Republic of Ireland Investment Immigration

Investment immigration by definition is where by the applicant is required to invest a set amount of money into the country he seeks residency in, thus providing him with the right to gain permanent residency status. Each jurisdiction has different requirements to satisfy in order to qualify for permanent residency and it is important to understand the requirements and restrictions of your preferred jurisdiction.

Why Immigrate to the Republic of Ireland

Seeking residence in the Republic of Ireland can be highly beneficial depending on where the applicant will be living. Although Dublin is ranked as one of the most expensive cities in the world to live in, towns and villages in other Irish regions have been nominated as some of the cheapest to reside in. The Republic of Ireland’s minimum wage level has risen in recent years (2007) and is set to rise again. Furthermore, employment rates are good and working conditions can be attractive in the right industry. With a strong political and legal framework, the Republic of Ireland has become a prominent location for foreign nationals seeking residency.

Republic of Ireland Residency Permit

A residency permit in the Republic of Ireland is known as a ‘Business Permission’. The Minister for Justice and Equality provides a written statement of permission for the applicant to engage in business activities in Ireland. On approval of the business permission, the applicant is also eligible to live in Ireland.

Who requires Business Permission?

Business permission is required by all Non EEA nationals who intend to run a business in Ireland.

Conditions to satisfy to obtain Business Permission

Although technically the business permission program is available to anyone, the applicant has to meet the following conditions to be approved. The Business Permission must result in:

- The applicant investing a sum of at least 300,000 EUR into Ireland
- The creation of a minimum of 2 job opportunities for EEA nationals for a new project in Ireland
- The additional benefit of commercial activity and competitiveness to Ireland
- The provision of a viable business plan and trading proposal to enable the applicant to support himself and his dependants without utilizing the state’s social security

Applicants seeking business permission are required to have a valid passport, a good character and must refrain from any illegal intent.

The minimum investment is not necessary where the applicant can demonstrate:

• He has been a resident in Ireland (legally) for a minimum period of 5 consecutive years as an employee
• He has been a resident for 5 years and not been in breach of any laws
• The Minister of Justice, Equality and Law Reform must be satisfied that your residency visa application is compliant with EEA regulations

Required legal documents for the application of Business Permission include:

• Applicant’s valid passport
• Applicant’s registration certificate (this is a document which entitles you to legally be registered in Ireland as a resident)
• A statement of character obtained from the police authorities in every country the applicant has lived in for more than 6 months in the previous 10 years
• A valid business plan which needs to be authorized by an accountancy firm of other certified financial institution

You will be given a decision within one month of the date on which the Department of Justice, Equality and Law Reform acknowledges receipt of the required documents.

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