Ireland IIP

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Ireland Immigrant Investor Programme (IIP)

Latest Update on Ireland IIP Visa (April 2023)

The Irish Immigration Service has announced to close the Immigrant Investor Programme (IIP) from 15 February 2023. 

However, the closure of the IIP will not affect existing projects already approved under the programme. Existing approved projects, including Enterprise investment and donations, will have a buffer period and applicants can still be accepted within that period.

We still have a small number of Immigrant Investor Programme projects approved by the Irish Government. If you are interested in applying, please contact us as soon as possible to discuss further.

Current available projects (April 2023)

  • Endowment project 
  • Community & Recreation Centre 
  • Location: Boyne Village 
  • Donation amount: EUR 400,000  
  • The endowment funds will be used for constructing a community and recreation centre for the local community. 
  • Enterprise Investment project 
  • Primary Care Centre 
  • Location: Navan, Co. Meath  
  • Investment amount: EUR 1M
  • This development site has obtained Irish  government’s planning permission, it will be building a 6th Floor Primary Care Centre and leased to the Irish Government on a long term lease.  

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Requirements

The Immigrant Investor Programme (IIP) offers a residency status in Ireland for high net-worth individuals who wish to invest in Ireland. 

The advantages of this visa are the short processing time, secure investment options, no language or education requirements and flexible residency requirement.

Eligible Applicants

  • Main applicant must be over 18 years old
  • Dependent Spouse/Partner and children under 18 years of age
  • Adult dependent children between the ages of 18-24, unmarried and in full time education

Financial Requirements

In order to qualify for the IIP, the applicant must have a minimum net worth of €2million and provide the details of source of funds. It can be in the form of property, investments, cash and so forth.

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Ireland Investment Overview

The applicant must invest within 90 days upon receiving the pre-approval letter from the Irish Naturalisation and Immigration Services (INIS). The applicant must choose one of the following permitted investment options below:

A minimum endowment of €400,000 is required in an Irish public project benefits the arts, sport, health, cultural, or educational field. Once the endowment is made, no further financial obligation is required under the IIP programme.

A minimum investment of €1.0 million into a new of existing Irish business for a minimum period of three years. This can be a new or existing business that is registered and headquartered in Ireland and the investment must support the creation or maintenance of employment.
A minimum investment of €1.0 million in an approved investment fund for a minimum of three-years. The fund must be invested in an Irish registered company and the fund must be regulated and approved by the Central Bank of Ireland.
A minimum investment of €2 million invested in any Irish REIT, which is listed on the Irish Stock Exchange for a minimum of three-years.

Residency Requirements

  • For Permanent Residency
    • both applicant and dependents must have spent at least 1 day per calendar year in Ireland.
  • For Irish Citizenship (Passport)
    • Live in Ireland legally for 5 years out of the last 9 years before citizenship application for naturalisation
    • Have 1 year continuous reckonable residence in the  before the date of your application 
    • During the 8 years before that, have had a total reckonable residence in the State of 1,460 days* (4 years)
    • Reckonable residence: If you leave for more than 6 weeks in one year, you should not count this period when you are calculating your reckonable residence.

Application Documents

  • Valid passport
  • Hong Kong ID card
  • Marriage certificate
  • Birth certificate
  • Certificate of No Criminal Conviction (CNCC)
  • Application form
  • Evidence of source of net-worth
  • Due Diligence report
  • Property and/or Asset Valuation Report (if any)

Visa Benefits

  • IIP application is simple in terms of visa requirements. There is no English language or required level of education and no interview required.
  • Applicants can obtain permanent resident status – must spend only 1 day in each calendar year after visa granted and the standard approval time is only 4-6months.
  • IIP offers secure investment options to investors. Applicants only have to invest in the investment options after receiving the approval letter.
  • Both applicant and dependents are permitted to live work and study freely in Ireland
  • Children will have free access to state primary and secondary school in Ireland. For tertiary education, if the visa holder has stayed in Ireland for over 3 years, they can enjoy tuition fee as an EU student.
  • Based on the Common Travel Area (CTA) arrangement between the UK and Ireland, Irish and UK citizens can live in either country and enjoy associated rights and privileges. 

Visa application process

1
Provide free phone preliminary consultation, assess the applicant’s background and answer related questions
2
Arrange a face-to-face consultation to discuss the applicant’s circumstances, eligibility and timeframe
3
Sign Independent Advisory Agreement
4
Prepare investment funds and application documents, we will book an appointment for you to attend the police headquarter to apply for CNCC. Once the documents are ready, we can submit the case.
5

The standard processing time of the Irish Naturalisation and Immigration Services (INIS) is 6-9 months.

6

Receive the pre-approval letter from the INIS and make the investment within 90 days

7

Travel to Ireland and receive a two-year residency status (Stamp 4)

8

Renew the residency status for another 3 years

9
Apply for Ireland Citizenship 

Frequently Asked Questions

The Irish government has announced the cancellation of the Immigrant Investor Program (IIP) on 14 February 2023, but applications for approved projects can be accepted as long as there are still available places. Currently, we still have limited number of spaces for both endowment and enterprise investment projects. If you are still considering applying, please contact us for more information.

Their immigration permission remains valid and will be renewable in the normal manner for those who have been approved and completed their investment.

Yes, it is open to you to complete your investment within the 90 days. An approval letter will issue once evidence of the investment is submitted to the IIP unit. It should be noted that no extensions will be granted at pre-approval stage.

The preparation time mainly depends on whether the applicant’s funds and documents are ready.

In general, you can expect that the entire timeframe would be around 9-12 months, the breakdown for each stage is outlined below:

  • Our preparation time is around 2 months (including apply for CNCC, prepare relevant documents and due diligence report, complete the application forms)
  • The processing time for the CNCC is around 1 months
  • The standard processing time of the INIS to grant an approval is 6-9 months

Based on the CTA arrangement between the UK and Ireland, Irish and UK citizens can live in either country and enjoy associated rights and privileges, including:

  • Access to social benefits
  • Access to healthcare
  • Access to social housing supports
  • The right to vote in certain elections
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