There has been some exciting news relating to the Irish start-up community this morning.
The Irish Government is set to announce a new scheme that makes it easier for non-European investors and entrepreneurs to do business in Ireland. Various Irish media outlets have today reported that Minister for Justice, Alan Shatter will announce the new Immigrant Investor Programme and the Start-Up Entrepreneur Programme in March.
So what does this mean for non-European investors and entrepreneurs? Let’s begin with the entrepreneurs. Migrants with an innovative business idea and who have secured at least €70,000 in funding can be given residency for the purposes of developing their business. As the official press release points out, this compares with a previous minimum funding requirement of €300,000.
For potential non-European investors, the Immigrant Investor Programme will allow approved participants and their immediate family members enter Ireland on multi-entry visas and to remain here for a defined period (ordinarily 5 years – this is reviewed after 2 years).
The criteria for investors include:
- An investment of between €400,000 and €2m depending on the duration of financial commitment
- Capital investment in an Irish business (job creation, property purchase etc.)
The Irish government has acknowledged that this initiative has been set up to compete with similar schemes in the US, UK, Canada, Australia and New Zealand.
So, if any of you non-European investors are interested in teaming up with an ambitious, Enterprise Ireland-backed start-up, you should speak to us at Dingadeal.com. We launched in December and are growing fast.
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