Ireland truly is the hidden gem, especially for those entrepreneur looking to relocate themselves, their family and their business. With a high standard of living, superb education and a favorable tax regime, is it any wonder that an increasing number of well-known multinationals and foreign businesses are relocating to Ireland due to the country’s generous incentives.

The Start-up Entrepreneur Programme (STEP) is an initiative of the Irish government aimed at encouraging high-potential startups to locate their businesses in Ireland. The program was launched in 2012 as part of a broader strategy to promote entrepreneurship and innovation in the country.

Under the STEP programme, non-EEA entrepreneurs with an innovative business idea and a minimum investment of €50,000 can apply for a two-year residency in Ireland. Successful applicants are granted permission to live and work in Ireland, as well as to bring their immediate family members with them. They also receive support from the government to help establish and grow their business in Ireland.

• €50,000 plus fee
• Approval in 6-9 months

The benefits of the Irish programme include:

• No language requirements.
• Corporate Tax 12.5% (reduced to 6.25% for technology companies), and an effective 0% tax rate on foreign dividends.
• No tax on worldwide income for non-residents.
• Investment is fully refundable after 4 years.
• Excellent education & healthcare.

These are some of the key requirements and conditions that applicants must meet to be eligible for the Start-up Entrepreneur Programme (STEP) in Ireland.

• Establish the business as outlined in your application: To be eligible for the STEP programme, applicants must have an innovative business idea that has the potential for high growth and job creation. They must provide a detailed business plan outlining the nature of their business, the market opportunity, the competitive landscape, and the team involved in the business. Once granted residency, the applicant must then establish and operate the business in accordance with the plan submitted in their application.
• Work on the business on a full-time basis: The STEP programme requires that successful applicants work on their business on a full-time basis, which means that they cannot be employed in any other capacity while in Ireland. The expectation is that the entrepreneur will be fully committed to developing and growing their business.
• Not become a financial burden on the Irish State: Applicants are required to provide evidence of sufficient funding to support themselves and their families during their residency in Ireland. They are also expected to contribute to the Irish economy through the creation of jobs and the payment of taxes.
• Not be convicted of a criminal offence in any jurisdiction: Applicants must have a clean criminal record and provide police clearance certificates from all jurisdictions in which they have lived for six months or more in the past five years.

After five years, the applicant and his family members may be eligible to apply for Irish citizenship and passport, provided the following conditions are met:

1. they have resided in Ireland for five of the preceding nine years, including the 12 months prior to the application.
2. they continue to be of good character, and free from criminal convictions.