The Irish Startup Visa, officially known as the Start-up Entrepreneur Programme (STEP), offers a pathway for non-EEA nationals with innovative business ideas to establish their companies and reside in Ireland. This guide details the current rules, requirements, costs, timeline, and practical steps for applying for the Irish Startup Visa.
What is the Irish Startup Visa?
Introduced in 2012, the STEP is designed to attract experienced entrepreneurs and professionals with innovative business plans that can contribute to Ireland’s economy. Successful applicants can obtain a two-year residency permit, renewable for a further three years, and potentially leading to permanent residency after five years.
Benefits of the Irish Startup Visa:
- Access to the Irish and European markets: Ireland is a growing business hub with a strong presence of multinational companies and financial institutions, providing access to both the Irish and European markets.
- Path to residency: The STEP offers a clear path to permanent residency after five years, allowing entrepreneurs to establish roots in Ireland.
- Reasonable investment requirement: Compared to other startup visa programs, the Irish Startup Visa has a relatively low minimum investment requirement of €50,000.
- Family inclusion: Successful applicants can bring their immediate family (spouse/partner and dependent children under 18) to Ireland.
Requirements for the Irish Startup Visa:
- Innovative business proposal: The proposed business must be innovative and have the potential to contribute to the Irish economy, focusing on sectors such as manufacturing, internationally traded services, and technology.
- Minimum funding of €50,000: Applicants must demonstrate access to at least €50,000 in funding to establish their business. This funding can come from personal resources, business loans, angel investors, venture capital, or a combination of sources.
- No criminal record: Applicants must have a clean criminal record in any jurisdiction.
- Comprehensive health insurance: Applicants must have comprehensive health insurance coverage.
- Good character: Applicants must be of good character and provide a statement of character from police authorities where they have resided for more than six months in the past 10 years.
Start-up Entrepreneur Programme Flowchart
Application Process
- Complete the STEP application form: The application form can be found on the Irish Immigration Service Delivery (ISD) website.
- Gather supporting documents: This includes passport, photographs, comprehensive health insurance details, evidence of funding, business plan, and statement of character.
- Pay the application fee: The non-refundable application fee is €350.
- Submit the application: The application must be submitted online to the email address provided on the application form.
Timeline
The processing time for the Irish Startup Visa is typically 12 to 16 weeks.
Practical Considerations
- Accommodation: Secure accommodation before arriving in Ireland or book a hotel for a few nights while searching for a more permanent residence.
- Cultural adaptation: Be prepared to adapt to Irish culture and customs.
- Banking. Open a personal and business bank account in Ireland. We recommend the following banks when doing business in Ireland:
Further reading:
Enterprise Ireland – National investment agency
Ireland abandoned its golden visa (resident by investment scheme) called IIP. If you are interested in countries with such programs, please read this golden visa comparison article.
The Irish Startup Visa presents a valuable opportunity for ambitious entrepreneurs to establish innovative businesses and build a life in Ireland. By understanding the requirements and following the application process diligently, you can increase your chances of success. This guide provides a starting point, but further research and professional advice are recommended to ensure a smooth and successful application process.
