Ireland introduced the idea of the Ireland Investment Immigration Programme in 2012 to allow non-EU/EEA people and their family members to get Irish citizenship. To get citizenship, one must make a sizable financial investment in Irish companies. This project aids in expanding employment opportunities and the Irish economy.
According to official documentation, investing in Ireland does not automatically bestow citizenship. Long-term residence in Ireland is provided, which is used to support citizenship applications in accordance with national naturalization laws through the best immigration lawyer in Ireland. Ireland Golden Visa is the name given to the investment visa for Ireland. Ireland citizenship through investment is only feasible through the acquisition of an Ireland Golden Visa.To qualify for the Irish Investment visa, a person must have a lawfully accumulated minimum net worth of € 2 million, or around Rs 14, 62, 40,100. The applicant must also be of excellent moral character and have no prior convictions or criminal histories elsewhere in the globe in order to qualify for a visa. Rules on whether investments are eligible for the Ireland Investment Program and who may apply for or obtain an Ireland Investment Visa are determined by the Irish Naturalization and Immigration Service (INIS) in conjunction with an evaluation committee.
Investment strategies that qualify a person for residency in Ireland will be certified by the Irish Immigrant Investor Program. According to the best immigration lawyer in Ireland, these permissible investments include:
- Investment in Irish businesses for at least three years totaling at least €1 million.
- An approved investment fund must have at least €1 million invested for at least three years.
- Real estate investment trust: At least €2 million invested for at least three years in one or more qualifying REITs.
- Donate at least €500,000 to a qualifying charity initiative in the fields of the arts, sports, health, culture, or education to establish an endowment.
Process for the Immigrant Investor Program in Ireland
Step 1: Locate a licensed immigration attorney in Ireland.
Step 2: Consult with a lawyer about citizenship and immigration alternatives in Ireland.
Step 3: Help your Irish immigration attorney collect all necessary supporting documentation.
Step 4: Submit an application to the Irish immigration authorities together with the necessary supporting materials, choosing one of the four investment alternatives. The application cost for the applicant and any accompanying family members, if any, is €1,500 and is non-refundable. Only during official intake "windows"—which happen five times a year and last around 25 days each—are applications accepted.
Step 5: Obtain the Immigration Ireland evaluation committee's acceptance of your application for an Ireland Golden Visa. The committee has been given permission to suggest that the Minister for Justice and Equality approve investment visa requests.
Step 6: The applicant must make the suggested investment and submit documentation of it when the Minister for Justice and Equality approves the proposal.
Step 7: Show proof of enough private health insurance.
Step 8: The Irish lawyer's submission of a certificate of good character. The police's declaration of good character in the original application is not the same as this criterion.
Step 9: Following formal confirmation of the investment, the applicant will be issued a two-year first resident permit in Ireland.
Ireland Long-Term Residency
Depending on the investment option they choose, investors can renew their residency permit after two years by providing proof that their investment has been kept up for the required holding time. The residency visa may be renewed for a further three years provided the investor's investment is still eligible, they are financially secure, of high moral character, and no charges of criminal behavior have been brought against them.
Citizenship through Investment in Ireland
The Ireland Immigrant Investor scheme was not a citizenship scheme; it was once a residence program. However, under the same conditions, one may petition for Irish citizenship. Immigrant investors may use the resident permit to assist them fulfil the residency requirements for Irish citizenship. The immigrant investors must have resided in Ireland for at least a year immediately prior to the application date and for four of the five years immediately prior to the application date in order to be eligible to apply for Irish citizenship by investment. "Residency" in this context refers to real physical presence in the nation. However, if a person travels outside the nation for both business and pleasure, they are still regarded as residents.
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