Are you looking to come to Ireland under the Immigrant Investor Programme (IIP)

Shannons Solicitors has partnered with Covali Finance to provide a comprehensive one stop solution to getting your application submitted.

What is the Immigrant Investor Programme (IIP)

The Immigrant Investor Programme is open to non EEA nationals and their families who commit to an approved investment in Ireland. Approved participants in the programme and their immediate family members will be granted rights of residence in Ireland which will allow them to enter the state on multi-entry visas and to remain here for a defined period but with the possibility of ongoing renewal. The programme will facilitate participants, over time, in establishing a permanent relationship with Ireland.

Each application will be examined on its merits by an independent committee.

The investment has to be good for Ireland, good for jobs and in the public interest; the funds invested have to be legally acquired and owned by the investor ( i.e. not borrowed). The person has to be of good character.

 

In order to be considered for the programme the investor must propose an investment in one or more of the following categories:

Enterprise
investment
€1,000,000. One Million euro invested in an Irish Enterprise for between 3 and 5 years
Investment Funds €1,000,000 invested in an approved investment fund for a minimum of three years.
For further information please see links below.
Real Estate Investment Trusts A minimum investment of €2 million in any Irish REIT that is listed on the Irish Stock Exchange. The investment must be for a minimum of three years.
Endowment €500,000 philanthropic donation by an individual in a project of benefit to Ireland in the arts, sports, health, cultural or educational field.
€400,000 where 5 or more individuals pool their endowment for one appropriate project.

Residence permission granted to successful applicants: Successful applicants can expect to receive residence permission for five years. Initial permission will be granted for two years and following a review at that point to ensure the investor is continuing to meet the conditions of the scheme i.e. the investment has not been withdrawn, they continue to be law abiding and self-sufficient a further period of three years will be granted.

After this initial five year period, the investor will be free to apply for residence in five yearly tranches. The investor is not required to establish actual residence in Ireland. The Immigrant Investment Programme is about rights of residence that the investor may exercise as their business and family needs dictate. No minimum residence requirement is set other than the stipulation that the person should visit Ireland at least once in every twelve month period.

For further information please go to www.inis.gov.ie – click immigration permission

On left side click Schemes and Programmes.

Scroll down to Business and Investors click on Investor and Entrepreneur Schemes then you are into the Immigrant Investor Programme at the end there is a link to “guidelines for immigrant investor programme” and that gives you full details.

Please contact Noel Shannon at Covali Finance for further information on the above at noel.shannon@covalifinance.com to learn more information or discuss the programme in greater detail

You can also contact Vincent Shannon Solicitor at vincent@shannons.ie.  Vincent Shannon Lawyer can assist you in all your business and legal dealings in Ireland and throughout the EU.