Whether its the beautiful green hills of Donegal, or the bustling metropolis of Dublin, Ireland is certainly a beautiful destination! Other attractive features are a high national average annual wage (even for foreign nationals) and the Irish labor market. These are only the beginning of why more people are flocking to get permanent residency in Ireland. This requires obtaining an Irish residence permit or a working holiday visa scheme (for short stays of six to eight months) or to apply for Ireland permanent residence (Irish PR) to become an Irish permanent resident. This can be done through the Irish Permanent Residency Program.
The Irish Permanent Residency Program is one of the most popular residency-by-investment programs in the world – for four excellent reasons. In this article, we explain Ireland’s EU membership, high standard of living, and favorable business environment make this country very attractive for investors looking to relocate in an Ireland permanent residence (Ireland PR).
The straightforward golden residency program provides applicants and their families with a residence permit that can be renewed indefinitely. At the same time, investors are not required to physically reside in Ireland. Residents gain unrestricted, visa-free travel within the Common Travel Area, including the United Kingdom.
The Immigrant Investor Programme is open to non-EEA nationals and their families who commit to an approved investment in Ireland. Approved applicants will be granted rights of residence in Ireland and an employment permit to enter the State on multi-entry visas. Initially, the license for legal residence is granted for 2 years, and it can be renewed for a further 3 years. After the first 5-year period, the residence permit can be renewed again without having to maintain the investment.
The Ireland PR process may seem daunting, but it is important to apply for permanent residency within the long term residency division properly. If you simply wish to stay for six to eight months, long term residency isn’t for you. If you wish to stay for a minimum of six to eight months, this is for you!
The investment has to be good for Ireland, suitable for jobs, and in the public interest. The funds invested must be legally acquired and owned by the investor (i.e., not borrowed). The person has to be of good character. Foreign nationals can also apply for Ireland permanent residency and an Irish passport through Irish naturalisation and immigration.
Applications must include:
- Evidence of net worth.
- Evidence of funds covering the investment.
- Proof of the source of the funds.
- Evidence that the money can be transferred.
- A clean criminal record.
- Critical skill employment permit
Once your application process is approved, you must not physically reside in Ireland. Still, you do have to make one visit per calendar year.
Once you have become an Irish citizen, you may requiring one, some, or all of the following:
- An Irish bank draft and bank account
- Ireland permanent residence work permits (Ireland PR)
- A residence permit authorised by Irish authorities
- Ensuring you have met the Ireland PR requirements (you can check these through Irish authorities or a foreign embassy)
- Potential refugee status through an immigration service
- A green card
- Letter granting
- Ensuring you’ve applied in the long term residency division
Bear in mind, some of these will require additional fees such as a registration fee for your own permanent residency (Irish PR). It is also important to en sure you are up to date with your Irish work permit requirements – or you might find yourself in trouble with Ireland’s national police force! These documents can be obtained through an immigration service delivery which can be found online through a simple application process.
If you want to make more money in business, unlock better opportunities for your children, guarantee the safety of your own family members, or protect your wealth against excessive taxation… read on.
You can seize robust preferential trade conditions.
The Permanent Residency in Ireland Program allows you to set up an Irish legally resident side business and enjoy more profitable trade across Europe and worldwide.
The neighboring UK’s turbulent Brexit negotiations are worldwide news, but Ireland is still firmly in the EU. That matters because EU members enjoy the free movement of goods, services, money, and people amongst all 28 member states.
From a business perspective, that’s a huge opportunity because it means company owners in Ireland can trade freely across Europe. No red tape. No restrictions so long as products meet EU standards. No costly delays and frustrating bureaucracy.
Just business across the world’s biggest economy.
And it also means Irish company owners enjoy preferential terms with the rest of the world. The EU has the weight of 28 members behind its negotiations (27 after Brexit), so it has been able to secure the best possible trade terms with many countries globally.
The Irish Permanent Residency program is your way into this powerful trading group. Secure permanent residency in Ireland through the program, and you’re granted a work permit under ‘Stamp 4’ conditions to apply for permanent residence. This means you can work, study, and live in Ireland permanently, but even better, it means you can start your own business in Ireland.
The Permanent Residency in Ireland program is your way into this powerful trading group.
You need your family member’s business permission to appoint an EU citizen as a company director or pay a €25,000 bond to the Irish government to enjoy the preferential conditions.
Suppose you don’t want to live in Ireland. In that case, you can still secure permanent residency in Ireland by demonstrating that your business benefits the Irish economy – through employment, for example. You can be granted permanent residence and then set up and run your company remotely, enjoying better trade conditions with minimal disruption to your everyday life.
Your children enjoy world-leading education opportunities.
