund is an excellent opportunity for foreign investors looking to obtain Irish residency while supporting a worthy cause.
Ireland’s Immigrant Investor Programme provides a complete and flexible package and a clear path to EU citizenship. With multiple investment choices, the programme remains an attractive option for high-net-worth individuals and families considering European residency and citizenship.
