Irish News

What you need to know before buying property in Ireland

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.


Buying a shelf company in Ireland

“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.

All you need to know before buying property 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.