The Start-up Entrepreneur Program provides that non-EEA nationals with an innovative business idea for a High Potential Start-up and funding of €75,000 can acquire residency in Ireland for the purpose of developing their business. Family visa for 2 years, extended for another 3 years. Leads to PR after 5 years in Ireland.
Why Start up in Ireland?
Ireland is probably the most open economy in the developed world. Being open means Ireland benefits from the boom in world trade; equally means it must adapt quickly to changing market conditions. Foreign Direct Investment (FDI) is not new to Ireland. The national drive to encourage overseas companies to locate here began back in the middle of the 20th century. Today, success is measured by Ireland’s continuing ability to attract cutting-edge Foreign Direct Investment as US, European and Asia-Pacific countries demonstrate their growing confidence in locating their overseas business here. Almost 1,000 companies – including many of the best-known world brands – have placed Ireland at the hub of their European networks because of the combination of winning factors Ireland offers. Overseas business and entrepreneurs from abroad find a welcome home in Ireland.
Following are the major benefits of investing in Ireland:
- Favorable Tax regime
- Young & educated English speaking workforce
- Financial support systems for R&D
- Regarded as the best country in Europe to do business
- World’s wealthiest country.
- Ireland is strategically located with easy access to the important markets in Europe, US and the Middle East.
- Ireland is the only English speaking country in the Euro-zone and provides easy access to a market of 500 million people.
- Largest exporters of pharmaceutical and software-related goods and services in the world.
- Other exports include agro-food, cattle, beef, dairy products and aluminum. Ireland’s major imports include data processing equipment, chemicals, petroleum and petroleum products, textiles and clothing.
- Capital City: Dublin
- Currency: Euro
- Population: 5 million
Start-Up Entrepreneur Introduction
- The Irish Government established the program in 2012 to stimulate productive investments in Ireland.
- Allows Non- EEA nationals, with a proven record of success, to set up a high potential Start- up business.
- Start up capital requirement is as low as €75,000 (Approximately Rs. 52 lakhs)
- Visa for 2 years, can be extended for another 3 years.
- PR after 5 years in Ireland.
- Allows you to take your family & PR for family members too.
- No past business experience is required.
- Have a valid form of financial backing of not less than €75,000 (own or business loan).
- Finances to be maintained in the account for at least 3 months and should be transferable anytime.
- The business proposal* must be strong and should be of high potential startups.
- The proposal should project a big enterprise that can realize a sale of 1 million Euros and create 10 jobs in 3-4 years of start-up.
- Service to international market related proposals are considered.
- Meet the health and character requirements.
- Retail, hospitality and personal services are not allowed.
*Y-Axis will help you in strategizing and building your business proposal.
Basic features of this visa
- Low investment. Funds of only approximately Rs.52 Lakhs to be shown.
- Initial visa for 2 years, which can be renewed for 3 more years.
- Long Term Residence for 5 years, provided the business is still operational and the applicant is earning a living without being a burden on the state.
- No employment requirement will exist for the first two years and neither shall the business be required to be profitable at renewal stage.
- Past business experience is not required.
- Family visa for spouse/partner and children.
List of high potential start-up business
- Software services
- IT BPOs
- Healthcare, Medical and Pharmaceuticals industries
- Clean Technology
- Engineering and Electronics
The business plan must comprise of a business in one of the above areas.
Evaluation to check your eligibility: Our subject-matter expert, to confirm your eligibility for Ireland, will evaluate your profile.
First stage processing: Submit the application to the evaluation committee (EC) for assessment and approval of the business plan.
Second stage processing: Residency would be granted upon meeting the following requirements:
a) Transfer of funds to a regulated financial institution in Ireland and
b) Meet Health and Character requirements.
Third stage processing: Visa Endorsement, Travel to Ireland to explore your business opportunities.
Y-Axis Services for Ireland Start-Up Entrepreneur Visa
- Sign up with Y-Axis for a technical evaluation to advise you with the best possible options.
- You will be advised stage-wise in getting approval from the relevant authority.
- Documentation, on the complete process as per the department requirements.
- Application fee: EUR350.00 to be paid to Ireland Immigration department.
- Advice on transferring funds, completing health and character formalities after a final approval.
Post Landing services, if opted
- Air tickets, foreign exchange
- Arranging your accomodation (at your cost)
- Pick up from airport
- Y-Axis Partner: One-hour tour of the country
- Y-Axis Partner: Personal information session on the country
Price List, Fee Structure & Refund Policy
Y-Axis service fee is competitive and among the best you will find in the industry. At any given time, our state of the art Processing Center is processing over 5000 active cases from across the world. Our processing fees are standard and Process Consultants are the best in the world.
Our prices are standard across all our offices. We guarantee that other than company offers & promotions, you will not be quoted a higher price and eventually pay a lower price. Prices are determined by the company and set for all clients, all offices & all cases. You indeed are paying the right price – the same as all our 10000+ clients around the world.
Our advisory services are limited to consultancy and documentation assistance only. Y-Axis does not deal with fraudulent documentation / information submitted by clients. Additional costs will apply like courier charges, notary services, application fees, DD making charges. Accommodation and travel tickets are booked at your cost and will not be covered in the package.