Residence for STEP Founders in Ireland

STEP residence permission (Stamp 4)

Once the funds are transferred to an Irish business bank account, the founder receives permission to reside and work in Ireland for 2 years, together with a multiple-entry visa for the same period where one is needed. Holders must keep private medical insurance and may not rely on public funds. Renewal for 3 more years depends on the start-up remaining in place, a fresh assessment by the evaluation committee of its success or viability, continued good character and the insurance condition. After that, permission can be renewed in 5-year instalments. If the venture fails, immigration status is reviewed and the founder may need to apply on another basis.

First grant

2 years, with a multiple-entry visa if required

First renewal

3 years, after an evaluation committee review

Later renewals

5-year instalments

Registration fee

EUR 300 for an Irish Residence Permit, unless exempt

Health cover

Private medical insurance required

Public funds

No recourse to publicly funded welfare programs

Family

Spouse or partner and minor children on similar terms

Requirements

• Proof that the approved funds were transferred to a business bank account in Ireland.
• Private medical insurance for the founder and accompanying family throughout the permission.
• The start-up still operating at renewal, with the committee satisfied about its success or viability.
• Continued good character for the founder and family members.
• Spouses show a legal marriage or civil partnership; unmarried partners show two years of cohabitation.

How to apply

1. Transfer the funding and receive the 2-year permission letter.
2. Register the permission and pay the EUR 300 registration fee unless an exemption applies.
3. Before the permission ends, apply for renewal with evidence of the start-up's progress.
4. Renew again in 5-year instalments while the conditions continue to be met.

Immigrant Investor Programme (IIP)

Status: Closed to new applications from close of business on 15 February 2023

The Immigrant Investor Programme was introduced in 2012 to attract inward investment in exchange for residence. Government approval to close it to further applications took effect at close of business on 15 February 2023, after concerns raised by the European Commission, the Council of Europe and the OECD about investor migration schemes. Applications already on hand at that time are still being processed to a final decision, and the Department has said this will take a number of years. Projects and investors approved before the closure are unaffected, and approved projects may still source new investors to complete their funding.

Status

Closed to new applicants since 15 February 2023

Pending cases

Applications lodged before closure still being decided

Approved projects

May still take in investors to complete funding

Replacement

None planned, the Minister said in April 2023

Requirements

• No new investor applications have been accepted since close of business on 15 February 2023.

How to apply

1. Investors with a pending or approved case follow the closure FAQs published by Immigration Service Delivery.