The Start-up Entrepreneur Programme (STEP) in Ireland is designed to attract high-potential entrepreneurs from outside the European Economic Area (EEA) who have innovative business ideas and wish to establish their start-ups in Ireland. Here’s a detailed overview of the program:

Eligibility Criteria

1. Innovative Business Proposal:

The business must be in a high-potential area that has the potential to create at least 10 jobs in Ireland and achieve €1 million in sales within three to four years.

The business should be new, innovative, and contribute to the growth of the Irish economy.

2. Minimum Funding Requirement:

Entrepreneurs must have access to a minimum funding of €50,000. This can be through personal funds, funding from a venture capital firm, business angel, or a combination of these.

3. Business Plan:

A comprehensive business plan must be submitted, outlining the product or service, market opportunity, financial projections, and overall business strategy.

4. Character and Health Requirements:

Applicants must be of good character, meaning no criminal convictions, and be in good health.

Application Process

1. Initial Application:

Submit a detailed business plan along with evidence of the required funding to the Irish Naturalisation and Immigration Service (INIS).

Pay a non-refundable application fee of €350.

2. Evaluation:

The application is evaluated by the Evaluation Committee, which assesses the viability and potential impact of the business proposal.

If the application is successful, a letter of approval will be issued.

1. Residence Permission:

Once approved, the entrepreneur is granted permission to reside in Ireland for an initial two-year period.

This can be renewed for a further three years if the business continues to operate successfully.

2. Long-Term Residence and Citizenship:

After five years, the entrepreneur can apply for long-term residence.

Citizenship can be applied for after eight years of residence.

Family Reunification

Entrepreneurs who receive approval under the STEP can bring their immediate family (spouse and children) to Ireland. Family members are granted residence permits that are contingent on the continued success of the business.

Benefits of the STEP

Ireland offers a favourable business environment with access to the European market, a skilled workforce, and a supportive ecosystem for start-ups.

Entrepreneurs under the STEP can leverage Ireland’s low corporate tax rate and extensive network of double taxation treaties.

Key Considerations

The business must be actively managed from Ireland, and entrepreneurs are expected to be physically present in the country for the majority of the year.

It’s crucial to maintain accurate records and be prepared for periodic reviews to ensure ongoing compliance with the program’s requirements.

Conclusion

The Start-up Entrepreneur Programme in Ireland is a robust opportunity for international entrepreneurs seeking to establish innovative businesses within a supportive and thriving ecosystem. By meeting the program's criteria and demonstrating a high-potential business model, entrepreneurs can gain access to Ireland's market and, eventually, long-term residence or citizenship.