The Republic of Ireland is a sovereign state in north-western Europe occupying about five-sixths of the island of Ireland. After gaining independence it became one of Europe’s economic success stories in the latter part of the twentieth century as well as witnessing one of the greatest periods of economic growths in European history. Ireland continues to enjoy economic prosperity and provides one of the highest standards of living for their residents. Irish people are known for their unique culture with highly influential forms of music, dance and literature that continue to this day to infiltrate the popular culture of Europe and America.
FACTS AND FIGURES
- Population: 4,760,000
- GDP: $231,000,000,000
- Per Capita GDP: $65,870.825
- Size: 70,280 km²
- Capital: Dublin
IRELAND INVESTMENT RESIDENCY PROGRAM
Applicant who are non-EEA nationals.
Main applicant: over 18 years old
Spouse and children under the age of 18; unmarried children aged between 18 and 24, who prove that they are financially dependent on the applicant.
No criminal record
€1M into an Irish enterprise for a minimum of three years
Evidence of net worth : €2M
Evidence of Funds worth €1M
Evidence of source of funds
Evidence of Character
To support investment in Ireland and to enhance Ireland’s position as one of the world’s most globalized economies, the Irish Government have created the Immigrant Investor Programme to facilitate investors and business professionals from outside of the EU to avail of the opportunities of investing and locating business interests in Ireland.
The Immigrant Investor Programme facilitates non-EEA nationals and their families who commit to an approved investment in Ireland to acquire a secure residency status in Ireland. The Program was established by the Irish Government in 2012 and enhanced in July 2013.
The 2008 economic downturn devastated European markets and had far reaching implications that some parts of the Eurozone and the world are still struggling to recover from. It also put an end to the years of spectacular economic development in Ireland that was called the Celtic Tiger. However, Ireland has found a period of resurgence since the beginning of 2010 that many are dubbing the Celtic Phoenix, representing its rebirth from the ashes following 2008.
The 5.2% GDP growth in 2014 was surprising. Earlier this year the Central Statistics Office published 26.3% growth and our collective jaws hit the floor. This figure is three times the estimate based on corporate projections of 7.8% and is so astronomical because it incorporates foreign investment. According to Bloomberg, this figure is explained by the vigorous investment of American companies looking to use the 12.5% corporate tax rate. Last year the Eurozone collectively grew by 1.2%.
The projections for the first half of 2016 were close to 5%, again showing tremendous growth as compared to Ireland’s European neighbors. This 2015 surge may be unusable as an actual growth indicator but shows the international interest in Ireland as a reliable investment shows trust in the Celtic Phoenix.