The Republic of Ireland was recently ranked 7th by IMD business school based in Lausanne, Switzerland from a pool of 63 competitive nations well-known for business. This was an upsurge of five places after declining to 12th in the 2018 rankings. The chief cause of this decline was the Brexit issue.
The process of purchasing property in Ireland is not that different from other European countries. If you have all the funds needed at once, it’s even easier and faster. As a general rule, foreigners who want to buy property in Ireland are expected to make a 30-50% deposit. If you want to buy the property through a mortgage, you should keep in mind that the application process can be quite a challenge as most Irish banks consider non-Irish residents a greater risk.
“Off the shelf companies,” are companies which have already been pre-incorporated and legally registered in Ireland. These companies are much faster to establish compared to incorporating a new one. Usually, such entities would have never traded before, therefore they would be free of liabilities. The upside to Shelf companies is that you are buying a ready-made company, more like picking a product in a supermarket. They serve great convenience for foreign entrepreneurs who want to quickly set up a business in Ireland.
The Irish jurisdiction does not impose any restrictions on buying property in Ireland. Therefore, the doors are open for all nationalities who want to own a piece of property in Ireland. It is important to note that anyone can own a property in Ireland, both EU and non-EU citizens, however owning a property doesn’t necessarily grant you permission to reside in Ireland. In order to live in Ireland, you will have to have the necessary documents needed by the Irish jurisdiction.
