The Immigrant Investor Programme (IIP) of Ireland also known as ‘Golden visa’ was first introduced in April 2012 to encourage inward investment and create business and employment opportunities in the State. The programme provides investors with the opportunity to invest in Ireland. Key to the programme is that the investments are beneficial for Ireland, generate or sustain employment and are generally in the public interest.
The Ireland Immigrant Investor Programme (IIP) provides non-EEA nationals with a number of options to invest in Ireland, and successful applicants are granted a permission to reside in Ireland for a fixed period.
Eligible Investments
Investors who wish to undertake one of four eligible investments in Ireland and must demonstrate of good character and also have minimum net assets of €2 million euros.
- Endowment (€500,000)
- Investment Fund (€1 million euro)
- Real Estate Investment Trusts (€2 million euro)
- Mixed Investments (€2 million euro)
The Immigrant Investor Programme (IIP) is open to non-EEA nationals who commit to an approved investment in Ireland. The Immigrant Investor Programme requires a minimum investment of €500,000, from the applicants own resources and not financed through a loan or other such facility, which must be committed for a minimum of three years.
Processing Times
INIS introduced a number of enhanced control mechanisms which has led to a temporary increase in processing times, as the new processes are bedded in. All applications from 2018 have been subject to detailed examination and a final decision on this application is expected shortly.
Successful applicants under the Immigrant Investment Programme and their nominated family members may be granted a residence permission in Ireland under Stamp 4 conditions. Stamp 4 conditions permit non-EEA nationals to work, study or start their own businesses in Ireland.
Applicant Checks
All applications are subject to enhanced levels of due diligence processes in respect of both personal and financial checks to protect the State’s interests.
The INIS expects that, in 2019, processing times for applications will be between 6-9 months.
If an applicant seeks to rely on loaned funds for the purposes of an IIP application, the application will be refused.
The Irish Naturalisation and Immigration Service (INIS) has introduced a number of enhanced control mechanisms which includes personal and financial checks, which has led to temporary increase in processing times, as the new processes are bedded in. Applicants and sponsors are subjected to Department of Justice and Equality due diligence processes including:
- Anti-Money Laundering (AML)
- Know Your Client (KYC)
- Politically Exposed Persons (PEPs)
- Sanction checks.
Applications are only accepted by INIS for five window periods and the last intake is 25 Oct 2019 .
Citizenship
IIIP investors and their family members can become Irish citizens after spending five years of living in Ireland. Irish passport is one of the best and highly respected travel documents in the world.
