1. Experience the Glow of Dublin’s Christmas Lights:

Dublin comes alive with a radiant display of Christmas lights. Take a stroll through Grafton Street, O’Connell Street, and St. Stephen’s Green to witness the city’s transformation into a dazzling spectacle of festive cheer.

2. Visit Christmas Markets:

Immerse yourself in the warmth of Ireland’s Christmas markets. Cities like Galway and Dublin host charming markets where you can shop for unique handmade gifts, indulge in festive treats, and enjoy live entertainment.

3. Attend a Traditional Panto:

Experience the joy and laughter of a traditional Christmas pantomime. These entertaining performances, featuring slapstick comedy and audience participation, are a beloved part of Ireland’s festive culture. The most famous venue of all is The Gaiety Theatre.

4. Skate at Winter Wonderlands:

Lace up your skates and hit the ice at one of Ireland’s temporary winter ice rinks. Locations like Galway and Dublin often set up these festive rinks, providing a delightful experience for families and friends.

5. Marvel at Festive Displays in Killarney:

Head to Killarney, where the festive displays are nothing short of magical. The town center and National Park are adorned with lights, creating a fairytale atmosphere that captures the essence of the season.

6. Enjoy Christmas Carols and Concerts:

Immerse yourself in the joyous sounds of the season by attending Christmas carol services and concerts. Many churches and venues across Ireland host musical events that celebrate the true spirit of Christmas.

7. Take a Festive Coastal Drive:

Indulge in the festive spirit of Ireland with a picturesque coastal drive during Christmas. Along the famed Ring of Kerry, experience the magical blend of coastal beauty and holiday charm in towns like Killarney and Waterville. For a delightful atmosphere, drive the Dingle Peninsula, where villages like Dingle come alive with Christmas lights. Finally, take in the coastal enchantment of the Wild Atlantic Way from Clifden to Westport, capturing the rugged scenery and seasonal cheer.

8. Participate in the Wren Day Celebrations:

Experience the unique Irish tradition of Wren Day on December 26th. Communities come together to celebrate with music, dance, and colorful processions, making it a lively post-Christmas event.

9. Visit Historic Castles and Houses:

Embark on a journey through Ireland’s storied past by visiting historic castles and houses, each adorned with festive decorations that add a touch of holiday magic to their centuries-old charm. Among the must-visit sites, consider exploring the opulent halls of Bunratty Castle, where Christmas events unfold against a medieval backdrop. Dive into the seasonal festivities at Kilkenny Castle, a symbol of Norman grandeur, or experience the yuletide charm of Malahide Castle, surrounded by enchanting gardens. For a truly magical encounter, venture to the historic halls of Castletown House, where Christmas events seamlessly blend the elegance of the Georgian era with the warmth of the holiday season. These historic landmarks open their doors to offer a unique fusion of Ireland’s rich history and the festive spirit of Christmas.

10. Indulge in Festive Culinary Delights:

Treat your taste buds to traditional Irish Christmas fare. From hearty stews to delectable desserts, savor the flavors of the season at local pubs and restaurants where festive menus abound. Some recommendations in the City of Dublin would be Searsons Pub, FIRE, and Fade Street Social.

Ireland, with its rich traditions and warm hospitality, offers a Christmas experience like no other. Whether you’re enchanted by twinkling lights in Dublin or reveling in the festive atmosphere of a coastal town, the holiday season in Ireland is truly a time of joy, warmth, and memorable moments.

The post Embracing the Festive Magic: 10 Enchanting Things to Do in Ireland Over Christmas appeared first on Bartra Wealth Advisors.

The Growing Popularity of IBI Programs

Immigration by Investment programs have gained popularity worldwide, and this trend shows no signs of slowing down. Several factors contribute to their appeal:

Global Mobility: IBI programs often grant visa-free or visa-on-arrival access to numerous countries, enhancing the freedom of global travel for investors and their families.

Family Future Planning for Enhanced Education and Global Vision: IBI programs are increasingly favored by families seeking to secure a brighter future for their children. These programs enable better educational opportunities and a broader international perspective for the younger generation.

Family Protection for Greater Residence Flexibility, Healthcare and Wealth Planning: IBI programs are also chosen for the invaluable protection they offer to families. This protection allows for enhanced residence flexibility, a higher quality of life, better healthcare and medical systems and comprehensive wealth planning – IBI programmes empower families to strategically plan their wealth, safeguarding their financial future. By diversifying their assets across borders, families can better navigate economic fluctuations and global financial challenges.

The growing popularity of IBI programs stems from their ability to serve as a cornerstone for family future planning, educational enrichment, global mobility, residence flexibility, and comprehensive wealth protection. This trend is set to endure as families increasingly seek to secure a better tomorrow for themselves and their children.

Recent Trends and Changes

The global landscape of IBI programs is witnessing notable transformations as countries adapt to evolving economic and security concerns, their IBI programs are experiencing significant shifts that are redefining the opportunities available to individuals seeking residency or citizenship through investment.

Due Diligence Enhancements: Many countries have taken steps to strengthen their due diligence procedures. These measures are aimed at ensuring that applicants meet high standards of integrity and suitability, with a particular focus on verifying the legitimacy of their capital. This enhancement is crucial for maintaining the credibility and security of IBI programs.

