The Immigrant Investor Programme aims to encourage investment in Ireland from talented foreign nationals. The programme is open to non-European Economic Area nationals and their families and aims to provide potential investors with a permanent link to Ireland.
Investors whose business ideas are approved for entry into the scheme will be granted visas for entry to Ireland over a defined period. However, these visas may be renewed at a later date. The families of successful investors will also be granted visas.
It is important to note that the investment must be good for Irish business and jobs and it must be in the public interest. The funds used in any investment must have been legally acquired and must not be borrowed. Covali will support applications only for the schemes listed below:-
1. Immigrant Investor Bond:
€1 million invested in the bond at zero interest rate.
2. Investment Fund:
€1 m invested in an approved fund.
3. Enterprise Investment:
€1 m invested in an Irish Enterprise for 3 years
4. Real Estate Investment Trusts (REIT):
A minimum investment of €2 million in any Irish REIT that is listed on the Irish Stock Exchange. The €2 million investment may be spread across a number of different Irish REITs.
€500,000 philanthropic donation by an individual (€400,000 where 5 or more individuals pool their endowment for one appropriate project).
Successful applicants will be granted residency in Ireland for 5 years. This will be subject to an initial review after two years to ensure the investor has not withdrawn their investment and that the venture is making satisfactory progress. If this review is successful, the investor will be granted residency for another three years.
Investors can then apply to have their residency renewed every 5 years. The investor is not required to be permanently resident in Ireland, nor does he or she need to be present in Ireland to manage their venture. The investor need only visit Ireland once every 12 months. The programme also allows for an investor’s family to receive visas, making the Irish Immigrant Investor Programme a much more attractive option than any equivalent scheme around the world.