Immigrant Investor VS Start-up visa VS Critical Skills Permit (Ireland)

Successful applicants for the Ireland Immigrant Investor Programme, Start-up Entrepreneur Programme or Critical Skills Employment visa and their immediate families will be granted residence permission for 2 years initially. Their immediate family means their spouse, civil partner or partner and dependent children aged under 18. In certain cases, children between the ages of 18 and 24 will be considered for residence under the programme. This permission can be renewed for a further 3 years. After these first 5 years, the investor or entrepreneur can apply for long-term residence. If required they will be granted multiple entry visas for the same duration.

Ireland has a Critical S¬kills Employment Permit, which is designed to attract highly skilled people into Ireland, with the aim of encouraging them to take up permanent residence in Ireland.

This includes:

a. Jobs with a¬¬¬nnual salaries of €32,000 or more and where you have a relevant degree – the occupation must be on the Highly Skilled Occupations List.
¬¬
b. Jobs with annual salaries of €64,000 or more and where you have the necessary level of experience – all occupations (other than certain ineligible work categories and those which are contrary to the public interest).

Foreign nationals can engage an Irish director to establish an Irish company. If the Irish company meets certain conditions (incorporation, bank account set up, employer registration and tax registration), then please you can be sponsored for the visa.

The current ‘50:50’ rule requires employers to show that at least 50% of their employees are EEA nationals, where they are seeking an employment permit to hire non-EEA nationals. This rule is satisfied by employing an Irish director.

This visa pathway involves you:

1. Establishing a Newco in Ireland (of which you would have 100% share ownership and control); and

2. Employing an Irish director for at least 10 hours per week (to satisfy the 50/50 rule) (€10.10 per hour for at least 10 hours per week / €438 per month / €5,252 per annum)).

Apply for work permit for your spouse (optional)

Your dependent family members enter on a stamp 3 visa. This does not come with a permission to work. A separate application must be made. Your spouse can then take up any employment (unrestricted). Employment visa (including preparation, submission).

Your spouse and children have the right to education and healthcare in Ireland.

