The Irish Immigrant Investor Programme (IIP) is a government-run program designed to attract foreign investment and stimulate economic growth in Ireland. The program allows high-net-worth individuals and their families to obtain Irish residency by making a substantial investment in Ireland. Here’s what you need to know about the program:
Qualifying for the IIP
To qualify for the IIP, applicants must have a net worth of at least €2 million and be willing to make a minimum investment in one of the following approved investment categories:
- Investment in an Irish enterprise: This option involves making a direct investment of €1,000,000 in an Irish-based business.
- Investment in an approved fund: This option involves investing €1,000,000 in an approved Irish-based investment fund, such as a venture capital fund or an enterprise investment fund.
- Endowment: This option involves making an endowment of €500,000 (or €400,000 if the project has at least 5 immigrant investors) for philanthropic projects in Ireland.
- Investment in a Real Estate Investment Trust (REIT): This option involves making a minimum investment of €2 million in an approved Irish REIT. REITs are a type of investment fund that owns and manages income-generating real estate properties.
In addition to meeting the investment requirements, applicants must have a clean criminal record and provide proof of their net worth and the source of their wealth. The Irish Naturalisation and Immigration Service (INIS) also carries out a due diligence process on all applicants.
Benefits of the IIP
Once the investment is made, the applicant and their family can be registered as Irish residents, which allows them to live, work, and study in Ireland. After five years of holding a residence permit, the applicant and their family can apply for citizenship under certain conditions.
It is important to note that the Irish Immigrant Investor Programme is subject to change, and it’s recommended to consult with an immigration lawyer or consultant to confirm the current regulations and requirements for the program, as well as any updates or amendments that may have been made to the program. Additionally, the success of this program depends on the Irish economy and the government’s policies toward immigration and investment, which may change over time.
Investing in Ireland through the Irish Immigrant Investor Programme can be a beneficial opportunity for high-net-worth individuals and their families, providing them with the chance to become Irish residents and potentially citizens while contributing to the growth of the Irish economy.
