New clients considering immigration investment frequently ask if we can share any information about successful applications.
Of course, we must always remain confidential, but we share this case study which hopefully will allow you learn more about successful applications and how we may be able to assist with your case.
Our client is a non EEA national living in his home country which is threatened with instability. He is a married person who sees the advantages of obtaining Irish residency.
He is attracted by both the process and Ireland itself.
The process is quick (estimated 10 weeks from submission of application to obtaining residency), there is no minimum residency requirement (one day per year only) and his spouse would also obtain residency in her own name.
As to Ireland, it appeals as being safe and stable with a strong rule of law, English speaking and multi-cultural with reasonable levels of taxation.
Having considerable personal wealth, he opts for the programme based on purchasing an immigrant investor bond (€500,000.00) and the purchase of a residential property (value in excess of €450,000.00).
Residency in Ireland for his wife and he for two years, renewable for a further three years with the ability to work and/or run a business without restriction together with a multi entry visa for the same period;
Having formal approval from the Minister, our client and his wife applied for and were granted visitor visas to travel to Ireland where they completed an affidavit attesting to their good character and lack of criminal convictions.
Details of a suitable residential property in which he is interested were submitted and the following day by appointment at the Department of Justice, the permission was endorsed on his passport;
The bond is purchased through the Department of Justice (who are brokers for the National Treasury Management Agency which issues the bond.)
Our client has the choice of living in Ireland or his country of origin for the next two years. He can continue to run his successful business in his home country while building up business interests in Ireland. At a minimum he and his wife will have to visit once a year. After two years, he will seek renewal by showing that he has completed the property acquisition and has not committed a crime nor had recourse to state funds in the intervening period (e.g. by claiming social welfare). Provided he satisfies these conditions, his renewal will be for three years. After three years, he can apply for long term residency and, if he has made Ireland his principal place of residence, he can apply for Irish citizenship.
Apart from the usual documents required in routine immigration applications (e.g. original passports and marriage certificate duly translated), he had to demonstrate that he had sufficient funds to purchase the immigrant investor bond and the residential property and confirmation he was actively pursuing a suitable property.
He was able to demonstrate his personal wealth by personal bank statements showing the amount of funding available for the previous three months.
To prove the source of his funds, he supplied a verification letter from a registered legal adviser permitted to practise in the country his business activities are operating.
A letter from his bank confirmed that the funds could be transferred into Ireland.
He had to submit a statement of character from the police authorities in his country of origin and a clearance certificate from a duly recognised risk consultant in respect of other countries in which he had resided in the last 10 years.
Apart for the property acquisition costs (which included stamp duty at 1% of the property value) and the cost of the bond (€500,000.00 redeemable after 5 years at 0% interest) (which included stamp duty at 1% of the property value), the total cost of the process was €13,600.00 including all legal fees, application fees and ancillary costs.
The Irish programme compares very favourably with other jurisdictions and is a perfect fit for our client who is seeking the option of a safe place to live and carry on business without onerous restrictions.
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I received a phone call late yesterday afternoon informing me that I had been awarded supplementary welfare. Thank you so much for your encouragement, I have been very low and disempowered in this whole story and couldn't have faced the SWO again without your support.
Many thanks for all the support and guidance over the past number of years. If I ever need a solicitor for any reason (but let’s hope not!) I’ll be back- but in any case I’m happy to recommend you to anyone who needs legal support and advice!
Just to let you know that I today received my foreign birth certificate from the Department of Foreign Affairs. I would like to thank you again for your excellent work on my behalf. You made the whole process simple, fast and efficient in a way that I could never have done on my own.
Our team is here to advise you on your options.
If you are considering
Click below to use our simple form to outline your situation.
We will assign a solicitor to your case.
OR
Call to talk to a solicitor.
Office hours: Mon-Fri 9am-5pm
+353 (0)1 8735012
We quickly assess your situation. If our solicitors can help we will respond with a strategy and fee estimate.
Click below to use our form, find out about fees, and to learn your options.