Do You Get Residency if You Buy Property in Ireland?
Ireland is one of the most beautiful places in the world to live. If you love greenery, mild winters, fresh air, fun parades, football, and some of the most friendly people on Earth, you're going to love Ireland. Ireland has been listed as the fourth best country in the world in which to live, according to the annual Human Development Report, behind only Norway, Switzerland and Australia.
In fact, you've heard all of this and that's why you're looking into real estate in the country. If you're considering a move to Ireland from Hong Kong, you may be wondering about the legality and logistics of it. Black Lion Ireland is here to help!
Can a Foreigner Buy Property in Ireland?
Yes! The great news is that you can buy a property in Ireland as a non-resident. There are no restrictions on foreign nationals buying residential property or commercial property. Irish real estate is a popular investment option, considering that Ireland had the fastest growing economy in the European Union in 2020. If you want to buy a property in Ireland, you’ll have to get an Irish Personal Public Service (PPS) number and hire the services of an Irish property lawyer.
Do You Get Residency if You Buy Property in Ireland?
It isn't just about whether or not you're allowed to buy the property. The second part of the question is important too. Do you get residency if you buy property? This is where things get tricky. Just because you own a property in Ireland does not mean that you automatically have the right to residency in Ireland.
In order to legally live there, you will need to satisfy the necessary immigration permissions. This depends on what passport you hold. Citizens from the UK, EU, EEA, and Switzerland can live and work in Ireland without restrictions. Citizens from other countries, like Hong Kong, may need a visa to stay in Ireland for more than 90 days.
If you are a non-EEA citizen and have significant funds to invest in Irish real estate, you may consider the Immigrant Investor Programme (IIP) instead.
Black Lion Ireland is Here to Help
If you’re a non-resident and you’re thinking about buying property to gain residency in Ireland, Black Lion Ireland has all of the information you need to know. Instead of buying property, it may be a better idea to invest elsewhere and then apply for the Golden Visa or Irish Citizenship by Investment.
The Immigrant Investor Programme (IIP) is an attractive programme for investors and business professionals that we would like to go over with you. Before you buy property, know that residency in Ireland doesn't come with it! We can help you find ways to earn the residency you're looking for. That's our specialty!