Changes to Immigrant Investor and Entrepreneur Schemes

We receive a lot of queries from clients interested in the immigrant investor and entrepreneur schemes. We note with particular interest the changes that have been introduced by Minister Shatter which have taken effect from the 15th March in relation to the High Potential Start Up category of application which are:

• The required minimum investment will be reduced from €75,000 to €50,000. Where more than one principal is involved in establishing the business the minimum investment for second and subsequent entrepreneur will be €30,000 per principal.

• A 12 month immigration permission will be made available for foreign national entrepreneurs attending incubators or innovation bootcamps in Ireland. The 12 month permission will allow these entrepreneurs to prepare an application to the STEP and thus provide an identifiable route for migrant entrepreneurs to move from the start-up to realisation phase of their projects. This 12 month period will also be made available to non-EEA students who graduate with advanced STEM (Science, Technology, Engineering, and Mathematics) degrees in Ireland and who wish to work on preparing an application for the STEP.

• There will be more emphasis on the marketing and promotion of the scheme and on aligning the STEP within our national strategy to promote Ireland as a world class business location.