IRELAND IMMIGRANT INVESTOR PROGRAMME - IRISH PERMANENT RESIDENCY ADVICE - IN 2020
Ireland Investor Immigration - Background and Guide
The Republic of Ireland is an island in the North Atlantic, with a population of 4.8 million. Nestled in the heart of the country is a haven of picturesque villages, stunning tracks, trails and waterways and brilliant bars and restaurants.
Ireland has been a member state of the European Union since 1973. Permanent Residency under the Irish Immigrant Investor programme grants the right to move to Ireland and travel within the EU with minimal visa requirements and is the first step towards gaining Irish Citizenship.
The main objectives of the Irish Immigrant Investor Programme is job creation and facilitating Irish economic development. In 2020, High Net Worth Individuals can apply for the Irish Permanent Residency Permit through investment in a qualifying investment project. Apply for the Irish Golden Visa Residence Programme and seek Ireland Immigration assistance Now!
Ireland Immigrant Investor Programme - Investment Options
In 2012, the Immigrant Investor Programme (IIP) was introduced by the Irish Government to encourage inward investment for the creation of business and employment opportunities in the State.
The IIP is designed to encourage investors and business professionals from outside the European Economic Area (EEA) to take advantage of opportunities for investing and locating their business interests in Ireland and acquire a secure residency status
The IIP programme offers four investment options for potential investors:
1. Enterprise Investment - €1 million for 4-year investment term. Investment monies are invested through a Project approved by the Irish Naturalisation and Immigration Service (INIS) Investment monies are invested through the project against a secured property up to 90% Loan to Value.
2. Investment Fund - €1 million invested in an approved investment fund for 5 years (approved and regulated by the Central Bank). Investment monies are not secured on assets and are subject to investment performance.
3. Real Estate Investment Trusts (REIT) - €2 million invested in any Irish REIT that is listed on the Irish Stock Exchange for at least 3-year term.
4. Endowment - A minimum €500,000 philanthropic donation to a project which is of public benefit to the arts, sports, health, culture or education in Ireland.
Ireland Investor Immigration - Irish Residency - Eligibility Criteria
Applicant Investors must meet the following eligibility criteria:
A. High Net Worth Individuals - Applicants must be high net worth individuals, with a personal wealth of at least €2 million, and disclose in full the source of their funds.
B. Source of Funds - Investors must provide the necessary evidence to prove the origin of funds, as confirmed by an Accountant and a Lawyer. Acceptable source of funds include: Business and Investment activities, Deeds of Sale, Inheritance, Divorce.
C. Funds are Transferable - All funds must be available to transfer to Ireland and can be convertible into Euros at the time of the application being approved.
D. Due Diligence - All applications will be subject to enhanced levels of due diligence processes in respect of anti-money laundering, Know Your Client, Politically Exposed Persons, sanction checks, and data sharing in accordance with the OECD common reporting standard.
E. Character - All applicants, as well as their nominated family members over the age of 16 must submit their application with a statement of character from the police authorities of each country in which they have resided for more than six months during the 10-year period prior to making an application.
F. Family - A non-EEA national may apply under the IIP for permission for themselves and their spouse/civil partner and children under the age of 18 to reside in the State. Dependent children between the ages of 18 and 24 may also be considered if they are in full time education.
Irish Residency by Investment - Supporting Documentation for Enterprise Investment
To apply for the Enterprise Investment option, the Applicant must submit the following supporting documentation, which is apostilled by the Ministry of Foreign Affairs and the Irish Embassy in the
applicant’s country of residence:
1. Audited Accounts of Irish Business
- If the applicant is investing in an existing Irish business or is relocating a business to Ireland, s/he must submit the most recent audited accounts for that business in support
of the application.
2. Business Plan of Irish Business
- For investments in existing businesses, relocating business and new business proposals, the applicant should submit a comprehensive business plan, which clearly identifies the
financial investment being made in support of the application for residency under this programme.
3. Create or Maintain Employment in the Irish Business
- The business plan should indicate how the funds will help create or maintain employment in the busines.
4. Specify Investor's Equity and Return on the Investment
- The plan should also be clear as to the extent of the equity in the business being acquired by the investor and the manner in which the investor will receive a return on the
Benefits of Irish Permanent Residence
Outlined below are the benefits of applying for the Ireland Investor Visa to obtain Irish Permanent Residency:
- Irish Law Firm - We partner with experienced and specialised Irish Lawyers, working in reputable independent Ireland Law firms, who can assist with the Contract between the Project company and the Investor, and transfer of the investment to the Irish Lawyers' client account.
- European Union (EU) - Visa Free travel within European countries for non-EU nationalities. Member of the European Union since 1973 and uses the Euro currency since 1999 - access to 500 million people in Europe.
