The Ireland Golden visa scheme officially known as Immigrant Investor Scheme (IIP) was introduced in April 2012 to encourage inward investment and create business and employment opportunities in the State. The programme provides foreign investors with the opportunity to invest in Ireland and that the investments are beneficial for Ireland, generate or sustain employment and are generally in the public interest.
This scheme requires €500,000 endowment to public charities or €1m invested in businesses or investment funds.
Since the launch, the irish golden visa scheme has attracted significant chinese investment and over 90% of millionaires investing in this scheme are chinese. This is not a citizenship by investment scheme as it offers only immediate permanent residency to investors.
Successful applicants under the Immigrant Investment Programme and their nominated family members may be granted a residence permission in Ireland under Stamp 4 conditions issued for five years. Stamp 4 conditions permit non-EEA nationals to work, study or start their own businesses in Ireland.
Why Ireland?
- Ireland is the only English speaking country in the Eurozone with multicultural society
- Beautiful, unspoiled countryside and scenery.
- Stable and highly globalised economy
- World class education and healthcare
- Highly developed country with best infrastructure.
- Corporate tax haven in Europe with significant presence of multinational corporations.
- Irish passport is 6th powerful passport in the world, much sought after passport due to Brexit.
What’s special about this scheme and what you should know that others dont tell you?
1. Endowment
Endowment reduced to EUR 400,000 (instead of EUR 500K) if you apply in a group. This makes it cheaper. The amount donated to charities must bring clear public benefit in arts, sports, health, cultural or educational field.
2. Education refund
Investors and family members get avail special education discount of upto €50,000 for academic study purposes in Irish University or Institute of Technology within first five years of their immigration permission.
Ireland has some of the best universities in the world offering top class education. The cost for education is relatively cheap, compared to US and Canada
3. Residence requirements
Just 1 day
4. Free movement
Ireland is a part of Common Travel Area (CTA) with the UK but opted out of Schengen area.
Even if you receive permanent residence permission, third country nationals or non-EU/UK citizens still need a visa to visit EU schengen states or United Kingdom. Chinese and Indians can use British Irish Visa scheme
5. Processing time
The processing time for applications by INIS takes 6-8 months due to Justice department tightening security checks with applicants.
6. Citizenship
After 5 years of uninterrupted living. If you dont live in Ireland enough time, you wont get citizenship.
7. Taxes
Ireland has low corporate tax rates 12.5% often labelled as corporate tax haven in Europe. Ireland shares bank account information of third country nationals with tax authorities with OECD list of countries. The list includes India, China.
