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Everything you need to know before buying real estate is included in our Ireland Property Pack
Ireland's investment-based residency landscape changed dramatically in February 2023 when the government closed its Immigrant Investor Programme (IIP).
This closure means that buying property in Ireland no longer provides a direct path to residency, unlike programs that existed until early 2023. Currently, the only investment route to Irish residency is through the Start-up Entrepreneur Programme (STEP), which requires establishing an innovative business rather than purchasing real estate.
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Ireland closed its Immigrant Investor Programme in February 2023, eliminating all investment routes to residency including real estate purchases. The only current investment path is the Start-up Entrepreneur Programme requiring €50,000 and an innovative business plan.
Direct property purchase in Ireland does not grant any immigration benefits, with no "Golden Visa" program currently available for new applicants.
| Aspect | Current Status (2025) | Previous IIP (Until Feb 2023) |
|---|---|---|
| Property Purchase Route | Not available | €2 million REIT investment only |
| Investment Programs | STEP only (€50,000 business) | IIP (€1-2 million options) |
| Direct Real Estate | No immigration benefits | No immigration benefits |
| Minimum Investment | €50,000 (STEP business) | €500,000-€2 million |
| Business Requirement | Mandatory for STEP | Optional enterprise route |
| Family Inclusion | Yes (STEP) | Yes (IIP) |
| Path to Citizenship | After 9 years residence | After 5 years residence |
What are the different ways to get residency in Ireland through investment, and does buying property count?
As of June 2025, Ireland no longer offers investment-based residency programs except for the Start-up Entrepreneur Programme (STEP).
The Immigrant Investor Programme (IIP), which operated from 2012 to February 2023, has been permanently closed to new applicants. This program previously allowed non-EEA nationals to obtain residency through investments ranging from €500,000 to €2 million.
Direct property purchase in Ireland has never qualified for residency benefits. Even under the former IIP, only investments in Real Estate Investment Trusts (REITs) with a minimum €2 million investment could lead to residency, not direct property ownership.
Currently, the only investment route to Irish residency is through STEP, which requires establishing an innovative business with €50,000 in funding rather than purchasing real estate.
Traditional property investment in Irish real estate provides no immigration advantages and should be considered purely as a financial investment decision.
Is there a Golden Visa or Citizenship by Investment program in Ireland?
Ireland does not currently operate any Golden Visa or Citizenship by Investment program as of June 2025.
The country's Immigrant Investor Programme, commonly referred to as Ireland's "Golden Visa," was permanently closed to new applications on February 15, 2023. The Irish government cited concerns raised by the EU Commission, Council of Europe, and OECD regarding border security, money laundering, tax evasion, and circumvention of EU law.
Unlike some other countries, Ireland never offered direct citizenship by investment. The former IIP provided a pathway to residency, which could eventually lead to citizenship through naturalization after meeting specific residence requirements.
The government stated that the program had fulfilled its purpose when the Irish economy needed investment, but changed circumstances meant such investment routes were no longer suitable for the country's thriving economy.
As we reach mid-2025, no replacement investment program has been announced, leaving the Start-up Entrepreneur Programme as the only investment-related route to Irish residency.
What is the minimum investment amount required to qualify for residency in Ireland?
The minimum investment required for residency in Ireland through the currently available Start-up Entrepreneur Programme is €50,000.
STEP requires applicants to demonstrate access to €50,000 in funding to establish their innovative business in Ireland. If there are multiple principals in the business proposal, each additional principal needs to prove access to an additional €30,000.
The funding can come from personal resources, business loans, angel investors, venture capital funding, or a combination of these sources. The key requirement is that applicants must prove they have legitimate access to these funds and can transfer them to Ireland.
This represents a significant reduction from the former IIP requirements, which ranged from €500,000 (for philanthropic endowments) to €2 million (for REIT investments). However, STEP has stricter business operation requirements compared to the passive investment nature of the former IIP.
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Can I invest in Irish real estate to obtain residency, and are there restrictions or preferred zones?
Direct investment in Irish real estate does not qualify for residency under any current Irish immigration program.
