Ireland has the fastest growing economy in the European zone and is one of the best countries to live and invest in. It has an excellent education system and is the only English-speaking country in the European Union. It attracts high-net value individuals to invest in an approved investment in the Irish economy with the exchange to obtain residency. The Irish government implemented the Immigrant Investor Programme, which makes it easier for foreign investors to obtain Ireland Citizenship. And although the programme does not offer a permanent residence, the investors can decide to become a tax-paying citizen once they meet the appropriate condition. The IIP Programme is designed to benefit business professionals and investors by providing them with residency status.
The Benefits Of This IIP Investor Programme:
- Since the investors can obtain complete residency in Ireland, they can access any place in the European Union. So, this Visa benefit is not only becoming a tax-paying citizen but also the accessibility to the entire European Union.
- Ireland is the only English-speaking country in the entire European Union. This is a great benefit for investors from other countries.
- The accompanying children of the investors are included if they are below 18 and 24 years of age, provided that they are not married. They should be completely dependent on the investor and should attend full-time education in Ireland.
- The applicant’s residency requirement is only one day a year, but if they want to become tax-paying residents, they can do so.
The Validity Of The Visa Provided:
When an applicant initially invests, the permit is valid only for two years, but it can be renewed further if the investment is being maintained. To renew the validity, not only do the investors have to maintain the investment, but they should also remain financially stable and be of good character. The applicants can first renew the permit for three years and then further to five years.
How Can An Investor Quality For Citizenship and Passport:
While the residency comes with validity for the investors, they can also obtain full-time citizenship and a passport. However, there are certain qualifications to be met to qualify for citizenship. To obtain citizenship, an applicant must be a resident of Ireland for the last twelve years. In addition to this, they should also be physically present in the country for the last four years. So, if you are an applicant and you qualify for these criteria, you can obtain citizenship and a passport. The passport provided has a validity of five years, but it can be renewed if the applicant meets the residency requirement.
How Long Does The Processing Time Takes:
The application process usually takes from four to six months; however, it can also take longer. The time taken to get the application approved usually varies depending on whether the evaluation committee requires more information from the applicant.
Investment Options For The Applicants:
One thing that applicants should understand is that they can only invest in investments officially approved by the Irish Immigrant Investor Programme. There are four options available to the investors, and they include Enterprise investment, approved investment fund, real estate investment trust, and endowment (donation option).
To be eligible for the Immigration through Investment, the applicant must be at least eighteen years of age, should be of good character, prove the minimum net worth requirement, and invest the minimum amount required each year. An applicant can be denied this opportunity if there is a misrepresentation and if they have been convicted of any criminal offense.
The IIP Programme presents an excellent opportunity for investors to obtain a visa and even full citizenship.