Immigrant Investor Programme and Start-up Entrepreneur Scheme announced by Department of Justice and Equality
Date Published: 16-04-2012
Minister for Justice and Equality, Alan Shatter formally announced two new immigration programmes in March 2012. Applications for the Immigrant Investor Programme and the Start-up Entrepreneur Programme commenced on 16 April 2012.
The Immigrant Investor Programme
The Immigrant Investor Programme allows non-EEA citizens and their immediate family to enter the State on a multi-entry visa for an initial period of 5 years, reviewable after two years.
The following investments will be considered under this programme:-
- A once-off endowment of a minimum of €500,000 to a public project
- A minimum €1,000,000 venture capital funding into new or existing Irish businesses for a minimum of three years
- A minimum €2,000,000 investment in a special interest 5 year immigrant investor bond
- A minimum €1,000,000 mixed investment consisting of 50% in property and 50%in immigrant investor bonds. Special consideration could be given to those purchasing property, in the State, which have been enforced by NAMA. In such cases a single €1m investment in property might be sufficient.
The Start-up Entrepreneur Programme
Under the Start-up Entrepreneur Programme, residency will be granted to migrants with a "high potential start-up" initiatives and funding of €75,000 for the purpose of developing their business. No job creation targets will be set initially as it is recognised that start-up businesses take some time to get up and running. In addition, persons must not be a ‘drain’ on public funds.
All applications for both the Investor Programme and the Start-up Programme will be subject to an evaluation process. Applications forms and guidelines will be available from 30 March 2012.
For further information:-
Guidelines and Application Form for both programmes are available on www.inis.ie