Hi in this livestream I’m going to explain the differences between the immigrant investor program the start-up visa program and the critical skills permit routes for Ireland now of course at the moment if you’re coming to Ireland it’s not the case that most of the companies come under the immigrant investor program to investing 1 million euros or indeed through the start-up our program if you’re medium sized or a large company then you’re more likely to be coming to the UK on a work payment under the work permit regime and there’s a very clear pathway to doing so it does involve engaging an Irish director which I think is the main difference from the residency by investment reads and the this start-up visa route so you need to have a company established and therefore you’d need to engage an Irish director and the reason for that is they have a 50/50 rule in Ireland whereby for every foreign board rather than non-European a worker who’s engaged there must also be a local Irish worker engaged so it makes sense to have a direct of your entity now there’s broadly speaking to routes and just give you an overview so the critical skills employment permit is designed to attract highly skilled people to Ireland with the aim of encouraging them to take up permanent residence there and the two pathways of these so first of all jobs with an annual salary of 32,000 euros or more where you have a relevant degree and you’ve got to be in the highly skilled occupations list and I’ll show you here what that involves but it includes production managers and directors and it also includes business research and administrative professionals and it also includes quality and regulatory professionals and perhaps even more importantly ICT information communications technology professionals so as an entrepreneur particularly if you have a successful company already abroad you were looking to set up a branch of it in Ireland then the pathway for doing so would generally involve in setting up and incorporating the company in Ireland engaging an Irish director alive or team in addition to any team you’re bringing over and the route for you being engaged by the Irish entity under a critical skills permit I would depend on whether you fall within one of these roles and I think ICT professionals probably the broadest but you know it also includes sales marketing and related associate professionals as well so if you fall within one of those very broad categories then you can be engaged by your Irish entity under the critical skills regime now you need to have relevant degree as well if you don’t however fall within those categories then you can still be engaged for sixty four thousand euros or more where you have the necessary level of experience and that covers all occupations subject to some exclusions which I’ll just put here I’m you can pause the video if you want to have a look at those exclusions but they’re really for you know very sort of basic rules that are deemed to be low-skilled construction and building trades printing trades textile and garment trades so there are some important exclusions there plant operatives so roles for which you would not require a high level of education necessarily so it’s long as you don’t fall within one of those exclusions then just you’ll be captured if you can be paid sixty four thousand by the Irish entity that that incorporated under your company group so I’ve just put a note here that foreign nationals can engage an Irish director to establish an Irish company it’s got to meet certain conditions so incorporation bank account set up employee registration and tax registration then then the entity can sponsor you for the visa now there are various supporting documents that are required I’ll probably go through these in a different in a different video but what this means of course is that the unless you’ve got what there are great many people who already have businesses in there something up branches of them in Ireland and they don’t necessarily fall within innovative criteria you know the innovation level is required by the start-up visa which is typically looking for you know industry disrupting type businesses and apps and that sort of thing and if you don’t fall within that you have a more traditional business model even if you have traditional business model with a digital element then you might just want to set up a branch of your existing entity rather than going through the start-up route and you may not necessarily either have or wish to invest 1 million euros in one of the approved investment schemes that I’ve covered in in other videos on my YouTube channel here so let’s just have a look at the pathway broadly to citizenship and it’s the same in each case so there’s no real material difference between the three routes you get and in an initial permit so here I’m focusing on the critical skills permit so you’d get that you need to renew it after one year and once you’ve accrued two years then you can apply for the stump for visa and then adhere five you can apply to naturalize as an Irish suits and or if you know if you haven’t spent long enough in Ireland then you can simply apply to extend that stamp for visa you can just continue renewing it and there has been some case though recently on how much time you need to spend in Ireland in year five in this case or in the last year and the composition case always you need to spend all of your time in in in Ireland in that in that year but in the other years you can have up to three months out now for some people particularly for my clients they can’t particularly if you’re you know an international businessman and you have interests in various different jurisdictions you can’t be necessarily be expected to spend only three months out of Ireland in each of those years you may need to spend more than that time but that’s fine because you can do so you’re not going to be breaching your visa conditions in doing so it just means that by the time you come to apply for citizenship that that you may not qualify so we would do is if you had your family for example staying in Ireland then they would they would qualify for Irish citizenship has been the majority of the time that if you have children perhaps you have young children or children who you’re thinking about in university education for then they could stay in Ireland a secured Irish citizenship and then at some future point in your life perhaps when you’re coming to retire after having you know renewed your stamp for visa for a number of years you could then settle down and retire in Ireland and accrue the amount of time that you need in order to naturalize as an Irish citizen one of the benefits of Irish citizenship is you get EU citizenship you also get unfettered access to the UK and you’re treated as if you were British suits and you’re not treated any differently in any material ways as an Irish citizen so that gives you complete access and free movement within the EU and gives you complete access to the UK so that’s unique in terms of you jurisdictions now in terms of the actual application process and I’m going to come to the sort of budget that you need as well in a minute but in terms of the application process you would appoint you establish your company your branch in Ireland you do point the ea. director there be a critical skills employment application there’s two to three months processing time and then you’d apply for a long stay d type of employment visa and that gets you through to the end of year two by which time you switch to stamp for visa which is the equivalent of permanent residents now in terms of the I’ve shown you the lists of eligible roles in terms of this sort of budget that you may might need well if you’re on the highly skilled list the highly skilled list here highly skilled occupations list then you would need your salary would need to be thirty two thousand per annum for each of the two years but a subject to income tax so that’s approximately twenty six thousand eight hundred and fifty seven of disposable income after tax that’s based on the 2020 2021 tax rates so that’s five thousand just over five thousand euros is payable for each of the two years by our Irish company in this on that salary and you would need a salary for the director which at the absolute sort of minimum therefore for a two year period would be ten thousand five hundred euros and that’s over the period of two years and that’s calculated on the basis of the current minimum wage for Ireland and you could you can times that by two by three by four depending on how many employees you’re looking to bring over because remember every foreign member of your team who comes over tired you need to manage that with a local with a local worker so then the accountant payroll costs would be about a you know about a thousand euros that would take it to eighty three thousand euros and then you could that in terms of the budget that you would need you there’s some that you’d have need to have available then in terms of the next category that’s if you don’t fall within this height highly skilled occupations list and you can be paid sixty-four thousand euros and you don’t fall within one of these ineligible roles then it would be sixty four thousand times two so one hundred and eighty two hundred twenty eight thousand and then the tax would be about twenty thousand euros leaving forty three thousand disposable income and the sorry for the director would be the same and for any other employees they were subject to that fifty-fifty rule and then you’ve got social insurance contributions and so forth which would mean that the total budget you’d need to have would be about one hundred and 150 so one hundred forty seven hundred fifty thousand euros once you get your stamp for Visa then you can do other be involved in other businesses or secure indeed to secure a job at another company or I set up other entities because you have greater rights under a stamp for Visa so this is the pathway to citizenship I’ve covered in broad terms eligibility the sort of budget you need and the application process I hope that’s helpful Ireland being a committed member of the European Union and part of the common travel area with the UK I think is a great option for you to consider I think if you’re comparing this with the immigrant investor program and the start-up visa program it definitely has attractions if you’re you know an entrepreneurial you already have a business that you’re running and you’re looking to set up a branch of it in the UK following in the footsteps of the other tech giants who’ve come to Ireland including Google Facebook LinkedIn and others thanks very much for watching if you would like to get in contact with me feel free to watch at me or for legal advice and assistance you can email me on the details are below you can also check out my courses which are linked below thanks and bye for now

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