If you want to permanently move to another country, or find a place to live abroad, you have plenty of options to back up. There are plenty to choose from around the world and plenty of new entrepreneurial opportunities right on your doorstep.
However, one of the most attractive options is to join Ireland’s Irish Immigrant Investor Program (IIP) or you can say immigration through investment. The Irish Immigrant Investor Visa is a great option for wealthy people and their immediate family who want to seek permanent residency in Ireland.
The IIP is, by definition, a five-year residency program, but subject to certain conditions, you can apply for permanent Irish citizenship or apply for Irish citizenship.
This blog post explains why you should get the so-called Irish Golden Visa!
What is the IIP System?
The IIP is a program available to non-EEA individuals who have agreed to invest in Ireland. The investment must be at least EUR 1 million over three years and must be fully funded by the investor. This program is called the Irish Golden Visa. Established in 2012 to attract new investment and provide opportunities for living abroad. All IIP applications, applications, all supporting documents, and investment proposal details are submitted to the Audit Committee for review. Those who have obtained approval from the Audit Committee and the Minister of Justice receive a residence permit after investment.
Successful applicants and selected families (16 years of age and older) must submit an affirmative statement. This statement must be prepared by a licensed legal professional in Ireland.
Benefits of Investing in Ireland with an IIP
The Irish Passport allows you to travel to more than 185 countries worldwide. Families can also apply for Irish passports. You can also apply for dual citizenship with an Irish passport.
Irish Tax System
One of the interesting features of the Irish tax system is that there is no tax on the income of non-citizens for tax purposes. This can be very important if you do not want to stay in Ireland during your stay. This rate attracts many multinational companies and also attracts migrant workers. Ireland is the European base of choice for more than 1,000 multinational corporations due to its low corporate tax rate. This means that business opportunities in Ireland are difficult to compete in many other parts of the world.
Although highly reliant on international trade and markets, Ireland is a stable and important EU member state and can rely on other member states for financial recovery in difficult economic conditions. You can stay in Ireland after the investment is over. If you want your money (cash) back after the 5 year period has expired, you can still live and work to get citizenship.
Ireland Standard of living
Ireland Education, health care and quality of life are among the best in Europe. People of Ireland are known for their kindness, warmth, and hospitality. In fact, Ireland is much higher than Britain and the United States in terms of UN survival.
Political and Economic Situation
Ireland can provide political and economic stability to people in relatively marginalized countries. In addition, it has joined the EU since 1973.
What are the downsides of investing in IIP?
There are a few important things to keep in mind if you plan to apply for Irish citizenship in the long run. Some tax laws in force require that you pay general taxes and spend most of your time in Ireland or less than 6 weeks a year in Ireland and avoid paying these taxes.
This means that if you spend less than 140 days a year in Ireland, you are considered homeless in Ireland for tax purposes. This way you can stay in the country longer without paying taxes. However, if you are finally applying for Irish citizenship, you will need to spend 6 weeks out of the year in Ireland to qualify.
If you finally decide to apply for Irish citizenship, you will need to spend all 6 weeks of the year in Ireland to qualify. So, all the best, get the Ireland residency by investment.