Business in Ireland


If any individual is considering to setting up a business there are various issues person have to consider. Special regulations apply, dependent upon specific circumstance. The person may be worker, unemployed or somebody who is originating from out of Ireland to start a business. Individual intending to go to Ireland for business can go under business permit, Start-up entrepreneur program or migrant investor program.

Business Visa

Overview
Applying for Irish Business Visa permits an individual to visit Ireland business purpose with the duration of 90 days. In Ireland, Business Visa does not include approval to work, and contrasting to work permit or Irish Green Card that are initiated for staying and working in Ireland, business visa application does not allow the applicant to start working in Ireland.
Though, visa holders are allowed to get involves in a sort of business related operations, including attending conferences and meetings.
Irish Business Visas are dissimilar from work visas in which applicant in possession of the previous cannot be paid. Individuals acquiring this visa will not be working in Ireland but purpose of the visit will be linked to their work in their home country.

Requirements
Similar to Irish tourist visas, visiting Ireland under business permit needs criteria mentioned below;
• Applicant needs to provide a recent passport from their home county. The passport should be valid for at least 6 months ahead of the proposed date of leaving Ireland.
• Emphasizing the temporary application for this visa class, application needs to be able to display their aim to return to their home country. This can generally be satisfied by providing evidence of their employment, family commitments or bank accounts.
Additionally, while applying for business application the following requirements must be fulfilled to;
• A letter of invitation should be given. This must appear from the appropriate Irish company and must provide details of the reason, proposed activities, and time of the stay.
• A letter should as well be provided from the candidate’s recent employer. This must substantiate that the tour is being undertaken on behalf of the company and that the applicant will come back to their employment ahead of the period of the visit.
• Applicants must also provide evidence of where they will be staying during their time in Ireland.
• Verification must be given of who will take accountability for expenses throughout the stay in the country.

Visa Fee Process
Single visit 63.7881 EUR
Various visit 105.326 EUR
Note: Embassy can bring amendments regarding these charges without earlier notice. Please verify prior to applying for visa.

Family Immigration
In support of provisional permits of this visa class, no particular stipulation is made for instant family members of the candidate to accompany them. These visas in Ireland are only valid for 3 months; all the candidates need to apply in their own right.

Startup Entrepreneur

  • Overview
  • Categories of Business Proposal that may Apply through this Program
  • Duration

Overview
The start-up Entrepreneur Program offers that non-EEA citizens with an imaginative business idea for High Potential Start-up funding of about €75,000 can get residency in Ireland for the reason of establishing their business. No job creation targets will be decided in beginning because it is identified that such business can take time to succeed. This program will assist applicant in developing a strong relationship with Ireland.

Categories of Business proposal that may apply through this Program
The objective of this program is to maintain and support High Potential Start-ups. A High Potential Start-up is stated as a introducing capital that is;

  • Establishing a new or unique product or service in Global markets.
  • Competent of generating at least ten jobs in Ireland along with revenue of €1 million in sales within three to 4 years of starting up.
  • Directed by a qualified management team.
  • Controlled in Ireland.
  • Less than 6 years old.

The program is not designed for retail, catering, personal services or other businesses of this kind. The Irish Naturalization and Immigration Service current business immigration channel known as the “Business Permission Scheme” continues available to this kind of proposal.

Duration
Applicants along their sponsored family members will be allowed to stay in Ireland for 2 years that could be extended for up to 3 years. After completing duration of 5 years in Ireland, applicants will be eligible for long term stay in the country. The applicant will be allowed with various visit visas for Ireland for same time period. This will grant the candidates to remain in the country and travel to Ireland freely for the period of allowance.

Immigrant Investor Program

  • Overview
  • Duration
  • Eligibility criteria for Immigrant Investor Program
  • Application and assessment process
  • Required Documents
  • Residency Permission Available under the Immigrant Investor Program
  • Eligible Family Members

Overview
This visa category is designed non-EEA citizens and their families who want to invest in Ireland and to get permanent resident status. Irish government in 2012 to encourage dynamic investment in Ireland introduced this program.

Duration
Candidates and their family allowed residence of 2 years in Ireland that can be extended for further 3 years. After completing period of 5 years, participants under this category will be able to make an application for permanent residence in Ireland. According to which candidate will be permitted with multiple entries to Ireland for same time period. In addition participant will also be able to live and travel without restraint to Ireland for the allowed period of time.

Eligibility criteria for Immigrant Investor Program
Non-EEA residents who intend to attain residence in Ireland under this visa class should qualify any of the below mentioned requirements.

  • Immigrant Investor Bonds

At least invest €2,000,000 in immigrant bond granted by Ireland performing by the means of National Treasury Management Agency.

  • Enterprise Investment

Investment of minimum €1,000,000 in single enterprise of Ireland or spread over numerous for at least three years.

