CLOSURE OF IRELAND’S GOLDEN VISA PROGRAM
In 2023, the Irish government terminated its Golden Visa program, making it impossible to acquire residency in Ireland through this investment method. The details provided below pertain to the program prior to its discontinuation.
OVERVIEW OF THE IRELAND GOLDEN VISA
Launched in 2012, Ireland’s Immigrant Investor Programme (IIP) was initiated to attract investors from outside the European Union by offering them a chance to obtain Irish residency. With an investment of at least €1.0 million in an Approved Investment Fund, the program was designed to draw investment and provide residency to business professionals with a track record of success. Enhanced in 2013, the Irish golden visa program targeted High-Net-Worth families looking for residency in Europe, appealing especially to businessmen, entrepreneurs, and those desiring high-quality education for their children at prestigious universities.
ADVANTAGES OF THE IRISH IMMIGRANT INVESTOR PROGRAMME (IIIP)
The IIIP offers numerous advantages, making it an appealing option for those contemplating a move to Ireland, a country recognized for its dynamic economy, career possibilities, and educational excellence. Ireland stands among the top ten richest countries globally based on GDP per capita.
For investors with children aiming to pursue higher education in Ireland, the programme offers a significant incentive: a €50,000 discount on the required investment amount. Ireland’s education system, conducted in English and home to some of Europe’s finest universities, presents unparalleled opportunities for students and graduates alike. Notably, Trinity College and University College Dublin, both located in Dublin, are among the top four European institutions for entrepreneur education. Moreover, Ireland’s position as a gateway to the EU market means graduates are sought after by many leading global corporations based in Ireland, including Google, Facebook, Intel, Twitter, Citi, Huawei, Pfizer, Takeda, Novartis, Trend Micro, and Fujitsu.
Main Advantages:
OBTAINING IRISH CITIZENSHIP THROUGH INVESTMENT
While Ireland does not offer a direct Citizenship by Investment program, investors who maintain full-time residency in Ireland for five years are eligible to seek Irish citizenship and an EU passport, according to the nation’s citizenship regulations. Achieving Irish citizenship grants the freedom to live, work, or study across the EU without requiring additional visas. Additionally, Ireland’s agreement with the UK through the Common Travel Area allows Irish citizens unrestricted movement within the UK.
The Irish passport ranks among the world’s most powerful, offering visa-free or visa-on-arrival access to 199 countries and territories globally.
For those aiming for EU citizenship but unable to commit to a five-year residency in Ireland, the Portugal Golden Visa program is recommended as an alternative.
IRELAND’S GOLDEN VISA INVESTMENT CRITERIA
To qualify for Ireland’s Golden Visa, candidates are required to invest a minimum of €1,000,000 in an endorsed fund, with the investment to be retained for a period of 3 to 5 years. The process for securing residency in Ireland is comparatively simple and efficient. Applicants must be non-EEA nationals and must provide: