Social Housing Project Navan, Co. Meath - Irish Immigrant Investor Programme (IIP) - Secondpass Global
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Social Housing Project Navan, Co. Meath Irish Immigrant Investor Programme (IIP)
Table Of Contents
A letter from our Chairman 4 Past and Current Clients 27
Ireland 5 Irish Immigrant Investment Programme 29
Why Choose Ireland? 7 INIS Requirements 31
The Irish Economy 8 Social Housing Project – Introduction 33
Types of Companies Operating in Ireland 9 Fitzwilliam Group’s Letters of Support 35
The Irish Property Market 11 Fitzwilliam Group – Previous Residential Projects 37
The Irish Education System 13 Investment Terms 39
Universities in Ireland 15 Investment Procedure 40
Healthcare in Ireland 17 INIS Approval Letter 42
Irish Social Welfare for Citizens 19 Successful Cases 43
Irish Heritage & Sport 20 Irish Residency Documentation 45
TABLE OF CONTENTS
Fitzwilliam Group 23 Why Invest in Fitzwilliam Social Housing 47
Fitzwilliam Group Team 25 Contact Information 49
Our Advantage Ireland
• Population: 4.92 million
Our group, through our experienced team, can offer a unique combination
of services all ‘In house’. This ensures that all commitments are honoured • Nationality: Irish
to our Clients complete satisfaction. It is this approach that has ensured • Language: English, only English speaking country in
extensive repeat business from our existing Clients. Europe
EU
• Location: The island of Ireland is situated in the north
The Fitzwilliam team are committed to offering our clients a one stop
west of Europe and lies approximately 200km west of
solution for their application for Irish residency and property investment.
Great Britain
Our experienced management team are ready to support each applicant
from initiation through to the end of the programme. • Capital city: Dublin
• Size: 70,282 km2
“We take pride in delivering a personable first class service • Currency: Euro
to our clients, whom range from HNWIs to world renowned
international companies. I look forward to our team assisting • Climate: Average daily temperatures of 14°C-16°C in
your family in the near future and for many years to come.” summer 4°C-7°C in winter
• Time difference: GMT +0.00 (Daylight saving +1hr)
Ireland is 5 hours ahead of US east coast and 8 hours
behind Beijing and Hong Kong
• Democratic and stable political environment
• Member of European Union with access to a potential
William Daniel Smyth
IRELAND
market of 500 million people
(Chairman)
• 12.5% Corporate Tax Rate
• 11th best country in the world to do business (Forbes 2019)
4 5
Why Choose Ireland?
• Ireland is a safe and friendly location for family life.
• Ireland’s air quality is world renowned.
• Ireland’s food products are considered some of the best in the world.
• Ireland has a world renowned education system for students of all age levels. Ireland
offers free education to all First Level (4 to 12 years) and Second Level (12 to 18 years)
students.
• Ireland is an excellent location to establish a base for a European business.
• Ireland offers a fantastic base for retirement.
• Ireland’s private healthcare system is relatively inexpensive. A good private healthcare
plan for 2 Adults and 2 Children is approximately €1,500 per annum.
WHY CHOOSE IRELAND?
• Ireland has a temperate climate.
• Ireland has a multi ethnic populace and sparsely populated living environment.
• Dublin, Ireland’s capital is now ranked 43rd most expensive city in the world. Hong Kong
is ranked 1st. (Mercer’s 2019 Cost of Living Survey)
• Ireland is a neutral country and the 12th most peaceful country out of 195 nations to live.
(2019 Global Peace Index)
• Irish citizens are free to travel, live, work or be educated in any European Union state.
7
Types of Companies
The Irish Economy Operating in Ireland
• The Irish economy has many core strengths, • Ireland is the largest exporter of
namely its strong flexibility, a highly educated computer software in the world.
workforce, positive demographics and a pro-
• Ireland is home to 9 of the top 10
enterprise environment. The Economic and
pharmaceutical companies in the world.
Social Research Institute estimates that the
Irish economy grew by 8.2% in 2019 and is • Ireland is home to 8 of the top 10
forecasting GDP growth of 5.5% for 2020. technology companies in the world.
• Most-highly employable graduates (European • 50% of the world’s fleet of leased aircraft
Commission Study). is managed from Ireland.
• 7th for competitiveness (IMD World • Ireland is home to more than 50% of the
Competitiveness Yearbook 2019). top financial services companies in the
world.
• Best performing economy in the EU for the
last 4 years. • Ireland is home to 11 of the top 13 medical
device companies in the world. (Source:
• Irish Government finances were in surplus in
THE IRISH ECONOMY
Deloitte)
2018 and Ireland receives an ‘A’ grade from all
major credit rating agencies.
• 11th best country to do business in the World
(Forbes 2019).
8 9
The Irish Property Market
• The Irish property market peaked in February 2007 and • Average price of houses sold in Ireland rose by 1% in 2019
declined for the following 5 Years. (Property Price Register).
• Property prices nationally have increased by 82.6% from • There is still good value prooerty for sale in Dublin City
their low in early 2013. Dublin residential property prices
• The Fitzwilliam team can assist you in choosing your
have risen 93.4% from their February 2012 low, whilst
desired property investment.
residential property prices in the Rest of Ireland are 79.9%
higher than their May 2013 low.