Property purchases in any location across Ireland - whether in Dublin, Cork, Galway, or rural areas - provide no immigration benefits. This includes residential properties, commercial real estate, land, or development projects.
Even under the former Immigrant Investor Programme, direct property purchases were excluded. Only investments in Irish Real Estate Investment Trusts (REITs) listed on the Irish Stock Exchange with a minimum €2 million investment qualified, and this option is no longer available.
There are no preferred zones or geographic restrictions because real estate investment simply doesn't qualify for any residency pathway. Whether you purchase property in high-demand areas like Dublin's city center or in rural counties, the immigration outcome remains the same - no residency benefit.
Foreign nationals can freely purchase Irish real estate as an investment, but this should be considered purely for financial returns, rental income, or personal use rather than as an immigration strategy.
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Is there a business investment route to residency, and what are the specific requirements and sectors eligible?
Yes, the Start-up Entrepreneur Programme (STEP) provides a business investment route to Irish residency, but with specific requirements for innovative start-ups.
STEP requires applicants to establish a "High Potential Start-Up" (HPSU) which must introduce a new or innovative product or service to international markets. The business must be capable of creating at least 10 jobs in Ireland and achieving €1 million in sales within 3-4 years of operation.
Eligible sectors focus on the innovation economy, particularly manufacturing, internationally traded services, and technology. The program explicitly excludes retail, catering, personal services, and similar local-focused businesses.
Key requirements include being headquartered and controlled in Ireland, having an experienced management team, and being less than 6 years old. The business must represent genuine innovation rather than simply replicating existing services.
Applicants must demonstrate they will operate the business full-time and cannot take other employment in Ireland while under STEP residency. The program targets experienced entrepreneurs with proven business capabilities rather than passive investors.
What is the application process for residency through investment, and how long does it typically take?
The STEP application process involves submitting documentation to an independent evaluation committee that assesses proposals quarterly.
Applications require a completed STEP form, comprehensive business plan, proof of €50,000 funding, evidence of funding sources, character references, and comprehensive health insurance documentation. The non-refundable application fee is €350 covering the main applicant and family members.
The evaluation committee reviews applications based on innovation potential, export capability, job creation prospects, and management team experience. The committee includes officials from multiple government departments with relevant expertise.
Processing typically takes 12-16 weeks from submission to decision, depending on the complexity of the business proposal and completeness of documentation. Incomplete applications are returned, potentially causing delays.
If approved, applicants must transfer funds to an Irish Central Bank-regulated institution and provide an affidavit of good character from an Irish licensed lawyer before receiving their residence permit.
Once residency is granted, how long is the permit valid, and can it be renewed?
STEP residency permits are initially valid for 2 years and can be renewed for additional 3-year periods.
The first renewal extends residency for 3 years (total 5 years), subject to maintaining the business, passing viability assessments, demonstrating good character, and maintaining private medical insurance without becoming a burden on public funds.
After the initial 5-year period, permits can be renewed in 5-year increments provided the holder continues to meet program requirements. Unlike the former IIP, there is no specific minimum physical presence requirement for STEP renewal.
Renewal assessments examine whether the business remains viable and continues to contribute to the Irish economy. The evaluation committee conducts regular reviews to ensure compliance with original business plan commitments.
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Does Irish residency through investment offer a path to permanent residency or eventual citizenship?
Irish residency through STEP can lead to citizenship, but requires 9 years of residence compared to 5 years under the former IIP.
STEP does not provide a preferential pathway to citizenship. Holders must follow standard naturalization procedures, which require 9 years of continuous residence with specific physical presence requirements.
For citizenship eligibility, applicants must be physically resident in Ireland for at least 1 year immediately before application and for 4 of the preceding 8 years. This represents substantially stricter residence requirements compared to maintaining STEP status.
Unlike the former IIP where minimal physical presence maintained residency status, citizenship requires genuine residence in Ireland. Applicants must demonstrate integration into Irish society and may need to pass examinations on Irish culture, history, and values.
After 5 years under STEP, holders can apply for long-term residence status, which provides more security but still requires eventual physical presence for citizenship applications.
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Can I include my family (spouse and children) in the residency application, and what are the conditions?