Family Inclusion: An emerging trend in IBI programs is the expansion of eligibility beyond primary applicants. Numerous programs now include family members, allowing them to also enjoy the benefits of residency or citizenship. This inclusivity provides more comprehensive opportunities for families seeking to relocate.

Shift Away from Real Estate Investment: Several countries have either raised or are considering raising the investment thresholds for real estate within their IBI programs. This shift is intended to ensure that investors make substantial contributions to local property markets or support rural areas to stimulate economic activity and job opportunities. In some cases, countries have even suspended the real estate investment route to prevent housing crises.

Reduced Availability of IBI Programs: There is a noticeable reduction in the availability of Citizenship by Investment (CBI) or Residency by Investment (RIB) / Golden Visa programs in various countries. For example, Bulgaria, the UK, and Ireland (with some investment options available until the end of 2023) have announced the closure of their programs. Additionally, some countries have reduced the quota for their Golden Visa programs, as seen in Australia. Furthermore, the reopening of suspended BIB schemes has been delayed in certain countries, including Canada.

In conclusion, the landscape of IBI programs is undergoing significant changes. These trends reflect a growing emphasis on due diligence, inclusivity for families, a shift away from real estate-centric investments, and reduced programs availability in certain countries. These developments are reshaping the options available to individuals seeking residency or citizenship through investment.

Specific IBI Program Updates

Among all the IBI programs, Residence by Investment (RBI) / Golden Visa programs have gained significant popularity among individuals seeking to secure a second home in a foreign country. These programs offer a pathway to residency and, subsequently, citizenship, with specific residency requirements for investors and their families, often in exchange for designated financial investments. In this section, we will compare RBI programs in five prominent countries: Canada, Australia, Ireland, the UK, and Portugal. Each program offers unique benefits and considerations, enabling prospective investors to make informed decisions.

Canada – Quebec Immigrant Investor Program (QIIP)

Investment Requirement:

• A minimum investment of CAD 1.2 million in an approved financial intermediary or by financing that investment for five years.

Minimum Net Worth:

• A minimum of CAD 2 million in legally acquired net worth, alone or with the help of their spouse or common-law partner if accompanying the applicant.

Benefits:

• Canadian residency provides access to excellent healthcare and education systems. It’s a pathway to Canadian citizenship and offers visa-free travel to numerous countries.

Considerations:

• A minimum of two years of management experience over the course of five years prior to the submission of the candidate’s application. The experience must have been acquired in a specific enterprise (agricultural, commercial, industrial), or in a government or international agency, and in a position defined as full-time.

Program Status:

• QIIP was initially suspended for review until April 2023, however, it’s further delayed until January 2024 with no specific timeline to re-open the program and new requirements may apply.

Australia – Significant Investor Visa (SIV) / Investor Stream (Subclass 188)

Investment Requirement:

• 188C: Invest a minimum of AUD 5 million in eligible ventures, small companies, and funds.
• 188B: Commit at least AUD 2.5 million to complying investments in Australia and maintain business/investment activity in Victoria.

Benefits:

• 188C provides a direct path to permanent residency.
• 188B offers a provisional visa with a pathway to permanent residency.
• Australia offers a strong economy, quality healthcare, and a high standard of living.

Considerations:

• 188C: Investment options carry inherent risks; applicants must meet health and character requirements. Genuine intention to live in the nominating State or Territory is required.
• 188B: Applicants need at least three years of management experience in qualifying businesses/investments, must reside for three years before applying for permanent residence, have an age limit of under 55, and score at least 65 on the SkillSelect points test.

Program Status:

• The Australian government has shifted its focus to skilled worker immigration post-pandemic, significantly reducing available quotas for Investor Visas.

UK – Tier 1 Investor Visa

Investment Requirement:

• A minimum investment of £2 million in the UK, with options to increase investments for accelerated settlement.

Benefits:

• The UK’s RBI program provides access to world-class education, healthcare, and business opportunities.
• It leads to permanent residency and citizenship.

Considerations:

• The program involves complex financial investments, and applicants must meet strict compliance requirements.

Program Status:

• Since the Home Office scrapped the Tier 1 (Investor) visa in 2022, a replacement visa route has yet to be introduced, allowing High Net Worth Individuals (HNWIs) to move to the UK through substantial investment.

Portugal – Golden Visa Program

Available Investment Options:

• Venture Capital Fund Investment: Capital transfers of €500,000 or more for participation units in venture capital funds (without real estate ties).
• Research Funding: Investment of €500,000 or more in research activities conducted by public or private scientific research institutions.
• Commercial Company Investment: Capital transfers of €500,000 or more for establishing a national territory-based commercial company or increasing the share capital of an existing company (with the creation of five permanent jobs).
• Cultural Heritage Support: Non-refundable investment of €250,000 or more in support of artistic production, recovery, or maintenance of national cultural heritage.

Non-Available Investment Options (No Longer Accepted):

• Capital transfers of €1,500,000 or more.
• Purchasing real estate valued at €500,000 or higher.
• Investing in the rehabilitation of real estate properties that are at least 30 years old, with a total investment of €350,000 or more.
• Investing in real estate in low-density areas for €400,000 or €280,000.
• Investing in funds with direct or indirect real estate investments.

Benefits:

• Portugal’s Golden Visa offers EU residency with a path to citizenship.

Considerations:

• An “official SEF source” indicates more than 7,000 pending golden visa applications, a significant departure from the SEF’s 10-year average of around 1,000 annual approvals. Clearing this backlog alone could take 6-7 years, pushing approval timelines past 2030 if new applications were suspended today.
• Investors should note annual government fees, legal fees, and tax representative fees per family member.
• A language test is required for Portuguese citizenship eligibility.

Ireland – Immigrant Investor Program (IIP)

Investment Requirement (popular options):

• A minimum investment of €1 million in an Irish enterprise or Investment Fund.
• A minimum €400,000 philanthropic donation to a project that benefits the arts, sports, health, culture, or education in Ireland.

Benefits:

• Ireland offers a stable economy, an English-speaking environment, and residency in both the EU and the UK.
• It provides a direct pathway to permanent residency with the potential for citizenship through naturalization, without the need for a language test, medical test, educational level, or age limit.
• Investment can be made after receiving a pre-approval letter following the application.
• The program offers the most flexibility for residency (only one day per year required), resulting in significant tax planning benefits for investors among English-speaking countries.

Considerations:

• The Irish government announced the closure of the IIP in February of this year.
• Only approved IIP projects can continue to accept investors for applying to the IIP with a grace period, and the available quotas are very limited for Enterprise investments and Endowment options.
• An extension has been granted to the Investment Fund option offering the IIP, allowing it to run until the end of 2023. Regulated by the Central Bank of Ireland, this low-risk investment fund route has received special permission to continue processing applicants for the IIP until December 31 of this year.
• Bartra Wealth Advisors specializes in Irish immigration, providing one-stop-shop solutions by assisting investors from initial consultations and applications to landing services and investment exits. We currently have limited IIP slots available for investors who have immediate application intentions.

Conclusion

Immigration by Investment programs continue to evolve, offering a pathway to enhanced global mobility, economic opportunities, and an improved quality of life. As countries adapt to changing circumstances and investor needs, staying informed about the latest trends and changes in IBI programs is essential for those considering this life-changing opportunity.

The choice of a Residence by Investment program depends on individual goals, financial capabilities, and preferences. Each country’s program offers distinct advantages, such as access to strong economies, high-quality living standards and educations, and pathways to citizenship. It is crucial for prospective investors to conduct thorough research, seek legal and financial advice, and carefully evaluate the unique benefits and considerations of each program before making a decision. With the right choice, investors can secure not only a second residence but also a brighter future for themselves and their families.

The post Navigating the Shifting Landscape of Immigration by Investment Programs: Updates on IBI Programs in Five Popular Countries appeared first on Bartra Wealth Advisors.

• They have the right to live and work in Ireland, without any time constraints.
• They can get access to educational and healthcare benefits.
• They can apply for citizenship through naturalisation to obtain one of the most valuable passports worldwide.
• Visa-free or Visa on arrival to 189 countries, including the United States, Schengen Area, and the United Kingdom.

In return, the Programme helps to bring foreign investment into Ireland (more than €1 billion in total) to build or improve its infrastructure, create new companies or jobs and raise capital to boost the economy. It has also contributed to many local communities, hospitals and sporting organisations.

However, the government decided to close the Programme with immediate effect in February, with a few limited exceptions:

• The existing approved projects will not be affected for IIP applications and need to be completed within the timeframe set out per the business plan.
• Applications not yet submitted, but where the project was significantly developed with the assistance of the IIP Unit of the Department of Justice, may be granted a grace period of three months to submit the finalised application.

The closure has changed the Irish IIP landscape since then.

Current IIP availability

Since the sudden closure announced in February for this decade-old, sought-after Residency by investment programme, investors have been looking for available project options to grasp the final IIP opportunities during a grace period granted by the government.

Among the four IIP investment options – Enterprise Investment, Endowment, Investment Fund, and REIT,  statistically and historically, the applications and investments largely go to Enterprise investments, followed by Investment Fund and Endowment.

Over the last few months, it is believed that the approved Enterprise Investment projects i.e. social housing schemes and nursing homes, and Endowment projects should have been all snapped up by investors, leaving only a handful of investment slots from investors who have withdrawn from the applications or investments after getting approvals. For any existing Enterprise Investment and Endowment projects that are still available on the market, IIP investors are advised to carry out their own full due diligence before investing to assure that their chosen projects have been approved in order to secure their future approvals.

Worth noting is that an extension has been granted to the Investment Fund option offering IIP to run until the end of 2023. Regulated by the Central Bank of Ireland, this low-risk investment fund route has been granted special permission to continue processing applicants for IIP until 31^st December this year.

Characteristics of IIP investment Fund

• All funds have to be invested in Ireland and must represent equity stakes in Irish-registered companies that are not listed on any stock exchange.
• The funds and fund managers will have to be regulated by the Central Bank to conduct business in Ireland.
• Only fund managers with an established record of managing regulated funds will be accepted to manage funds in Ireland.
• Under this scheme, investors will receive a residence permit for 5 years. An initial permit for two years and another 3-year permit if investors keep the investment. After the 5-year period, investors can apply for renewals in 5-year tranches.

How can investors choose their IIP Investment Fund?

Each fund has their investment objectives and strategies, when choosing a fund for the purpose of IIP, broadly speaking, investors are suggested to consider the following 4 key areas:

• Understand the nature of the fund and its investment objectives: What companies and assets is the fund investing in and what is it trying to achieve, i.e. some funds invest in Irish enterprises and assets for achieving capital growth, while some simply provide loans to commercial sectors for earning interest.
• Understand the risk factors: Different investment strategies have their associated risks. Generally speaking, higher growth rates indicate higher risk. Also, the sectors where the investments go in would affect the performance of the fund, market performance is one of the key factors. The more diversified the sectors of the investments in the portfolio, the lower the risk of major losses that can result from over-emphasizing a single asset class.
• Know the fund managers and Board of Directors: The performance of the fund is largely dependent on the fund management team’s experience and expertise. Having a good understanding of the companies and key stakeholders in the fund is essential for investors to choose a suitable IIP investment fund.
• Understand the return and fees: if capital refund is the expectation, investors would have to choose a fund whose investment objective is aligned with the investors, as some growth funds do not provide the full capital return. Investors are also advised to understand the fund fee structure, as some funds would charge management fees and costs for operations.

It is worth mentioning that, although most of the funds are 5-year investment period, due to the funds’ nature of their maturity date, investors who invest in a fund may have less than a 5 year investment horizon due to each fund’s maturity time as well as IIP’s approval time.

Invest IIP with Bartra Wealth Advisors  

Half a year since the closure announcement was made, in August, Bartra received over 20 approval letters for our clients across our offices. To date, Bartra have more than 300 approved Investors through IIP, with a total investment amount exceeding €220 million. The approvals prove that clients’ investment through Bartra is safe and we are reliable to deliver high-quality, government-backed projects to secure clients’ residency.

In addition to its minimal residency requirement, IIP offers some investment options that are capital protected investments and they are also passive investments, which means the initial capital of investors will be repaid to investors at its maturity and investors do not have to manage or operate their investments. This is another major advantage of IIP for those who are looking for a safe and secure investment opportunity. It is also hassle-free at the same time as it requires minimal time and effort.

Investing with Bartra not only can secure your path to a successful Irish residency, through Bartra’s one-stop-shop investment services and its five-year customer servicing and settlement services in Ireland, clients can be rest assured of a smooth transition and relocation in Ireland.

Click here to learn more about the IIP or to contact us.

Bartra only have a small number of available slots remaining for IIP-approved investment projects, contact us now and secure your successful IIP journey right away.

The post IIP Updates and Current Available Options appeared first on Bartra Wealth Advisors.

The Irish Immigrant Investor Programme is a unique and highly sought-after immigration program that provides numerous benefits to those seeking to become Irish citizens. One of the most notable benefits of this program is its minimum residency requirement, which is very rare among English-speaking immigration programs. This residing flexibility not only offers investors an opportunity that they do not have to sacrifice their current lifestyle or uproot their families, but it also means that investors will be able to plan ahead and minimise their tax liabilities.

IIP a rare RBI programme

The last couple of years have been quite eventful, causing more uncertainties in the world. Investors and HNWIs across the world are seeking out second residencies that offer them and their families peace of mind while dealing with uncertainties. This has led to unprecedented interest in the Residency/Citizenship by Investment (RCBI) industry worldwide.

Ireland’s decade-old IIP soared in popularity in 2022, with record applications numbering more than 1,000 from across the world, more than twice the annual record set in 2019. As one of the largest Irish immigration IIP fundraisers, Bartra was involved in roughly 25% of the total Irish IIP applications.

One of the notable advantages of IIP is that the scheme requires that investors only reside in Ireland for one day per year for the first five years. The successful investor and his or her family will be granted a ‘Stamp 4’ status visa (equivalent to a Permanent Residency status) and family members will be benefited from their own permission to work, study or establish a business in Ireland as they wish, or they can hold their PR status without having to actually reside in Ireland. This freedom to effectively come and go as they like, makes the IIP stand out from all other immigration routes available to persons wishing to establish ties to Ireland. For those investors who choose to live in Ireland for 5 years, they may then be eligible to apply for citizenship by naturalisation. The Irish passport is widely recognised as one of the most valuable for those travelling internationally, and it is the only passport that allows citizens to travel, live and work in Europe and the UK.

In addition to its minimal residency requirement, IIP offers some investment options that are capital protected investments and they are also passive investments, which means the initial capital of investors will be repaid to investors at its maturity and investors do not have to manage or operate their investments. This is another major advantage of IIP for those who are looking for a safe and secure investment opportunity. It is also hassle-free at the same time as it requires minimal time and effort.