Irish Permanent Residency means your children can easily enroll in leading schools and universities in Ireland – and tuition fees are potentially waived for international students.
Ireland has more than half a million expats, representing almost every country globally. That’s nearly 12% of the Irish population. One of the biggest reasons for that is the standard of Irish education.
Consider the Organisation for Economic Co-operation and Development (OECD) Better Life Index, for instance. The Index measures and compares the 36 OECD member countries across several areas like housing, jobs, community, health, life satisfaction, and education.
Ireland ranks above average even amongst this select group, including many exceptionally well-developed European countries like Germany, Finland, Denmark, Iceland, Switzerland, and Norway. Education is one of the keys to Ireland’s high rating, with some excellent state-run and fee-paying schools. Ireland is also a world leader in higher education, investing more than EUR 782 million annually.
Ireland ranks above average even amongst this select group, including many exceptionally well-developed European countries like Germany, Finland, Denmark, Iceland, Switzerland, and Norway.
If you secure Irish permanent residency, you and your family can freely live, work and study in Ireland. That same permanent residence means your children can easily take advantage of Ireland’s forward-thinking education system – from primary to university. Some of the best universities for international students worldwide are in Ireland, like Trinity College Dublin.
You’ll have a secure and peaceful second home.
Irish Permanent Residency gives you total peace of mind that you’ve got a refuge if you ever need it. You’ll feel safe and secure in Ireland.
You needn’t actually live in Ireland to apply for permanent residency to maintain your residence – but you certainly can. And the number of expats in Ireland proves you’d be excellent company.
The thing is, political and economic turmoil is an unfortunate reality in many countries. If your new or current passport is restrictive, you might worry you won’t be able to quickly leave your home country if you need to.
The Irish Permanent Residency Programme gives you that option because it is a permanent residence permit, which means you can always come to Ireland. Whenever you choose, with no notice.
And once you’re here, you can stay as long as you like. Wherever in the country you want. With your own family member. You’ll enjoy the security and safety of a peaceful nation that ranks an incredible 10th in the Global Peace Index 2018.
You’ll enjoy the security and safety of a peaceful nation that ranks an incredible 10th in the Global Peace Index 2018.
Suppose you worry about things like your and your family’s security. In that case, the peace of mind with the Irish Permanent Residency Programme is well worth the investment.
You’ll pay very little tax compared to elsewhere in Europe
Irish Permanent Residency gives you total peace of mind that you’ve got a refuge if you ever need it. You’ll feel safe and secure in Ireland.
When you think about global business, the likes of Germany, Japan, Singapore and the US leap out ahead of Ireland. But Ireland beats them all, coming 8th on Forbes’ Best Countries for Business 2018. Ireland has had the fastest-growing economy in Europe for the last four years and is on target again for this year.
The most distinctive element of Ireland’s taxation system is the ratio of net Personal Income taxes on those earning more money in annual wages as opposed to individuals earning significantly less in annual wages (progressivity). In fact, the Organisation for Economic Co-operation and Development (OECD) had Ireland’s personal taxation as the 2nd most progressive tax system in the OECD, with the top 10% of earners paying 60% of taxes.
The 2018 OCED Taxing Wages study showed Irish average single (those not in a relationship or with families) and middle married (both with and without children as families) wage-earners paid some of the lowest effective employment tax rates in the OECD, with average married wage-earners in Ireland paying an employee tax rate of 1.2%.
The country’s excellent tax landscape significantly contributes to Ireland’s growth. Ireland ranks 4th globally for tax burden, to give some context. Thanks to its desirable 12.5% corporate tax rate, Ireland is considered one of the world’s most significant tax destinations for business owners.
If you become an Irish permanent resident, you can set up a company in Ireland and take advantage of these preferential rates. This could be exponentially beneficial for businesspeople, depending on your home tax situation.
Irish permanent residency unlocks better trade and a brighter future – for you and your family. And securing your place in this peaceful, prosperous nation couldn’t be more straightforward than through the popular Irish Permanent Residency Program.
Wrapping Up: Ireland Permanent Residency
So for whichever reason it is the you’re looking at permanent residency in Ireland – whether its the ease of employment permit, the ease of becoming an Irish permanent residence holder through an Ireland permanent residency application or even to have an Irish born child – we hope we have provided you with all the details and information as to what makes this lush green country so desirable.
Whether you’re after continuous residence where the national average wage is relatively high, or simply a student visa to travel abroad, Ireland makes a fantastic immigration stamp in your passport. So what are you waiting for? Begin your Irish journey today!
Next Generation Equity is a government-approved provider of second citizenship and residency programs tailored to the individual needs of discerning clients across the globe. To learn more about our programs, please sign up for a free consultation via the form below.
