We have heard much about Ireland’s “Our Living Islands” policy in the past few days.
According to claims, individuals would be paid around €80,000 under this program.
Is it true?
If so, to what extent?
Can we get a visa/citizenship under this program?
Can we get an amount of €80,000 or not? If not, what is the exact amount that we can be able to get under this program?
These types of common questions arise in the minds of individuals as soon as they learn about this program.
To clarify all the doubts around this program so you can avoid all the misconceptions.
Without any delay, let us now get into the details of this program and how you can benefit from it.
If you want to invest as an expat or high-net-worth individual, you can email me (advice@adamfayed.com) or use these contact options.
Introduction
First of all, let’s talk about Ireland and some of the general information about it.
Ireland is a great country to live in, which offers a high quality of living.
The healthcare system of Ireland is indeed exceptional among other developed free countries.
Ireland, as an island, is the third largest in Europe.
This scheme is to help the communities in the 30 islands of Ireland, which have no connection to the mainland.
There’s always a catch for such policies put forth by governments, isn’t it?
Yes, it is true.
Now, let us look at the objectives of Ireland’s Our Living Islands policy.
Objectives
As I said, around 30 islands off the coast of Ireland are cut off from the mainland.
This lack of connection is due to various reasons, which include:
— Tides are cutting off the mainland connectivity.
— There is no connection to the mainland through a bridge or a causeway.
— They have permanent year-round populations and no private ownership.
Maintaining good transport facilities and significant infrastructure is vital for the island population.
The government’s primary goal is to meet these requirements so that the island population can improve.
The Our Living Islands policy spans for ten years for these offshore islands.
The goal of the policy is to guarantee the sustainability of vibrant communities. By doing so, the island population can live and continue to thrive in the future years to come.
From the official website of “Our Living Islands,” it has been made clear that this policy has five main objectives.
They are:
— Give a boost to the population levels on the islands.
— Diversify island economies.
— Improve health and wellbeing services.
— Enhance island communities.
— Build intelligent, sustainable futures.
There is also an action plan that accompanies this policy for the period of 2023 to 2026.
Eighty time-based actions are a part of this action plan, which is said to be implemented by several stakeholders.
A nominated government or State agency would take care of this action plan.
A few examples of time-bound actions which are a part of this action include:
— Island-based additional grant support as a part of the Vacant Property Refurbishment Grant (Croí Cónaithe). This grant is to motivate the usage of already existing properties for the provision of long-term residential accommodation.
— The following steps are to enable the accessibility of education and training courses in the islands:
- Broadband Connection Points (BCPs)
- Digital Hubs and schools under the National Broadband Plan (NBP)
- Drive remote working from islands.
— Pilot eHealth Pods on islands. Utilize BCPs and remote working hubs. These measures are for enhancing access to online health appointments.
— Ongoing communication measures. These measures connect island communities, local authorities, and relevant stakeholders.
Details of the Policy
The main objective of this policy is to increase the population and develop the 30 meagrely populated offshore islands.
This policy is a 10-year strategy for the island communities to stabilize and economize their islands by boosting the population.
The policy provides financial aid of the said amount to the people relocating to the islands.
Such people should relocate to one of the abandoned properties on one of the offshore islands.
As the policy suggests, these properties must be built before 1993—additionally, no occupancy for at least two years.
Around 30 offshore islands of Ireland are being considered under this program.
The renovation grant is said to range between €60,000 to €84,000.
Additional costs, i.e., when the costs exceed the approved amount of the policy, there would be additional funds.
These additional funds for the exceeding costs are provided as a part of the Vacant Property Refurbishment Grant.
Vacant Property Refurbishment Grant
This grant is a payment for converting a vacant property into your permanent residency or rental property.
Under this grant, additional levels of support are provided to individuals who want to turn vacant and derelict properties into primary residences or rental properties.
The Vacant Property Refurbishment Grant offers up to 20% additional to what the policy has claimed to provide.
However, these additional funds can only be granted when the refurbishment costs exceed the allocated amount.
For more details regarding the Vacant Property Refurbishment Grant, click here.
Keeping that aside, let us look at specific crucial facts related to the policy.
Fact no. 1 – No visa/residency sponsorship
First of all, the policy is to increase the population of the communities in these islands.
The government will not sponsor visas or residency for those wishing to relocate here.
Especially if you are a non-EU/EEA resident, you cannot expect the government to provide a visa or residency along with the cash grant.
The visa or residency requirements are the same as those for Ireland.
In the official website of Our Living Islands, it is stated that:
“Our Living Islands does not include any proposals or schemes. Our Living Islands has no recommendations or plans to facilitate immigration or resettlement to Ireland’s offshore islands. Therefore, the residency requirements are the same as in the rest of Ireland. Information regarding immigration and residency can be found at;
https://www.irishimmigration.ie/ “
Now, if you wish to relocate to these islands and have access to the cash grants, you must become a resident of Ireland.
Most online residency/visa scams hide this information and scam people.
Beware of such fraudsters, and make sure that you thoroughly research the terms and conditions involved with the policy.
Fact no. 2 – No payments for living on the island
Some of you might already be searching for this question, i.e., whether you will be paid for living on the islands.
Sorry to burst your bubble, but the Our Living Islands policy doesn’t work that way.
You will not be offered any payment for living or relocating on the islands.
All the costs related to relocation and living should be afforded by those who apply for this.
Fact no. 3 – Is the government giving me free property on those islands?
The government does not provide any assistance for buying properties on those islands.
The policy is to help the people who relocate to these islands and buy properties there.
The policy only offers money for renovation and other similar expenses.
Fact no. 4 – Can I use the property as a vacation home or short-term rental?
Under the rules set forth by the policy, it isn’t possible to turn the property into a vacation home or a short-term rental like Airbnb.
The renovated property can only be used as a primary residence or rental property.
You can refer to the Vacant Property Refurbishment Grant for further details.
Important Information
Only the residents of Ireland can access this program; therefore, it is advised to proceed with caution.
Don’t trust any online channels or fraudsters saying you are eligible for €80,000 or get free citizenship/visa.
Having concluded the information, moving to Ireland may not seem advantageous, right?
Not exactly.
If you become a resident of Ireland and wish to spend time in solitude in a suitable property (obviously cheap), it benefits you.
At the same time, if you are a resident but don’t wish to make the property a primary residence, you can rent it out.
Remember that such huge properties, if built, can cost much money and time.
You need not worry about communication and transport as the government is taking active measures.
Bottom Line
I am providing this information for educational purposes, and I am not affiliated with this program.
There is a much better program than this, i.e., Portugal Golden Visa, which is quite advantageous.
If you want to find out how to get your European passport through investing with the help of Portugal Golden Visa, contact me.
You are in luck if you are an expat trying hard to find effective investment services.
I have helped numerous clients achieve financial freedom through effective wealth management services.
Feel free to contact me to find out whether you can potentially benefit from the top-notch services I offer.
Having said all that, I strongly hope that the information in this article was helpful to you.
Pained by financial indecision? Want to invest with Adam?
Adam is an internationally recognised author on financial matters, with over 760.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.
