Ireland Makes Its Business Visa Flexible For Migrant Investors!

Written by Kruti Beesam

Ireland Makes Its Business Visa Flexible For Migrant Investors!

There’s good news for all those wanting to establish business in Ireland. The country is moving towards becoming more business friendly than it used to be. The going up of Irish business visas by 15% since 2010 is a proof of the same. The information that it was done to attract migrant investors was revealed by the Economic and Social Research Institute.

Growth in the Number Of Investors

Owing to this target of Irish government, 17% of the 90,400 visas granted last year belong to the category of business visas. Additionally there has also been in an increase in the number of visas granted to overseas workers. This number has increased from 13,365 in 2010 to just over 15,400 in 2014. Among the so many business visas that were granted to people, most of them were given to people from India.

The visas granted to Indians account for one third of the total visas granted. As much as 18% of these visas were granted to the Chinese and the Russians too got 13%. The non EEA Business travelers going to Ireland will not need a visa to get to that country. In 2012 as many as 55 permissions were granted under the Immigrant Investor Programme.

The New Visa Rules

This program allows the non EEA business immigrants to enter Ireland with a multiple entry visa, accompanied by their immediate family. Not only this, they are allowed to reside in the country for 5 years.  The Start-up Entrepreneur Programme (STEP) gave out 30 permissions.

Speaking in this regard report co- author Egle Gusciute said, “While older schemes focused on preventing misuse of business migration channels, the Department of Justice and Equality noted that this has not been a major problem in Ireland. There are now more options available to non-EU migrants wishing to set-up a business or to invest in Ireland. While the new measures seem to be working in terms of facilitating business people, high living costs and lack of accommodation may deter some entrepreneurs and investors.”

Source: The Irish Times

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