Yes, STEP allows family inclusion with specific conditions for spouses and dependent children.
Eligible family members include the main applicant's legal spouse or civil partner and dependent children under 18 years old. Children between 18-24 may be included if they are unmarried, financially dependent, and enrolled in full-time education.
Family members receive the same residency permissions as the main applicant, with initial 2-year permits renewable for 3-year periods. They have the right to live, work, study, or start businesses in Ireland without requiring separate employment permits.
All family members must meet character requirements, maintain comprehensive health insurance, and not become a burden on Irish public funds. They must also comply with any conditions attached to the main applicant's permit.
The €350 application fee covers the main applicant and all qualifying family members, making it cost-effective for families compared to separate individual applications.
Are there any obligations to reside in Ireland a certain number of days per year to maintain residency status?
STEP does not specify minimum physical presence requirements for maintaining residency status, unlike the former IIP which required one annual visit.
However, STEP holders must operate their approved business full-time in Ireland, which implies substantial physical presence for business operations. The permit conditions require active business management rather than passive investment.
STEP holders cannot take other employment in Ireland and must focus exclusively on their approved start-up venture. This effectively requires significant time in Ireland for legitimate business operations.
For citizenship applications, much stricter physical presence requirements apply. Applicants must be resident in Ireland for at least 1 year immediately before application and 4 of the preceding 8 years, requiring genuine residence rather than token presence.
Renewal assessments examine business viability and continued operations, which would be difficult to maintain without substantial presence in Ireland.
What are the real experiences of people who have successfully obtained residency in Ireland through investment?
STEP participants generally report positive experiences with Ireland's business-friendly environment and access to EU markets, though the program requires active business management.
Successful applicants highlight Ireland's advantages including low corporate tax rates (12.5% for active businesses), R&D tax credits up to 25%, and access to skilled workforce from top universities. Many appreciate Ireland being the only native English-speaking EU member post-Brexit.
Entrepreneurs value Ireland's position as a gateway to both EU and UK markets, with many multinational companies choosing Ireland as their European headquarters. The supportive ecosystem of accelerators, incubators, and experienced mentors provides valuable networking opportunities.
Families particularly appreciate access to high-quality education systems and healthcare, with children able to attend Irish schools and universities on the same terms as Irish citizens.
Common challenges include the need for full-time business commitment, which prevents other employment opportunities, and the requirement to achieve ambitious job creation and revenue targets within specific timeframes.
Have there been notable rejections or failures in the process, and what were the common mistakes or pitfalls?
Common STEP rejections occur due to inadequate business plans, insufficient innovation demonstration, or failure to prove genuine funding access.
Applications frequently fail when business proposals don't clearly demonstrate international market potential or job creation capabilities. The evaluation committee rejects projects that appear to be simple service businesses rather than genuine innovation ventures.
Funding-related rejections occur when applicants cannot prove legitimate source of funds or fail to demonstrate transferability to Irish financial institutions. Some applicants underestimate the documentation required to satisfy anti-money laundering requirements.
Business plan deficiencies include unrealistic financial projections, lack of market research, insufficient management team credentials, or failure to explain how the venture will achieve the required 10 jobs and €1 million sales targets.
Character-related issues, including incomplete criminal background checks or failure to provide required documentation from all relevant jurisdictions, also lead to rejections. The evaluation committee's decisions are final with no appeal process available.
It's something we develop in our Ireland property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
As of June 2025, Ireland has significantly limited investment-based residency options following the closure of its Immigrant Investor Programme in February 2023.
The Start-up Entrepreneur Programme remains the only viable investment route to Irish residency, requiring genuine business establishment rather than passive real estate investment.
Sources
- Irish Immigration Service - IIP Closure FAQs
- Government of Ireland - Minister Harris Announces IIP Closure
- Irish Immigration Service - STEP Programme
- Global Citizen Solutions - Ireland Startup Visa Guide
- Relocate.me - Ireland STEP Programme Guide
- Wise - Ireland Startup Visa Guide
- Nomad Capitalist - Ireland Entrepreneur Visa
- RTÉ - Investigation into Axed Golden Visa Scheme