Tax planning

Because of IIP’s minimal residency requirement, investors who stay in Ireland for less than 183 days or more in a tax year, are not considered taxable residents with no tax liabilities, such as no income tax for foreign-soured income, no inheritance tax and no capital gain tax. Investors and their families can decide themselves whether to become tax residents in Ireland depending on their situation.

Furthermore, the remittance basis of tax is another favourable tax treaty to people coming into Ireland if non-domiciled. If not an Irish national, then any investment income is only taxable if that goes into Ireland. There are very few countries that offer this favourable tax treatment.

We previously discussed some tax scenarios (also compared taxes between Ireland and UK), and provided many practical tips, click to read the article to learn more about the tax issues where we interviewed KPMG.

Conclusion

After all, the Irish Immigrant Investor Programme (IIP) is a unique and highly sought-after immigration program that offers numerous benefits to those seeking Irish residency and creating a pathway to becoming an Irish citizen. From its minimal residency requirement to its capital protection, passive investment options and tax planning benefits, the IIP provides a wealth of opportunities for investors looking to expand their horizons and take advantage of all the benefits that Ireland has to offer.

Whether you are looking to secure a better future for yourself and your family, or simply enjoy the many benefits of Irish PR, the Irish Immigrant Investor Programme (IIP) is the perfect choice for you. So why wait? Start your IIP journey now with Bartra today and take the first step towards a better future.

Click here to learn more about the IIP or to contact us.

Note: Bartra only have a small number of available slots for the IIP-approved investment projects.

The post Irish IIP Key Benefits: holding PR status for entire family without residing in Ireland appeared first on Bartra Wealth Advisors.

While there are no restrictions on nationality when purchasing property in Ireland, the property is low priced comparatively with developed English-speaking countries such as the UK and the US, but rents are relatively high, many buy-to-let investors have been finding the highest rental yields in Ireland amongst European countries in recent years, benefiting from the capital growth at the same time.

We previously provided a guide to buying a property in Ireland, in this article, we are going to discuss what makes Dublin’s buy-to-let property scheme attractive.

The two main sources of income in a buy-to-let investment are rental yield and capital growth. These are very different terms that describe the two income streams a property can deliver. It is also important for investors to understand the price-to-rent ratio which provides insight into a given property’s potential return on investment.

Rental yield and rental price performance

One of the most important metrics for an investor to consider is the rental yield they can receive. Rental yield is based on you letting your property out to a tenant and what you can expect the rental income over a year. Understanding the average rental yields in a property market is vital for making an informed decision for choosing a property for investment.

Irish properties provide higher average rental yields than many popular property investment global cities.

Although it is one of the best countries to invest in rental property, Ireland is not usually found on the list of the best countries for real estate investment due to a reason – availability of stock. Stock of residential property has always been a problem in Ireland and the problem continues to worsen. The number of houses for sale dropped 26% in three years up to September 2022. Furthermore, many new developments are snapped up by institutional investors, further reducing the availability of stock for individual investors to enter the market.

In terms of rental prices performance, according to the property website daft.ie, Irish rental prices rose the most on record in 2022 with increases of 20% in some cities. In Q4, average rents were 13.7% higher than the same period in 2021.

Which is best to buy for investment: 1-bedroom, 2-bedroom or 3-bedroom apartment?

When it comes to an investment property, bigger is not always better. Firstly, 1-bed and 2-bed appeal to the widest rental market compared to 3-bed properties, which means they are in higher demand and would minimise rent lost due to shorter vacant periods. Secondly, 1-bed and 2-bed typically provide stronger yields as the 3-bed property requires a higher capital entry point. Last but not least, in the exit strategy for an investment property, 1-bed and 2-bed have a stronger secondary market as they appeal to more owner-occupiers and have lower furnishing costs than a 3-bed property.

There are many advantages of investing in a 1-bed apartment for investors to invest in the Irish property market for the first time:

• It has a lower capital entry point compared to a 2-bed apartment.
• It is cheaper and easier to furnish than a 2-bed property.
• It has a lower maintenance cost.
• It appeals to young professionals and graduates, as well as young couples.

Buying 1-bed apartments is a good investment choice within the buy-to-let sector in the greater Dublin area. This is largely down to their appeal to a wide rental demographic, and because remote working is becoming a new norm for many companies in Dublin, many people would rather stay away from the city centre but in a less busy, more relaxing environment to live.

In Dublin some popular districts, gross rental yields range from 6.19% to 7.96%, which are generally considered excellent yields. One-bedroom apartments will earn relatively more than two-bedroom apartments. To earn higher returns, buy smaller units.

Capital Growth

Another important source of income in a buy-to-let investment is capital growth. Capital growth is your profit earned on a property purchase and is based on the capital rises that you may experience as property prices go up.

According to Irish Central Statistics Office (CSO), in July 2022, the national residential property price index rose strongly by 13.1% from a year earlier, up from a y-o-y increase of 8.48% in the same period in 2021. The latest data from the Property Price Register (PPR) revealed that Irish house prices were up 8.9% in the first three months of 2023.

The graph shows the 10-year residential property price index in Ireland. Source from Central Statistics Office.

According to PPR’s same set of data, Dublin remained the most expensive county with the median price of homes sold in the first quarter of 2023 up 8.1% year-on-year and 1.2% quarter-one-quarter.