  • Mixed Investment

In some cases investment in property is considered appropriate for this visa group. For property investment to be the base of eligibility for residence, the property in question should,

  • Be an inhabited property in which candidate intend to stay along with the family. In this case, at least €1,000,000 as investment will apply and this investment needs to be diversified between residential property and migrant investor. Or else, a property investment of at least €1,000,000 in which investor shows an economic or social benefit for Ireland.
  • Endowment

At least endowment of €500,000 in a project of public benefit in the arts, culture, education, health and sports ground. This endowment is required to be related as a charitable contribution with an obvious public benefit. No financial return is received on investment.

Application and assessment process
This application of this visa category is processed through two stages;

Stage 1; application for investment and migration approval
In stage one, applicants will provide their application and all necessary documents and details of their investment proposals for approval by Evaluation Committee. The committee will judge the proposal and may search for additional information from applicant if needed. It is to be noted that the committee will communicate with applicant and sponsored legal or financial representatives.

Stage 2; issue of residence permission
Successful candidates whose investment proposals are accepted will be issued with the residence permissions when following requirements are fulfilled,

  1. The projected investment has been followed and proof of the transfer of funds in to the investment has been supplied to INIS.
  2. The candidate and their spouse or partner (if relevant), has provided the required affidavit attesting to their character certificate and lack of criminal record.

Required Documents

  • Immigrant investor bond, showing that applicant has enough funds.
  • Enterprise Investment, revealing the most recent audited accounts, a complete business plan, indicating the process funds will help in creating and maintaining employment.
  • Property Investment, evidence of property investment in original document from legal adviser permitted to practice in Ireland. The letter must be in original form and must demonstrate;
    • Name of the legal adviser who is verifying your details
    • Registration or authority of legal adviser to perform lawfully in Ireland
    • Agreed Sale price of property.
    • Evidence that property in application is ‘sale agreed’.
    • Evidence that the property will be bought from the investor’s own resources as well as will not be mortgaged or credited
  • Endowment, applicants who want to follow endowment need to provide details of their endowment through a business plan template available from INS website
  • Evidence that applicant those funds and capability to transfer them to Ireland by a letter from any financial institution governed by Central Bank of Ireland.
  • Sources of funds, as if the is held in financial institution of Ireland at time of applying applicant is required to give proof that is important to create the source of his/her money. To confirm the source of funds following documents are required;
    • Business and investment activities, applicant needs to submit financial accounts along with a verification letter from legal advisor.
    • Performance of sale, if applicant is providing sources from the progress of sale of assets it is important to submit documents in original as deeds of sale of assets followed by a verification letter through a legal adviser. This document should display; name of applicant, monetary worth of sale and date of sale.
    • Inheritance; in case applicant has inheritance which has facilitated the application, then a copy will be required with a verification letter, containing date of will, evidence that applicant is beneficiary of the will, amount that is inherited to applicant and names of executors or any additions to the will.
    • Divorce settlement, if the applicant has received funds from a divorce settlement, applicant is required to provide details of assts and funds acquired by the means of divorce along with a letter from legal adviser permitted to practice in country where divorce was declared.
    • Evidence that applicant can transfer the funds (money) and is convertible in euros.

Residency Permission Available under the Immigrant Investor Program

  • Applicants, who have their application approved, are eligible to apply for residency.
  • Once evidence of transfer of funds is provided applicants will be allowed with following residency permission in Ireland;
    • To work and remain in Ireland for 2 years, with permission to enter multiple times
    • Access to medical insurance and public funds
    • Family members are allowed to come along with the applicant.
    • Permission of renewal of residency for further three years on the basis of good character, maintaining of medical insurance and not having resources to public funds and the investment remaining in place along with an evaluation by Evaluation Committee of success or viability of investment.
    • Applicants are allowed to apply for permanent residency after completing 5 years of residence in Ireland.

Eligible Family Members
Residential status is also available to family members (spouse or partner and children under 18) on similar terms, as offered to the applicant.
Documents required

  • Evidence of their marriage or civil partnership is legal.
  • Children of applicant are eligible for residency if the applicant qualifies the evidence of children being legally in his/her guardianship also; they are unmarried and are not in any relationship.
  • Applicants are also required to provide proof that they have been in cohabitating with their partner in a common law relationship for previous 2 years.

Note: residency status could be withdrawn if the acquisition of status is founded fraudulent, is found subject of deportation order or any criminal record is obtained or else the applicant fails to meet all the requirements.

Assessment

We at TIMES CONSULTANT offers our best services to help guide and make you succeed in your Visa Application. Our years of experience and trained and professional counselors are known for being most informative consultants and have track record of most successful cases. If your query is related to immigration then please send us an email at immi@timesconsultant.com your contact details along with short profile and our senior executives will inform you about assessment outcome shortly. For all matters our processing team performs a detailed assessment on applicant’s profile and reviews your age, education, profession, work experience, personal assets and other necessary requirements to respond properly.

Feel free to contact us for more information about different universities, entry criteria, scholarships, admission and visa process contact your nearest Times Team. No appointment is needed for student visa information. Please reserve your appointment for any other information by calling at 0300 8249640 or by email at immi@timesconsultant.com.

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