Ireland ~ Residence Permit for Innovative Entrepreneurs
Time to Permanent Residency: 5 Years ~ Time to Citizenship: 8 Years
Under the Start-up Entrepreneur Programme, foreign entrepreneurs may obtain a temporary residence permit in Ireland if their start-up project is considered a High Potential Start-Up (HPSU) venture.
Applicants must be the main founders or decision makers in the business (e.g. CEO, CFO, CTO, CIO).
To qualify, founders must have secured funding of at least €50,000 for their start-up venture. For second and subsequent founders CEO, CFO, CTO, CIO etc., an additional €30,000 of funding will be required.
Funding may be derived from their own resources, a business loan, business angel, venture capital or grant from an Irish state agency.
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The Evaluation Committee of Enterprise Ireland (EI) will assess the business project according to the following factors:
– Introduces a new or innovative product or service to international markets.
– Capable of creating 10 jobs in Ireland and realizing €1 million in sales within three to four years of starting up.
– Led by an experienced management team.
– Headquartered and controlled in Ireland.
– Less than six years old
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The STEP programme is not aimed at investors who purchase an active business.
Spouse/partner and children may be included in the application.
The residence permit entitles individuals to live and work for 2 years in Ireland.
To renew the permit, start-up must be operating and have secured an assessment by the Evaluation Committee stating its success and viability.
If the assessment is positive, a 3-year residence permit extension will be granted. After the 3 years, residents may renew their residence permit in 5 year installments, regardless of the performance or existence of the business.
After 8 years of residency, residents may be eligible for naturalization, provided that they have have been residing for 365 days of continuous reckonable residence immediately before the date of the application for naturalization and, during the 8 years preceding that he or she have had a total reckonable residence in the State amounting to 1,460 days (4 years). Citizenship candidates may be required to attend to an interview and pass an Irish examination on culture, history and values of the country.
Requirements
– If the applicant is applying in respect of an existing business enterprise that is relocating to Ireland, the most recent audited accounts for that business should be submitted in support of the application.
– A comprehensive business plan for the innovation start-up proposal will be required for scrutiny by the Evaluation Committee. The business plan should indicate all locations for the start-up proposal (i.e. Ireland and elsewhere) and how many employees will be located in each country.
– Evidence of the funds that are to be used for the proposed start-up, the providence of those funds and the ability of the applicant to transfer those funds to Ireland.
– Comprehensive health insurance.
– Clean criminal record.
Documents Required
Business Plan- Original and photocopy of passport
- Two passport-size photos
- Original or Certified copy of Marriage Certificate (if applicable)
- Original or Certified copy of Birth Certificate (if applicable)
- Statement of Source of Funds
- Evidence of funds available
- Original Police Clearance Certificate
- Receipt of payment of fees
