Investment and Business Permission in Ireland
How to Apply & Where to Apply
for
Invest and Business Permission in Ireland ??
If you are an EEA or Swiss national you are entitled to come and work in Ireland either as an employed or a self-employed person. EEA and Swiss nationals do not need permission to establish a business in Ireland and they do not require a visa to visit, travel to, live or work in Ireland.
UK citizens have the right to work within Ireland, including on a self-employed basis.
There are 2 ways in which non-EEA nationals can invest or start a business in Ireland – see ‘Schemes for self-employed non-EEA nationals’ below.
If you are coming from outside Ireland to set up a business you will need information on a number of topics such as tax and legal requirements – see ‘Information and Supports’ below.
Schemes for self-employed non-EEA nationals
Immigrant Investor Programme
The Immigrant Investor Programme provides a range of investment options which allows approved non-EEA investors and their immediate family enter Ireland on multi-entry visas and remain here for up to 5 years with the possibility of ongoing renewal. The investment must be good for Ireland, good for jobs and in the public interest. The funds must be legally acquired and owned, not borrowed, by the investor. Investors must be of good character and must not have been convicted of criminal offences in any jurisdiction. They must have a minimum net worth of 2 million euros and be able to provide evidence of this.
In order to be considered for the Programme, the proposed investment must be in one of the following categories.
You can apply for any of the 4 investment options without committing any investment funding. If you are approved, you then invest in your preferred investment option and following this, you and your nominated family members will be issued with permission to reside in Ireland. You do not have to live in Ireland to avail of the programme, but you must visit Ireland at least once a year.
Start-up Entrepreneur Programme
The Start-up Entrepreneur Programme (STEP) allows a non-EEA national with an innovative business idea and minimum funding of €50,000 to come and set up a business in Ireland. The aim of the Programme is to support High Potential Start-Ups which are defined as start-up ventures that are:
12-month immigration permission: A 12-month immigration permission is available for foreign national entrepreneurs attending incubators or innovation bootcamps in Ireland to allow them to prepare a STEP application. This 12-month permission is also available to non-EEA students who graduate with advanced STEM (Science, Technology, Engineering, and Mathematics) degrees in Ireland and wish to work on preparing a STEP application.
The STEP scheme does not apply to retail, catering, personal services or similar businesses. No initial job creation targets will be set as it is recognised that such businesses can take some time to get off the ground.
Business Permission
A business permission scheme that allowed you to start a retail, catering, personal services or similar business was open until 16 March 2016. It is no longer in operation. If you were granted permission before this scheme ended, you will find information about applying for a renewal on the INIS website.
Residency
Successful applicants for the Immigrant Investor Programme and the Start-up Entrepreneur Programme and their immediate families will be granted residence permission for 2 years initially. Their immediate family means their spouse, civil partner or partner and dependent children aged under 18. In certain cases, children between the ages of 18 and 24 will be considered for residence under the programme. This permission can be renewed for a further 3 years. After these first 5 years, the investor or entrepreneur can apply for long-term residence. If required they will be granted multiple entry visas for the same duration.
Information and Supports
If you are coming from outside Ireland to set up a business you will need information on a number of topics such as tax and legal requirements.
Businessregulation.ie is a portal to help you identify the main regulations which affect your business.
IDA (Irish Development Authority) Ireland is an Irish government agency with responsibility for securing new investment from overseas in manufacturing and internationally traded services sectors. It can provide information about setting up a business in Ireland and may provide grants to companies wishing to locate in Ireland or expand their existing operations in Ireland.
Enterprise Ireland is an Irish government agency which is responsible for the development of Irish industry. It provides advice and financial support to High Potential Start-Up (HPSU) businesses.
Local Enterprise Offices provide supports such as advice and grants to local businesses (10 or fewer employees) that are starting up or in development.
How to Apply ?
To apply for the Immigrant Investor Programme you complete the investor application form (pdf) and pay a non-refundable application fee of €1500.
The Immigrant Investor Programme will open for applications between the following dates in 2020:
To apply for the Start-up Entrepreneur Programme you complete the entrepreneur application form and pay a non-refundable application fee of €350. Further information on Step will become available on the INIS website.
The application forms and guidelines as well as a sample business plan template are available on the INIS website. You will need the following documentation to complete the application:
More information about the investor and entrepreneur programmes is available on inis.gov.ie
Contact the Companies Registration Office to register your business - see 'Where to Apply' below. You can register and file your documents such as your annual returns online with CRO using CORE (Companies Online Registration Environment).
You can contact your Local Enterprise Office to find out the supports available for setting up a business in Ireland - see 'Where to Apply' below.
You can find out about registering for tax from your tax office – see ‘Where to Apply’ below.
Where to Apply ?
Contact your tax office.
Contact your Local Enterprise Office.
Contact your local development company (pdf).
Investment and Entrepreneur Unit
Department of Justice and Equality
Immigration Service Delivery
13-14 Burgh Quay
Dublin 2
D02 XK70
Ireland
Homepage: http://www.inis.gov.ie/en/INIS/
Email: [email protected]
Companies Registration Office
Parnell House
14 Parnell Square
Dublin 1
Ireland
Tel: (01) 804 5200
Local: 1890 220 226
Fax: (01) 804 5222
Homepage: http://www.cro.ie/
Email: [email protected]
Source Article: Citizens Information