As the Republic of Ireland’s domestic economy is forecasted to remain “robust” in the coming years, now is an excellent time for investors to consider the Ireland Investor Immigrant Programme (IIP). The Economic and Social Research Institute (ESRI) predicts that modified domestic demand will grow by 3.5% this year and 4% next year, indicating a healthy and expanding economy.
Despite risks such as “stubbornly high” core inflation and signs of weakening export performance, the Irish government is striking a balance in its budget between spending its large surplus without stoking inflation. ESRI projects a surplus of €9.8 billion this year and €15.5 billion next year, as the government reaps a corporation tax windfall.
The coalition government has committed to setting up a sovereign wealth fund to invest much of this windfall, with the expectation of personal tax cuts in the budget. The Irish Fiscal Advisory Council advises the government to adhere to its self-imposed spending rules to “avoid overheating the economy or increasing reliance on unreliable tax receipts.”
Ireland’s Minister for Justice, Helen McEntee, recently announced that her department had received 1,492 applications for the IIP so far in 2023, up from 1,316 applications for the entire 12 months of 2022. Despite the closure of the program, applications already submitted are still being processed. International investors still have a chance to join the Irish strong market with IIP. The applicants may need a more professional team to navigate the IIP application process, such as working with Eterna International with years of experience in the IIP.
The IIP offers foreign investors a unique opportunity to obtain Irish residency by investing in the country’s economy. The program provides several investment options, such as enterprise investment, investment funds, real estate investment trusts, or endowment contributions.
By participating in the IIP, investors can benefit from Ireland’s robust economy, contributing to its continued growth and development. The country’s attractive business environment, skilled workforce, and strong export sectors make it an ideal destination for entrepreneurs and investors alike.
The Ireland Investor Immigrant Programme presents an excellent opportunity for investors to establish a foothold in a thriving economy and enjoy the benefits of Irish residency (Stamp 4). With the Irish economy projected to remain strong and the IIP application numbers on the rise now is the perfect time for interested investors to explore this promising opportunity.