Apart from the Ireland Immigrant Investor Program, non-EEA nationals can also obtain permanent residence in Ireland through the Start-up Entrepreneur Program. An entrepreneur starting a High Potential Start-Up in Ireland can seek permanent residence through Ireland Start-Up Entrepreneur Immigration.
A High Potential Start-Up is a venture that:
- Is managed by an experienced team of professionals and is headquartered in Ireland
- Involves new and innovative products/ services to clients from all over the world.
- Targets creation of at least 10 jobs in Ireland and realization of sales of €1 million in sales in the first few years.
- Is either setup during the application process or not before six years prior to the application under the program
Eligibility for Ireland Start-Up Entrepreneur Immigration
The applicant must fulfill the following conditions:
- Submit a high potential start up venture proposal for a business that is not already covered under the Business Permission Scheme.
- The applicant must invest at least €50,000 in the venture. If multiple applicants are seeking residence on the basis of a single venture, then all individuals other than the primary applicant must make an investment of not less than €30,000
Validity of Residence for Ireland Start-Up Entrepreneur Immigration
The Program offers Irish residence for a period of two years along with the option of further renewal for five years, after which the applicant and nominated family members can seek long-term residence.
The application process involves the following steps:
- Submission of the application form, supporting documents, and startup proposal to the Evaluation Committee.
- Upon positive recommendation of the Evaluation Committee to the Minister, the applicants will be invited to apply for the residence permit.
- The applicants must provide evidence of transfer of funds for commencement of the startup venture along with attestation of good character and absence of criminal record for self and spouse.
- The applicants will be granted permission to reside and work in Ireland for a period of two years provided the applicants have adequate medical insurance and don’t seek assistance from public funds for their sustenance in Ireland.
Fees for Ireland Start-Up Entrepreneur Immigration
Non Refundable Application Fee: €350
Inclusion of Family Members
- Spouses, and
- Children aged less than 18 years under legal guardianship of the applicant or his or her spouse. Children must not be married or in a common law relationship.
Renewal of Residency
Residency will be renewed after the period of two years provided the following conditions are fulfilled:
- The Start-up continues to exist.
- Positive assessment of the Evaluation Committee about its viability and prospects of success.
- Maintenance of good character of the applicant.
- Having adequate health insurance and not having sought assistance of public welfare programs.
Residency will be renewed for a period of three years, after which renewal will be done once in every five years.
Documentation for Ireland Start-Up Entrepreneur Immigration
- Proof of identity
- A detailed business plan for the innovation startup proposal in accordance with the Business Plan template available on the INIS website specifying the location of the venture in Ireland and other countries and number of employees to be hired.
- In case application concerns an existing business, then applicant must submit most recent audited statements of the business.
- Proof of deposit of required funds secured from own funds, loans, venture capital funding, and State Grants. This evidence may include
- Bank statements,
- Confirmation letters from bank, or
- Letter from lenders or venture capitalists confirming funds committed to the project
- Proof of applicant’s ability to transfer the funds in the form of a letter from a bank or financial institution confirming the same.
- Statement from police authorities of all countries where applicant has resided for more than six months during the 10 years preceding the filing of application.
- Affidavit attesting good character of applicant and his or her spouse.
- Proof of relationship with family members.
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