- United States
Ireland is offering immigration to wealthy investors from non-European Union countries though two initiatives entitled as The Immigrant Investor Programme and The Start-up Entrepreneur Programme in a bid to attract overseas investors to help improve its economy.
The target of these two immigration packages will mainly be non-Europeans who, the Irish economists think, can bring abundant of revenue to their nation.
Under the revised visa laws, the businessmen and their families will be issued multi-entry visas initially for a period of five years. However, this period will be extended on grounds of the nature of business ventures.
The minimum rang of investment that a business visa applicant will be required to ensure is EUR400,000 (USD520,000) for endowment-related investments. However this range for the new Immigrant Investor visa will be EUR2M.
Ireland’s minister for Justice, Equality and Defence, Alan Shatter, said, “We need to do more to tap into the entrepreneurial potential that exists among migrants”.
Under Start-up Entrepreneur Programme, the migrants with innovative and feasible business ideas and revenue of EUR70,000 will be granted residency in Ireland so that they can executive their ventures.
The investors will be given proper time to set up and run their businesses without setting any job creation target in the beginning. They will also be given enough relaxation in terms of taxes and other payable dues.
An Evaluation Committee will be formed to gauge the progress of business projects regularly and report to the ministry of Justice, Equality and Defence.
The new policy has been well-debated and finalised. It is likely to be unearthed by March 2012.
Badly dogged by the recent global economic recession and the resultant unemployment, Ireland needs foreign investment to recover its economy and create jobs for a large number of the youth. The Immigrant Investor Programme and The Start-up Entrepreneur Programme will prove to be greatly helpful in this regard.
Tags: Business immigration, Business Visa, Immigrant Investor Program, Immigration, Ireland, The Start-up Entrepreneur Programme