Choosing where to apply for residency through investment is always a difficult choice if you don’t have your heart set on any one country in particular.
Different countries across the world offer a lot of different characteristics that can entice business people to choose residency through investment in them.
For example, countries in the EU offer social and economic stability, as well as strong opportunities to grow business, and have a strong quality of life.
Here at IDLF, we understand that choosing where you want to invest can be a difficult decision.
That’s why we’ve put this guide together to outline why top entrepreneurs choose the Immigrant Investment Programme (IIP) to obtain residency through investment in Ireland!
Ireland’s economy and tax system
In Ireland, there is no tax on income earned internationally.
Coupled with this, the corporate tax rate in Ireland is very low – 12.5%. Only Hungary (9%) has a lower corporate tax rate in Europe!
In turn, Ireland is now the headquarters of thousands of business giants from around the world. In fact, Facebook, Microsoft, and Google all have their headquarters in Ireland!
In fact. the top 25 firms make up nearly 75% of FDI (Foreign Direct Investment) in Ireland, making it highly concentrated. As of now, there are over 1,600 overseas company operations based in Ireland.
These companies employ over 250,000 people.
Ireland has proved itself a reliable and stable member of the European Union, so it can rely on its European neighbors if it does hit an economic downturn.
Learn more on our Irish economy page.
Great time to invest in property in Ireland
Ireland is an attractive destination to invest in property. In 2021, house prices in Ireland rose 9% from the year before.
This was particularly prevalent outside of major cities like Dublin and Cork, where inflation was as high as 13%.
This is a huge factor in why the residential market in Ireland is right at the forefront of investors’ minds.
As the economy continues to grow, and more multinational corporations and in turn skilled workers relocate to the country, the property market has begun to heat up.
What makes the property market so attractive is that there are no limitations on real estate ownership in Ireland.
Essentially, the property can belong to both residents and non-residents.
There is no ambiguity in the laws and systems around Irish property.
This makes it a great place to buy real estate and to do business, particularly with such a high-skilled workforce and the growing number of companies relocating to Ireland.
Ireland’s healthcare system and services
Ireland’s healthcare system is public and private.
An Irish citizen or person that has been residing in the country for one year or more is considered by the Health Service Executive (HSE) to be ‘ordinarily resident’.
If someone is classed as an ordinary resident, the person will be entitled to either full eligibility (Category 1) or limited eligibility (Category 2) for health services, meaning you will have at least partial access to Irish health services.
There are 45 public and 19 private hospitals in Ireland.
Roughly 40% of Irish citizens choose to purchase private health insurance. Health coverage is very affordable too.
Four companies offer private insurance in Ireland: Irish Life Health, Laya Healthcare, VHI Healthcare and HSF.
Great education system and skilled workforce
Ireland boasts some of the best options for both public and private education in the world.
There is the option of free public school education for children. This free education is available for pre, primary and secondary schools.
There is also a broad range of different types of school that children can attend – mixed-gender, single-gender, single-religion, or non-denominational schools. In Ireland, the third-level education sector in Ireland is made up of universities, institutes of technology, and colleges of education.
You will also have the option to enroll your children in prestigious private schools – many offering boarding facilities for students. Such a competitive education system has helped produce a highly-skilled workforce.
Over 250,000 highly-skilled Irish workers are currently employed by the over 1,000 MNC’s. With a large pool to choose from in the highly-skilled workforce, setting up a company in Ireland has never been easier!
How does the IIP work?
The IIP, or Immigrant Investor Programme, is a scheme that offers residency through investment and is available to non-EEA nationals who agree to invest in Ireland as well as being able to meet certain requirements.
Each applicant who applies will need to agree to an investment of at least €1m (this must come from the applicant’s own resources) and it must be committed for a minimum of three years.
If it is a low-risk, highly- reputable investment option you are looking for, look no further than IDLF!
Essentially, there are five key steps to undertake with IDLF as part of the IIP process:
1: Contact Us
Here, we will discuss your application and set up a consultation if you wish to proceed further.
This can be done virtually if Covid-19 concerns or travel reasons make a face-to-face meeting impossible.
3: Build your Application
Once you are given all of the key details about the IIP, we can begin to build your application together.
4: Visit Ireland (optional)
It’s always a great idea to check out what Ireland has to offer – after all, you will become a resident there!
However, we are aware that travel restrictions may make this difficult right now
5: Submit your Application – Secure your Residency!
Once everything is completed properly and your application is submitted, you just need to wait for your residency to be secured!
Have more questions about the IIP scheme?
Don’t worry! The IDLF team is here to help you out!