Investment properties in Dublin and the surrounding areas are anticipated to be benefited from a price increase. When considering the best places to buy in Dublin, you may want to consider the up-and-coming areas around the city, which provide amenities for families and commuters looking for the perfect balance between city life and quiet neighbourhoods. While your rental income may be less than the one of a property in the city centre, you will likely pay a lower purchase price. This means your overall yield and profit are healthier than if you opted for a smaller property in Dublin’s most elite districts.

Dublin property vs London property

Many people like to invest property in the UK, but many of them do not know Ireland can offer better value. We can compare the properties of the two places from their price per square metre (psm), rent per month, and price-to-rent ratio.

Investors can enjoy a 1.5 times larger space purchasing an Irish property than in the UK, for the same capital amount and a similar growth rate of property price.

From a rental perspective, although rents in some city centre locations are higher in London than in Dublin, the property price is lower in Dublin, offering stronger rental yields (data refer to the table above). investors would also have to take the carrying costs into account, those are the fees for owning a property, for example, the property management fees, and usually the fees are lower in Dublin than in London.

Investors are suggested to consider the price-to-rent ratio when investing in a property. The ratio is an essential indicator because it provides insight into a given property’s potential return on investment (ROI). Generally speaking, a lower ratio indicates that the property has good potential to generate long-term returns, while a higher ratio suggests that the property may not provide adequate returns over teams, and is less likely an investor can achieve positive cash flow from renting the property out after deducting from operating expenses and mortgages. A good price-to-rent ratio is considered to be 15 or lower indicating that investing in real estate in that area would be more profitable for renting.

The expected rental income of this Malahide project is around €2,250 for a 1-bed unit and €2,700 for a 2-bed unit, offering gross rental yields of about 5.6%-6.5%.

 Conclusion

Properties provide an excellent hedge against inflation that attracts many investors who are currently expanding their property portfolio. Ireland ranks highly as a strategic location for investors seeking to secure long-term income generated by property investments. Dublin and its surrounding areas offer a stable housing market with the potential to generate high rental income as well as to make great ROIs on the right properties, making it an excellent location for global property investors.

The post Invest in high-income Irish property appeared first on Bartra Wealth Advisors.

For those who plan to stay in Ireland, buying a house to live in or for the family makes perfect sense. There are no residency-based restrictions to buying property in Ireland. You can buy property here if you are an Irish citizen, EU/EEA citizen, non-EEA national, or even non-resident in Ireland.

However, due to its growing population, strong employment market, and coupled with a very tight housing supply, property buyers and investors can often find it difficult to buy a residence in Ireland. This is most evident in Dublin and in other prime locations. A 1-bedroom or a 2-bedroom apartment can be snapped up by the local market very quickly with the average time to sale agreed to be about 2-3 months, some only take a few weeks, indicative of a tight market.

The housing demand remains strong despite the uncertain economic environment posted by events in Ukraine, higher energy prices, CPI inflation, and European Central Bank (ECB) rate hikes. Transactions are currently still being agreed above the asking price as the demand remains high.

From an investment perspective – historically, real estate has proven to be a stable investment during inflation with a high chance of value increase. Ireland offers strong economic stability, and investing in property in Ireland is not only safe but also profitable due to yields that can go beyond 5%.

It is an exciting opportunity to own a property in Ireland right now, however, you may want to pay attention to the following information.

Budgeting and mortgage

When buying a property in Ireland, there are some associated costs a buyer would have to consider, such as legal fees, insurance, and stamp duty. Allow about 3-5% of the purchase price to cover the costs of buying your new home in Ireland.

Stamp duty applies to both new and second-hand property. Stamp duty is applied every time you become the new owner of a property. The current rates are 1% of the first €1 million paid for a property and 2% on any amount above €1 million.

For example, if you buy a house for €1.3 million, you will pay €10,000 (1%) on the first 1 million and €6,000 (2%) on the remaining €300,000.

Where VAT applies stamp duty is calculated on the property price excluding vat.

Stamp duty is usually paid when you complete the process of buying the property and your solicitor will usually arrange this for you.

If applying for a mortgage, it is uneasy for foreigners. You will usually need to be living in Ireland for at least 6 months and have been in employment for at least 12 months before most lenders (i.e. banks) will consider you for a mortgage.

It can sometimes be easier for an “expatriate” to get a mortgage when someone is returning to Ireland after being abroad for a few years. Some Irish banks will not even consider lending to someone who lives outside Ireland and doesn’t have most of their income in Euros.

Energy rating

All homes for sale must have a Building Energy Rating (BER). The BER tells you how energy-efficient your home is. A-rated properties are the most energy efficient while G-rated homes are the least energy efficient. When choosing a property to buy, considering its energy rating is important, not only does it help lower energy use, but also houses with a good energy efficiency rating can fetch almost 10% more than a comparable property with a low BER rating.

The Solicitor and the power of attorney

During the property purchase process, it’s advisable to have sound legal advice from a party acting in your interest, especially when you are not able to stay in Ireland to manage the purchase process, you can nominate a solicitor based in Ireland to represent you throughout the whole legal process and grant your solicitor power of attorney.

