The investment-based immigration program of Ireland is amongst the latest programs globally launched in 2012. Ireland classifies its program into 2 broad divisions similar to other programs in Europe: the Start-Up Entrepreneur Program and the Immigrant Investor Program.
The approved investors along with the spouse and single minor children are offered 5 years’ Irish Residency under the Ireland Investor Visa. This is renewable after a period of 2 years.
Ireland intends to encourage a specially designed Government Bond with low interest under the Investor Visa. Applicants who choose this option are required to make an investment of minimum 1,000,000 in these Bonds.
Investing in property is another option for overseas investors. They can opt for investing at least 450,000 Euros into a residential property. This is along with combining investment of 500,000 Euros into the Bonds for immigrant investors.
The Ireland Investor Visa also has a unique feature. Investments in Health, Education, Sports, or Cultural areas will also be accounted for offering immigration benefits. Significantly, no specified amount is needed for the investment.
The amount considered to be necessary will rather be based on the investments’ nature and the industry to which it will be dedicated. The Government of Ireland has however stated that the amount required usually is in the range of 2,000,000 Euros to 500,000 Euros.
The overseas national, as well as family members can apply for the Permanent Resident Visa after the investment has been made and recorded. The PR Visas will usually have a validity of 5 years and approval occurs at two different stages
The Immigration Authorities in Ireland review the investment after the investor stays for 2 years. This is to ensure that the investment continues to fulfil the requirements of the Investor Visa. If it continues to fulfil the conditions, the Visa will be extended for an extra 3 years. Later, the PR Visa can be extended by the investor once in 5 years.