Settle In Ireland With Your Family As An Entrepreneur
As one of the world’s best located and most welcoming economies, Ireland is the perfect destination for entrepreneurs seeking to settle abroad. The Ireland Startup Entrepreneur Program invites non-EEA entrepreneurs to setup their business and settle permanently in Ireland. With dynamic opportunities and a great standard of living, Ireland is perfect for entrepreneurs seeking global mobility. Y-Axis can help you make the most of this opportunity with our dedicated, expert immigration support.
Ireland Startup Entrepreneur Program Details
The Ireland Startup Entrepreneur Program enables entrepreneurs to apply and settle in Ireland. With has one of the lowest financial requirements, it is one of the most attractive options for entrepreneur immigrants. Under this program you can:
- Low Investment requirement of EUR 50,000
- Settle with your family for two years which will be renewable for a further three years
- After 5 years you will be eligible for long term residence in the State
- Low corporate tax rate of 12.5% of active business
- No initial job creation target for the first 2 years
- No specific business management experience required
- Get access to healthcare & education benefits
- Gain access to a high standard of life
If you meet the following criteria, you may be eligible for STEP:
You are a person of good character.
You have never been convicted of a crime in a court of law.
Have the requisite €50,000 in funds
Your business proposal is unique
The documentation required for the Ireland Startup Entrepreneur Program includes:
- Passport & travel history
- Educational and business credentials
- Hold €50,000 or more in a regulated bank held for a period of 3 months prior to submitting the application
- Capable of creating 10 jobs in Ireland and realizing €1 million in sales within three to four years of starting up.
- Demonstrate English language proficiency
How Y-Axis Can Help You?
Y-Axis can help you evaluate your options and choose the course of action that is best for you. Our services include:
- Immigration documents checklist
- Complete application processing
- Forms, documentation & application filing
- Updates & follow up
- Relocation and post-landing support in Ireland
Talk to us today to know more.
How much does it cost to register a business in Ireland?
One of the below forms along with the fee for the registration of the business name in Ireland must be submitted to the CRO within 30 days of adopting the business name:
- For a body corporate: Form RBN1B
- For a partnership: Form RBN1A
- For an individual: Form RBN1
The registration fee is 40 Euros for paper filing and 20 Euros for electronic filing.
How can I apply for Ireland Investor Visa from India?
The investment-based immigration program of Ireland is amongst the latest programs globally launched in 2012. Ireland classifies its program into 2 broad divisions similar to other programs in Europe: the Start-Up Entrepreneur Program and the Immigrant Investor Program.
The approved investors along with the spouse and single minor children are offered 5 years’ Irish Residency under the Ireland Investor Visa. This is renewable after a period of 2 years.
Ireland intends to encourage a specially designed Government Bond with low interest under the Investor Visa. Applicants who choose this option are required to make an investment of minimum 1,000,000 in these Bonds.
Investing in property is another option for overseas investors. They can opt for investing at least 450,000 Euros into a residential property. This is along with combining investment of 500,000 Euros into the Bonds for immigrant investors.
The Ireland Investor Visa also has a unique feature. Investments in Health, Education, Sports, or Cultural areas will also be accounted for offering immigration benefits. Significantly, no specified amount is needed for the investment.
The amount considered to be necessary will rather be based on the investments’ nature and the industry to which it will be dedicated. The Government of Ireland has however stated that the amount required usually is in the range of 2,000,000 Euros to 500,000 Euros.
The overseas national, as well as family members can apply for the Permanent Resident Visa after the investment has been made and recorded. The PR Visas will usually have a validity of 5 years and approval occurs at two different stages
The Immigration Authorities in Ireland review the investment after the investor stays for 2 years. This is to ensure that the investment continues to fulfil the requirements of the Investor Visa. If it continues to fulfil the conditions, the Visa will be extended for an extra 3 years. Later, the PR Visa can be extended by the investor once in 5 years.
What documents do I need for Irish citizenship?
Application of Irish Citizenship by non-EEA/EU and Swiss citizens based on residence requires proving that the applicant:
- Has been and is now a legal resident in Ireland
- Has developed adequate ‘reckonable residence’ in Ireland
You must demonstrate that you have been lawfully residing in Ireland for a minimum of 5 years out of the past 9 years. It is inclusive of continuous residence of 1 year prior to the date of application. This can be done by providing your stamps for immigration permission.
You must demonstrate that you have accumulated adequate calculable residence in Ireland to be offered Citizenship, particularly:
- 1826 or 1825 days of calculable residence based on your collated permission stamps
- It is inclusive of 366 or 365 days of uninterrupted residence just before the application date
While calculating your reckonable residence, some categories of permission stamps cannot be considered.
Reckonable residence and registration
You must ensure that your immigration registration has no gaps and is up-to-date during your residence. Otherwise, your Citizenship application can be rejected.
Time gaps between permissions or stamps can imply that you were unlawfully in the nation. Children of 16 years age and above are also required to register and keep their registration updated.
How long does it take for Ireland Visa?
The processing times for Ireland Visa application can vary based on the complexity and type of application. The intended processing times for full Visa applications filed at the Ireland Visa Office at London is as follows:
- Applications for Business Visa – 7 working days
- Visitor and other Short-stay Visa applications: roughly 4 weeks
The Visa Officer will confirm the decision date for Visa application made at the public office at the time of accepting the application. The target processing times are applicable for all Visa applications received by the London office inclusive of postal applications.
More detailed consideration is required by the Long-stay Visa applications in comparison with Short-stay Visa applications. It is advisable that these applications are filed 4 months prior to the travel date.
How do I set up a business in Ireland?
Below is the step-by-step process to set up a business in Ireland:
Company registration: You must first decide if you are registering as a company, partnership or sole trader. Registering as a sole trader implies that the business is wholly in your hands. You are the decision-maker and this option is good if you intend to trade as a small business.
Registering as a limited company or partnership is recommended if your innovation has much larger potential.
Business name: The name of the business must be registered with the CRO within 30 days of adopting it after the company has been registered.
Accountants: You are more than likely of already having availed the professional services of an accountant if you used a tax agent. However, if you did it alone, then you must look for an Accountant immediately.
Legal advice: Obviously, legal advice is a crucial aspect of trademarks and patents. You may have to get in touch with a specialist firm that takes care of the intellectual property.
Office space: It is not necessary to own or rent an office space. It is possible to do this however in a comparatively low cost if you are a Start-up seeking to leave the isolation of a home office or relocate from the kitchen table.
Staff: You can register yourself as an employer after you have been offered a tax reference number and have registered your business. Then it is time to research employers’ liability insurance, book-keepers, and payroll software. It will depend on the number of staff you intend to employ and how good you are at book-keeping.
What are the terms and conditions of my permission?
Permission can only be granted if the following conditions are met:
You must start the company as described in your application.
You must devote 100% of your attention to this venture.
You are not allowed to work in any other capacity.
You must not become a financial liability to the Irish government.
You must not have ever been convicted of a crime in any jurisdiction.
If these standards are not met, the Start-up Entrepreneur Program’s residency status may be revoked.
Which family members can be included under the startup program?
In your application, you may include the following family members. They will be awarded Irish residency on the same terms as you if they are successful:
Civil partners or married couples
De facto partners, as long as you can prove you’ve been in a cohabiting relationship for at least two years.
Children under the age of 18 who are unmarried and have legal custody or guardianship over you or your partner.