Fiscal Migration Ireland.
THE SCF GROUP HAS BEEN ADVISING ON IRISH FISCAL MIGRATION FOR OVER 15 YEARS
FISCAL MIGRATION – IRELAND (REPUBLIC OF)
THE 2013 IMMIGRANT INVESTOR PROGRAMME
The Republic of Ireland has introduced a high net worth Immigrant Investor Program for non- European Economic Area (EEA) nationals, which allows individuals and their families to secure a safe haven automatic right of residency to live in the Republic of Ireland (A full EU member since 1973) WITHOUT actually having to commit to reside in Ireland until business and/or economic circumstances require such relocation. It is though that such a scheme is likely to attract wealthy Chinese, Middle East and Russian nationals wishing to have an automatic right to reside in a highly developed, risk free, English speaking and prestigious jurisdiction. Unlike countries offering similar schemes such as Cyprus, Ireland has a robust economy at witnessed by its recent and unique ability to remove itself from its EU/IMF bailout in December 2013. It should be further noted that if and when investors take up permanent residence in Ireland they will also have the option of applying for an Irish passport, which is considered one of the best and most useful in the World.
The investment by the non-EEA national has to be beneficial for Ireland, good for jobs and also in the public interest. The funds invested have to have been legally acquired and directly owned by the investor (i.e. not borrowed). All applicants have to be of good character.
|Investment Option||Irish Residency Scheme post 15th of July 2013|
|Immigrant Investor Bond||€1m invested in the bond at 0% interest rate|
|Enterprise investment||€500,000 invested in an Irish Enterprise for 3 years|
|Investment Funds||€500,000 invested in an approved fund|
|Mixed investment||Investment in a residential property of minimum value of €450,000 and a straight investment of €500,000 into the immigrant investor bond, giving a minimum investment of €950,000. The level of investment into the bond would no longer be linked to the value of the property purchased.|
|Endowment||€500,000 philanthropic donation by an individual (€400,000 where 5 or more individuals pool their endowment for one appropriate project).|
How Residency Permission is granted to successful applicants: Successful applicants can expect to receive residence permission for 5 years. An initial permission will be granted for two years and following a review at that point to ensure the investor is continuing to meet the conditions of the scheme (i.e. the investment has not been withdrawn, they continue to be law abiding and self-sufficient), a further period of 3 years will be granted. After this initial 5-years period, the investor will be free to apply for residence in 5 year tranches. The investor is not required to establish actual residence in Ireland. The Immigrant Investment Program is about rights of residence that the investor may exercise as their business and family needs dictate. No minimum residence requirement is set other than the stipulation that the persons concerned should visit Ireland at least once in every 12-month period *.
For more information on our Irish fiscal migration, relocation and property finder services please contact an SCF Consultant.
* Source = The Irish Naturalization and Immigration Service (INIS)
PRIORITY ENQUIRY FORM
(Strictly Confidential No Obligation)
SCF International is the trading name of SCF Corporate Services Limited
Address: 1st Apriliou 47, Limassol, 3117 Cyprus
Telephone: +357 25 771 570 Email : email@example.com
Registration number HE 341030
Malaysia: KL Marketing Office, B-7-6, Megan Avenue II, Jalan Yap Kwan Seng, 50450 Kuala Lumpur, Malaysia
A FULL RANGE OF LEGAL, ACCOUNTANCY & COMPANY MANAGEMENT SERVICES
The SCF International specializes in providing accountancy services for Cypriot limited companies, Cypriot company management services including the provision of (where necessary) domestic directors, domestic company secretaries, registered office address services, trading offices, value added tax (VAT) registration and management, payroll (Pay as You Earn PAYE), opening up and managing bank account facilities, raising invoices and any and/or all other services required to establish a bone fide managed and controlled UK limited liability company.
The SCF International also specializes in providing accountancy services for Irish limited companies, Irish company management services including the provision of (where necessary) domestic directors, domestic company secretaries, registered office address services, trading offices, value added tax (VAT) registration and management, payroll (Pay as You Earn PAYE), opening up and managing Irish bank account facilities, raising Irish invoices and any and/or all other services required to establish a bone fide managed and controlled Irish limited liability company.
Our in-house team of legally and accountancy qualified experts can also provide advice on current UK & Irish tax laws/provisions including anti-avoidance provisions, EU directives and regulations, the impact of BREXIT for both UK and EU based businesses and other relevant. In addition, where required the SCF Group can also set-up and arrange the management of companies in tax attractive EU based jurisdictions such as Cyprus, Luxembourg or Malta or indeed any jurisdiction in the world including those in the Middle and Far East.
Property de-enveloping services – In conjunction with leading UK firms of solicitors SCF International can help transfer companies currently held by what were known as ‘offshore’ companies into either more tax efficient UK companies or directly back into the names of individual beneficial owners’ often without attracting stamp duty land tax (SDLT) but still avoiding the advance tax on enveloped dwellings (ATED). For more information please see https://www.de-enveloping.co.uk
Our fiscal migration and tax planning department is operated by qualified lawyers and accountants and can advise both domiciled and non-domiciled individuals on how to mitigate their individual and corporate tax exposure be it in Cyprus or internationally. Our legal & business department can provide specialized advice on all domestic and international tax planning issues but also upon ‘key’ issues such as asset protection be it in the form of trusts, private interest foundations (PIF’s), pre-nuptial and post-nuptial agreements, divorce and general family law, legal drafting, leave to remove applications etc