- Business Centre of Europe - European Headquarters of large corporates: Google, PayPal, LinkedIn, Facebook and Microsoft. Ireland is the largest exporter of computer software in the world, and one of the top 10 most innovative countries globally. Also, 9 out of 10 Pharmaceutical companies are based in Ireland, including Pfizer and Novartis.
- Investment Centre - Forbes Magazine has ranked Ireland as one of the best countries for business - multinationals and startups, as well as the 'Best country in Western Europe to invest'. Ireland has become a hub for foreign direct investment and is ranked as 1st in the world for investment incentives.
- Economic Growth - The Irish economy grew by 6.6% in 2017. In addition, Ireland is one of the top countries in the world for GDP growth.
- Lifestyle - Temperate climate, beautiful terrain, historic castles, walks, and fresh un-polluted air.
- Healthcare system - Excellent health care resources. For the purpose of the IIP, you must have private health insurance.
- World class Education system - There are seven public universities in Ireland, which rank highly on an international level, including Trinity College, Dublin (Ranked as number 1 University in Europe for educating and producing Entrepreneurs), and University College, Dublin.
- Safe Country and Central Location - Friendly people, multi-ethnic environment, and suitable place for family life. Situated in Europe and within 1 - 2 hours flight of many European countries.
- English Speaking Country - English is an official language, the Legal system is based on the British Common law and the government is a Constitutional Democracy.
- Dublin - The capital city of Ireland is Dublin, and it has excellent pubs, fine architecture and good shopping. Dublin is a very popular tourist destination and is the fourth most visited European capital.
- Fast Processing Time - The Irish Evaluation Committee processes a Permanent Residency application with 3 - 4 months.
- Easy Residence Requirements - The applicant must spend only a minimum of 1 day per calendar year in Ireland.
- Chinese Residents - Ireland is home to circa 35,000 Chinese families and 10,000 Chinese students (Source: Chinese Embassy Ireland).
- Irish Culture - The Irish have a rich culture and tradition, which is multi-faceted, and comprises Music, Dance, Art, Literature, Poetry, Folklore, Cuisine and Sports.
- Corporate Tax Rate - Low 12.5% corporation tax rate, which is half the OECD average of 24.9%.
- Irish Citizenship and Passport Eligibility - As an Irish Permanent Resident, you have the right, subject to meeting conditions, to apply for Irish Citizenship and an Irish passport following your physical presence in Ireland for a total of 5 years within an 8 year period.
Irish Project Company - FitzWilliam Group
Benefits of Project Company
VisaConnect partners with FitzWilliam Group, who are a very experienced and respected Irish Project Company, which has the following unique benefits for Investors:
1. Founded in Ireland in 1975
- Over the last 40 years, FitzWilliam Group have built a strong reputation for providing pro-active and efficient property services to a wide range of
clients and their professional representatives. Past and current clients include some of the world's most renowned brands, including:
2. Building and Maintenance company
- Marks & Spencer
- BNY Mellon
- Bank of Ireland
- Black Rock
- Our Project company Group has successfully undergone a controlled expansion
into all aspects of the property industry.
Services of Project Company
- Property development and construction services (complete delivery cycle A-Z)
- Serviced office space (one of Ireland’s leading providers)
- Property investment (commercial and residential specialists)
- Property management (day to day management and property maintenance)
- Asset management (maximising value of investment properties)
- Provider of turn-key primary medical care properties and social housing
- Immigration Investment (€43 million of investment pledged to date)
Project Boyne Village - Enterprise Investment
VisaConnect is promoting Boyne Village Project, which is a 'Social Housing Project' and has been pre-approved by the Irish Government, in June 2019, as a qualifying 'Enterprise Investment' project through the IIP.
Project Boyne - Summary
The Project Boyne Team are developing an 120 acre mixed use site known as ‘Boyne’ village which will incorporate Residential, Commercial, Parkland & Enterprise with phased completion expected between Q4 2020 and Q4 2023.
Under the Irish Immigrant Investor Programme, The Project Boyne Team have received approval for €30m of funding for the development of 150 Social Housing Units within the Residential aspect of Boyne Village.
Irish Government Approved Project
Project Boyne has been approved by the Irish Government as a qualifying investment project through the IIP.
Investment Terms - Project Boyne Village
1. Minimum Investment Amount
- €1 million Euros (Note: Monies do not have to be transferred until an application is approved by the Irish Naturalisation and Immigration Service).
2. Use of Investment Funds
- Monies invested in Project Boyne's Social Housing Project will be used for the
development of Social Housing at Boyne Village, Navan, Co Meath.
2. Security of Investment Funds
- Project Boyne Village assigns property-backed security to the Investors for the Investment Term. Project Boyne at a Loan To Value (LTV) of no more than 90% provides Investors security over a property, thereby securing Investor’s Funds (€1m).
3. Term of Investment
- 4 Years.
4. Return on Investment
- 0% per annum.
