The Irish Immigrant Investor Programme (IIIP or IIP) is an investor visa for wealthy individuals and families outside the EU. As such an investor, in exchange for making a pre-approved investment in the Irish economy, is granted residency in Ireland. This program was started in 2012. It is a long-term visa of the type 'D.'

Ireland Investor Visa Eligibility 

Check below the adequacy requirements for IIP.

• Provide proof of a net worth which is at least 2 million euros

• Explanation of financial activities over the last 12 years

• Proof of investment funds

• Proof of funding source 

• Must have the attributes of a good person 

• Your investment must have a positive economic impact

• You must invest only in one of the four eligible options

Ireland Citizenship by Investment 

Any Non-EEA national with their dependents (spouse and children under 24) may obtain a temporary residence permit if he makes an approved investment in Ireland. And that is renewable under the Irish Immigrant Investor Programme. Read the two conditions below to achieve Ireland citizenship by investment. 

• Spend four years in Ireland Preceding the Application
You must have had four years (1,460 days) of continuous reckonable residence in Ireland in the eight years preceding the application. Continuous reckonable residence means that you must have spent no more than six weeks outside the country. So, suppose you spent more than six weeks outside Ireland in a given year. In that case, you cannot count that year as a "continuous reckonable residence."

• Spend one year in Ireland in the year preceding the application
You must have had one year (365 days) of continuous reckonable residence* in Ireland in the year preceding your citizenship application.

Permitted Investments for IIP

Only those investors can qualify for Ireland citizenship by investing in the allowed investments. Moreover, that person must have a minimum net worth of €2 million. 

Only the following investments are permissible in Ireland. 

• Approved Investment Fund  

• Endowment 

• Mixed Investments 

• Real Estate Investment Trusts 

Ireland Approved Investment Fund

Candidates must invest at least €1 million in a qualifying investment fund for three years. Furthermore, Immigration Ireland must have pre-approved the investment fund for the programme. Also, it must be private equity or venture capital fund. Further, it should be focused on small and medium-sized businesses. The fund's target size must also be at least €20 million.

Enterprise Investment

The minimum investment for enterprise investment is €1 million. Such investment should be for three years. 

Real Estate Investment Trust (REIT)

For an Irish REIT, the minimum investment amount is €2 million. And they have been listed on the Irish Stock Exchange for three years.

Endowment 

An investor must donate a minimum of €500,000 to a giving project in Ireland. It includes donations to health, education, sports, arts, and culture. 

Ireland Investor Visa Requirements

Required documents for it depend on the type of investment you are doing. Thus let's check below which kind of investment needs the documents.

Approved Investment Fund

You need to provide the following.

• fund's investment pool  

• Funding source 

• Investment strategy

• Target return on investment, including employment projections for the fund's investments

Enterprise Investment

• A thorough business plan. The plan must clearly outline the financial investment. Also, the amount of equity you will obtain in the business. On the Irish Immigration website, a business plan template is available. 

• If you invest in an existing business, provide the most recent audit records.

Real Estate Investment Trust (REIT)

• A sign that you want to invest in a REIT. To avoid the leak of sensitive information, do not state which of the listed options you chose. 

• Evidence that you have the necessary funds for the investment.

Endowment

Provide details of;

• how the public will benefit?

• how you will use the investment?

How to Apply?

To apply, you need to go through the following steps.

• Experts consultation

• Online application to the Irish Department of Justice 

• Application must be mailed to the Department of Justice. So an independent evaluation committee can make an assessment. 

• Payment of application fee

• Obtaining a Letter of pre-approval 

• Registering your visit to Ireland

Processing Time and Extension

Processing Time 
The general processing time is 4 to 6 months by Irish Naturalisation and Immigration Services (INIS).  

Extension
After two years, applicants can apply for three-year extensions. After this, you may withdraw your application. And have your residence permit extended indefinitely (every five years) after these five years. But it is only possible in case if you have kept your initial investment for at least five years. Other than this, you will also be checked for maintaining a good character and being financially stable.

NOTE: There is no Ireland visa by the name 'golden visa'. Instead, there is an Irish Immigrant Investor Programme (IIIP or IIP). Hence, one can use 'golden visa' to refer to Ireland's IIIP program. The golden visa is to get a country's citizenship using investment over there. Whereas IIP eventually gives citizenship to investors and their eligible family members.