Ireland is now the only English-speaking country left in the European Union after Brexit. Being a gateway to the rest of Europe, the country has been attracting high-net-worth non-EU citizens with the Investor Immigrant Program (IIP). Since the launch of the program in 2012, IIP has attracted over €850 million to Ireland.
Most of the applicants for the IIP are from China. According to the statements from the Irish Ministry of Justice, over 1,000 Chinese citizens have acquired Irish residency until now. The applicants who go through a successful application process get the right to live, work, and study in Ireland. The applicants are also eligible to add their dependent family members to the program. US citizens are the second largest group applying for the IIP.
Majority of the HNW Investors Opt for Enterprise Investment
Ireland IIP offers four different investment options. Investors can either,
- Invest €1 million in an Irish enterprise,
- Invest €1 million in investment funds,
- Invest €2 million in Real Estate Investment Trusts,
- Donate €500,000 to a project which is beneficial to Ireland.
Enterprise investment has been the most popular choice until now.
Making the Investment After Pre-Approval Is a Huge Incentive
Ireland IIP stands out from other residency programs with its investment requirement. Most Golden Visa schemes require investment to be made before the application. However, with the Ireland IIP, the investment is made once the authorities approve your application. This is one of the significant benefits of the program.
Another incentive is the “one-day stay requirement”. Once you get your Irish residence permit, you’re eligible to keep it by spending only 1 day per calendar year in Ireland. This is good for investors who have business interests outside the country.
Ireland Attracts HNW Families With A High-Quality Life
Ireland ranks second on the Human Development Index with the quality of life it offers. The country has improved infrastructure, a developed healthcare system, and rich culture.
Ireland is also home to many colleges and prestigious universities. Investors can benefit from a discount up to €50,000 on their investment for any educational expenses they’re planning to commit to in Ireland.
IIP Opens a Path to Irish Citizenship
One other advantage of IIP Ireland is that it paves the way to citizenship after a minimum five-year residency in the country. As Ireland is a part of the EU, it creates a big opportunity for non-EU citizens. If you become eligible to get Irish citizenship, you’ll also have the right to live and work in the United Kingdom, too.