5. Recouping Investment
- After 4 years an Investor’s funds are projected to be returned within 12 weeks of the Investor calling on the funds.
6. No Language skills and Qualifications required
- This Immigrant Investor Programme has no English language skills or qualification requirements. In addition, the immigrant investor does not require business management experience.
Why Invest in Project Boyne's Social Housing Project?
- FitzWilliam Group (The Irish Project Company) has been a trusted promoter of the Irish Immigrant Investor Programme since 2012
- The Project company have constructed over 500 Residential Units with a further 1,000 Residential Units in development
- Investor monies (€1m) are secured by means of a legal ‘First Charge’ on property for the term of the investment. A ‘Red Book’ Property Valuation prepared by a member of the Society
of Chartered Surveyors Ireland will be provided for this purpose
- The Project company have established links with high ranking government officials in various departments of the Irish government and Chinese Embassy
- The Project company possesses a comprehensive knowledge of the application procedure and the requirements of the INIS
- The Irish Project Team and VisaConnect's Consultants can facilitate an introduction to our recommended legal, accounting, medical, educational and other professional partners in Ireland
Benefits of Enterprise Investment vs Investment Fund option
Approved Investment Fund
|| €1 million
|| €1 million
|Annual Management / Subscription Fee
|| 4 Years
|| 5 Years
|Return of Investment monies (€1 million) subject to performance of investment
|| Yes (High Risk!)
|Investment monies secured on a property at a maximum of 90% LTV by means of a Redbook Property Valuation prepared by a member of the Royal Institute of Chartered Surveyors
|Fund provides Senior Debt to Hotels and Student Accommodation
|| Yes (High Risk in 2020!)
|Repayment of €1 million Funds back to Investors?
|| Yes (12 Investors - as at July 2020)
|| No Repayments
Endowment - Investment Option
VisaConnect is promoting high quality Endowment projects, which are over €2m, in order that the endower can avail of the reduced endowment of €400,000
as opposed to paying €500,000 for a smaller project.
The applicant is entitled to residence as soon as the application is approved by INIS and the applicant then travels to Ireland to complete their residency registration.
IIP Endowment Project in 2020 - Beaumont Hospital Foundation's - PET/CT Scanner
Our current Endowment Project is seeking 13 Investors (€5.2 million) for the funding of Beaumont Hospital Foundation's - PET/CT Scanner. Today, Beaumont Hospital does not have one the most fundamental and vitally
needed imaging machines - a PET/CT Scanner, which is pioneering technology that is now standard technology in any comparable hospital in Ireland or around the world. Currently patients must travel to another hospital to avail of the nearest PET/CT Scanner,
this dependent and problematic arrangement will become increasingly insecure as demand continues to increase while external supply diminishes.
This PET/CT scanner device is the most critical imaging tool in the diagnosis and management of cancers, cardiac problems, neurological challenges like Epilepsy and Dementia and other
serious conditions. Investors who select this Endowment Project to achieve their Irish residency can rest assured that their contribution will transform the care and treatment for an entire generation of seriously ill patients.
Application Process - Endowment
1. Document Preparation
- VisaConnect asssists Investor to prepare application documentation.
2. Submit Visa
- Submission of the visa application to INIS during the next available Window.
3. Pre Approval
- Application approved and 'Pre-Approval Letter' is issued by INIS to the Investor.
4. Transfer of Investment
- Investor transfers €400,000 to their Irish lawyers Client Account and then minies are transferred to Beaumont Hospital's Irish Lawyer.
5. Full Approval
- Confirmation that Endowment monies have been donated, and then 'Full Approval Letter' is issued by INIS.
6. Apply for Irish Residency Permit
- Investor applies for 'D' type Single entry visa to Ireland, and then attends INIS HQ, in Ireland and applies for Irish Residency Permit.
Irish Immigrant Investor Programme - Project Approval and Successful Cases
For approved projects under the IIP, our Irish Project Company (FitzWilliam Group) has a 100% success rate with the Irish Naturalisation & Immigration Service. Investors who choose our Social Housing Project are guaranteed approval under the IIP
subject to their application paperwork being in order.
As at 1 October 2020, 67 Investors associated with FitzWilliam Group's projects have successfully received their Letters of Approval under the Irish Immigrant Investor Programme. Our partner Irish Company have started the process of repaying the original investors their investment monies, and the first Investor was repaid in August 2019. As at 1 October 2020, 18 Investors have been repaid in full
with the most recent Investor, repaid in September 2020.
Contact VisaConnect's Consultants for Ireland Immigrant Investor Programme Assistance
IRELAND PERMANENT RESIDENCY BY INVESTMENT - IRISH INVESTOR VISA ADVICE
IRELAND RESIDENCY - REPAYMENT OF FUNDS TO INVESTORS! IRISH IMMIGRANT INVESTOR PROGRAMME ADVICE - LAST UPDATED: October 2, 2020