Solicitors’ charges vary substantially, however, a good solicitor who is experienced in representing buyers from overseas can help you avoid or deal with common problems, and that will save you a lot of time with less hassle, this is usually money well spent!

Taxation/PPS

It is important for property buyers to apply for an Irish PPS Number (equivalent to a National Insurance Number) personally before purchasing a property in Ireland regardless of whether you are a resident or non-resident. You are not permitted to complete a significant financial transaction without the PPS Number. Your solicitor can advise you on this if you are not sure where to start.

The buying process

In order to secure your chosen property and have it taken off the market, you would normally be required to make a reservation with a deposit, then usually pay 10% of the property’s cost within a few weeks of signing a contract which your solicitor sends to the seller’s solicitor. The balance of monies due is payable on property completion.

Requisitions on title

Between signing the contract and paying the remainder of the monies owed, your solicitor will draft a purchase deed and ask the seller’s solicitor a range of standard questions (known as Requisitions on Title) regarding the sale of the property. Note, at this point you as the buyer have committed yourself to purchase the property (providing the answers to the requisitions are satisfactory), but the seller is not committed to selling the property until they sign the Deed of Conveyance prepared by your solicitor.

Buying a house is not only exciting, but it’s one of life’s achievements. Property is also a great investment asset to own for creating passive income and long-term wealth. We at Bartra are always here to advise our clients where to live and where to buy in Ireland. Interested in buying a property in Ireland? Contact us now.

Read on for more published content about Ireland property: Our colleague Richard Lenehan met Jonathan Dowling, who works for Bartra New Homes, in Dublin’s prime residential district Blackrock to check out the Glensavage Estate and learn more about the residential buying process for overseas buyers. Click to view the video.

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The Irish residency programme – the Immigrant Investor Programme (IIP), allows its investors to establish residency and later become eligible for citizenship. Our clients frequently ask questions about Irish citizenship as many of them have received or will be receiving their Stamp 4 visa (PR equivalent) by investing in Bartra’s IIP projects. For some of them it’s their goal is to move to Ireland. In this article, we are going to discuss the rights and benefits of an Irish citizen, citizenship and naturalization rules as well as eligibility. We also will share some thoughts from an interview with the Hong Kong Irish Chamber of Commerce, where our Marketing Director Jay Cheung spoke with their Treasurer, Henry Au, who is also the Chairman of Trinity College Dublin. The discussion focused on why many countries have built a strong bilateral relationship with Ireland, and the opportunities Ireland can offer for families around the world.

But, first and foremost, we would like to show you how welcoming Ireland is to people and families from different countries who want to set their roots in Ireland. Click to view a video from the Department of Justice in Ireland which was recorded at the Citizenship Ceremony in 2022 where applicants received their certificates of naturalisation.

Rights of Irish citizens

From the ease of travel to business opportunities, becoming an Irish citizen provides a wealth of opportunities for those who wish to expand their horizons. Irish citizens are entitled to:

• Enjoy fundamental rights as set out in the Irish Constitution
• Access free education
• Vote in Irish and European elections
• Be elected to government
• Enjoy diplomatic support outside of Ireland
• Hold dual/multiple citizenships
• Pass Irish citizenship to your children
• Irish citizens can also apply for a European Health Insurance Card. This enables access to state-provided healthcare during a temporary stay in an EU member state, Iceland, Norway, Lichtenstein and Switzerland.

Accessibility of Irish passport holders

In addition to the EU/EEA, Ireland holds agreements with other countries, allowing Irish citizens to travel to those destinations without visas. As of 2022, Irish citizens had visa-free or visa-on-arrival access to 187 countries and territories, ranking the Irish passport 5th as the world’s most powerful passport, placing it ahead of other popular immigration destinations including the US, UK, Australia and Canada, according to the Henley Passport Index.

In the aftermath of Brexit as of 2023, Irish citizens are the only nationality in the world with the right to live and work in both the European Union and the United Kingdom.

Irish passport holders are entitled to:

• Live, work, study and travel in Ireland and the UK, under The Common Travel Area (CTA) long-standing arrangement
• Live, work, study and travel in the EU/EAA
• Have the E-1 and E-2 Treaty Investor visas to the United States

Becoming an Irish citizen through Naturalisation

The rules governing Irish Citizenship are set out in the Irish Nationality and Citizenship Acts 1956 to 2004. Naturalisation is the process through which a foreign national living in Ireland may apply to become an Irish citizen. To apply for naturalisation in Ireland, you must have been physically resident in Ireland for a certain length of time.

If you wish to become an Irish citizen through naturalisation, there are certain conditions that must be met. See below for some of the key conditions.

Age: You must be 18 years or older. If you are under 18, you can apply for naturalisation if you are married.

Character: You must be of good character – the Garda Síochána (Ireland’s national police) will be asked to provide a report about your background. Any criminal record or ongoing proceedings will be taken into consideration by the Minister for Justice and Equality in deciding whether or not to grant naturalisation. You should disclose details of any proceedings, criminal or civil, in the State or elsewhere, in the application form.

Residence in the State: You must have lived in the State for a certain length of time.

