Ireland Startup Entrepreneur Program Details

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.

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

Legal residence

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.

Reckonable residence

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.

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.

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.

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.

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.