A non-EU national who intends to come to Ireland in order to establish a business will require the permission of the Minister for Justice and Equality and must obtain Business Permission.
When applying for Business Permission, a Non-EU citizen must create employment (other than their own) and demonstrate they are making a personal investment of at least €300,000.
There are a number of categories of non EU nationals who are exempt from the requirement to obtain Business Permission. The categories are:-
- Persons who have been granted refugee status by the Minister for Justice and Equality.
- Dependent relatives of EEA nationals exercising a valid right to reside in Ireland.
- Persons who have been granted permission to remain in the State on one of the following three grounds:-
- Persons with permission to remain as the spouse of an Irish national.
- Persons with permission to remain in Ireland on the basis that they are the parent of an Irish born child (an Irish citizen).
- Persons who have been granted temporary leave to remain in the State on humanitarian grounds, having been in the asylum process.
It should be noted that other than the categories listed above there are no exemptions to the investment requirement of €300,000
Before submitting an application you should ensure that you can meet the following criteria;-
You must have not less than €300,000 of your own money available to make an investment into business in Ireland. You will have to supply documentary evidence from your financial institution confirming that the funds are available to you. If the funds are held in Ireland, the financial institution used by you must be regulated by the Financial Services Authority of Ireland (CBFSAI). The Financial Services Authority of Ireland is the official financial regulatory body in Ireland.
The proposed business must create employment for at least two EEA nationals for a new project or, at the very least, maintain employment in an existing business;
The proposed business must add to the commercial activity and competitiveness of the State;
The proposed business must be a viable trading concern and provide the applicant with sufficient income to maintain and accommodate themselves and any dependants without resorting to social assistance or paid employment for which a work permit would be required;
The applicant must be in possession of a valid passport or national identity document and be of good character.
You must also submit –
Your valid passport or national identity document;
Your registration certificate if you are already residing in the State;
A statement of character from the police authorities of each country in which you have resided for more than six months during the 10 year period prior to your making an application;
Business plan which addresses points (1) to (5) above. This business plan must be endorsed by a firm of accountants or a financial institution involved in venture capital.
You must provide detailed proof of your own skills levels to undertake such a business including, where applicable, academic qualifications in the particular field, details of apprenticeships, evidence of previous business experience, all qualifications relevant to the proposed business and general experience.
References from former employers.
Original documentation showing the funds available to invest in the business venture must be on the financial institution’s headed paper and have been issued within two months immediately preceeding the application. In addition, each letter should confirm that the institution is regulated by the appropriate body, your name and the date of the document.
Details of where the business will operate from, including layout specification and lease/rental plans.