The specific requirements are that you:

• can either choose to apply in 5 years, with each year’s absence from Ireland less than 6 weeks
• or you need to reside in the State for at least 1825/1826 days over 9 years with a continuous reckonable residence in the latest 12 months before the application.

Parents: you are entitled to Irish citizenship if one of or both of your parents is a foreign national legally resident in the island of Ireland for 3 out of 4 years immediately prior to your birth.

Children: Children can apply independently for their citizenship when they stay five years or longer in Ireland and are 18 years or older. Their time in schools are also taken into account.

World’s opportunities for Irish citizens and immigrants

In our latest episode of the Immigration Insights video series where we interviewed Henry Au from the Hong Kong Irish Chamber of Commerce, he explained the histrorical links between Ireland and many countries, such as the US, UK, Australia, as well as the legacy connection between Hong Kong and Ireland that has established 200 years ago. During the interview, he talked about many fascinating facts such as the ways that global Irish citizens have brought their culture to the world, and at the same time, Ireland is offering unparalleled opportunities for families and future generations around the world who see Ireland as their future home. Click to view the interview.

In conclusion, the IIP not only offers a secure residency status in Ireland but also provides a simple, safe pathway to Irish citizenship. With the help of the right expert, families can be on their way to experiencing all that this wonderful country has to offer. Whether you are looking to get access to a top education system for children, travel the world, or simply secure a better future for yourself and your family, Irish immigration is the perfect choice for you. So why wait? Start your journey today and take the first step towards a better future.

Note: On Tuesday 14 February, the Irish government announced the closure of the Immigrant Investor Programme (IIP). IIP applications via approved projects may be granted a grace period of three months to submit the finalised application. Any interest in IIP is the last chance and would have to apply on an urgent and immediate basis or the programme will no longer be available. Get in touch with us.  

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The Minister of Justice said the decision to close the scheme had taken into account studies by international bodies such as the European Commission, which last year called on EU governments to end national programmes to sell citizenship to investors, which it has long considered a security risk.

Bartra Wealth Advisors, the immigration arm of Ireland’s most successful real estate developer Bartra Group which specialises in providing independent Irish immigration investment advisory services on investment in Ireland’s much-needed, purpose-built social housing and nursing home IIP projects, reported receiving over 100 phone calls following the announcement from clients in China, Hong Kong SAR, Taiwan, Vietnam, Korea and the USA, asking about their applications and the impact of the IIP’s closure.

“The closure of the Programme will not affect existing projects that have been approved by the Government. For these, we can continue to source the investors required to complete funding and we will continue to be monitored by the Department of Justice in relation to the delivery of the projects and for compliance purposes,” said Daniel Hinds, COO of Bartra Wealth Advisors. “Investors who have already been approved by the Irish Naturalisation and Immigration Service (INIS) will not be affected by the closure of the Programme, and all future visa renewals will be granted as long as the requirements are fulfilled.”

James Hartshorn, CEO and Co-Founder of the company said: “Since last year, we have been advising our clients who were considering the IIP but had not yet made up their minds to take action and be proactive as policy changes could happen at any time. Ireland in particular offers a great quality of life and a strong economy, as well as world-class healthcare and educational systems making it an easy place for foreigners to immigrate to.”

“Since we established our business in China in 2016, we have been aggressively expanding our global footprint and offering IIP opportunities to more families looking for better education for their children as well as greater access to the EU and UK. As well as China, we have received approvals of applications for American, Vietnamese, Indian and Korean clients.

“Bartra’s IIP business is a win-win business. It brings capital from all over the world to fund much-needed local infrastructure, which was and remains undersupplied, and to support government initiatives such as the Housing for All policy. For Bartra, building new homes is a key part of our business. As well as providing much-needed housing, our construction programme helps to create jobs and training opportunities, regenerate neighbourhoods and support communities across Ireland. We plan to deliver at least 3,000 new homes between now and 2030, with our primary focus on the continued delivery of sustainable social housing.

“Bartra is also developing portfolios of nursing homes and care units to support this in-demand sector in Ireland. To ensure the success of the developments, we are one of few groups that integrate development, operation and management into our IIP projects.

“For our investors, their investment with us is very safe. Last year alone, we made repayments of nearly €100 million to about 100 IIP investors who had invested in our social housing and nursing home projects. Many of their repayments have also been reinvested in other development projects in Ireland and a large number of our clients are now living or plan to live in Ireland with their children who are or will be studying in Irish schools. We believe a diversified community with talent from around the world will only further strengthen Ireland’s future economic and social growth.”

Bartra Wealth Advisors also has been supporting Irish nationwide charities, sporting clubs and hospitals with significant investments into these sectors under the IIP Endowment option.

Organisations with IIP-approved projects are welcome to contact Bartra Wealth Advisors to leverage its global client base for raising funds.

Visit our website for interviews with some of our investors about their IIP investment journeys and their lives in Ireland.

Bartra Insights

• Irish developer Bartra to repay over €90 million to immigration by investment clients
• Poplar Row social housing – client Bruce Zheng shares his IIP journey
• Loughshinny Nursing Home repayment – client Luna Wu on her successful IIP journey

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