Residential Property Price Index
500
THE IRISH PROPERTY MARKET
400
300
200
100
National Dublin Rest of Ireland Source: CSO Ireland
Charlotte Quay Dock, Dublin 2
11
The Irish Education System The Irish education system is made up of 4 levels:
• Pre-School* (3 to 4 Years of Age)
Irish students have an exceptionally high level of participation
• First Level* (4 to 12 Years of Age)
in the education system. Irish schools and colleges offer a
safe and friendly environment for international students. • Second Level* (12 to 18 Years of Age)
Education in Ireland is compulsory from ages 6 to 16. Private
• Third Level (18 Years +)
tuition is also readily available for students at all levels of the
education system. *Free of cost to all Irish residents
THE IRISH EDUCATION SYSTEM
13
Trinity College Dublin
Universities in Ireland Public Universities in Ireland
• Trinity College Dublin
There are eight public universities in Ireland which rank • University College Dublin
impressively well at international level and the country as a
• NUI Galway
whole is understandably a popular choice for international
students. The varied selection of higher education institutions • University College Cork
combines with historic cities, beautiful countryside and • Maynooth University
Ireland’s unique culture to make Ireland a highly attractive • Dublin City University
study destination.
• University of Limerick
• Technological University Dublin
UNIVERSITIES IN IRELAND
15
Healthcare in Ireland
Healthcare in Ireland comprises of two sectors, namely directly and then claim the cost of the consultation from the
public healthcare and private healthcare. For the purpose of private health insurance company.
the Immigrant Investment Program, beneficiaries must have
private health insurance (which is relatively inexpensive) Hospitals
while they reside in Ireland. When entering a hospital in Ireland, your private medical
insurance details are taken and in most cases the private
Health Professionals health insurance company will pay the hospital directly for
When dealing with health professional such as doctors at their services.
their private practices, patients pay the health professional
HEALTHCARE IN IRELAND
17
Irish Social Welfare for Citizens
Jobseeker’s Benefit
Weekly payment to people who are out of work and are
covered by social insurance (max. personal rate is €203.00
per week).
Jobseeker’s Allowance
For those who do not qualify for Jobseeker’s Benefit. Must
be capable, available and actively seeking work (max.
personal rate is €203.00 per week).
IRISH SOCIAL WELFARE FOR CITIZENS
Self-Employed Unemployment
Means tested on an individual basis.
State Contributory Pension
Dependent on social insurance contributions (max.
personal rate is €248.30 per week).
State Non-Contributory Pension
Means tested and must be over 66 years old (max. personal
rate is €237.00 per week).
Illness Benefit
Given to people who are unable to work due to illness
(max. personal rate is €203.00 per week).
Maternity Benefit
Must be covered by social insurance (max. personal
payment of €245.00 per week).
19Irish Heritage Sport
Whether it is nature, wildlife, folklore or built heritage, Ireland is a Ireland is a country passionate about sport and outdoor activities.
land of historical enlightenment. Diverse events are regularly hosted Irish professional competitors regularly rank among the world’s elite
nationwide and many are organised by local communities which lend in sports such as Golf, Equine Sports and Boxing.
great variety and authenticity. Examples of such occasions include
medieval fairs, wild life walks, lectures, poetry recitals, traditional ‘Gaelic Games’ which include ‘Gaelic Hurling’ and ‘Gaelic Football’ are
music sessions, storytelling, historical re-enactments, local history very popular in Ireland. Nearly every small village has ‘Gaelic Game’
walks, theatrical shows and maritime events. teams which all are welcome to join. Sport in Ireland brings people
and communities together to share a common passion.
IRISH HERITAGE & SPORT
20 21Fitzwilliam Group
Our group was founded in Ireland in 1975 and over the last 45
years we have built a strong reputation for providing pro-active
and efficient property services to a wide range of clients and their
professional representatives. Initially established as a building and
maintenance company, our group has successfully undergone a
controlled expansion into all aspects of the property industry.
Services
• Property development and construction services (complete
delivery cycle A-Z)
• Serviced office space (one of Ireland’s leading providers)
• Property investment (commercial and residential specialists)
• Property management (day to day management and
property maintenance)
FITZWILLIAM GROUP
• Asset management (maximising value of investment
properties)
• Provider of turn-key primary medical care properties and
social housing
• Immigration Investment (€50.6m of investment pledged to
date)
22 23Fitzwilliam Group Team
We maintain an experienced management team and skilled workforce. Our staff of over forty key individuals has the ability to
manage every aspect of our core services: Property Development & Construction Services; Property Investment; Property &
Asset Management; Immigration Investment.
FITZWILLIAM GROUP TEAM
25Fitzwilliam Group’s Past and Current Clients
The Fitzwilliam Group have provided property and investment services to some of the world’s most renowned brands.
PAST AND CURRENT CLIENTS
27Irish Immigrant Investment Programme (IIP)
The IIP was announced by the Department of Justice & Equality in January 2012 and is operated by the Irish Naturalisation
and Immigration Service (INIS). The ultimate objective of the programme is job creation and facilitating Irish economic
development.
• The IIP facilitates non-EEA nationals and their families who commit to an approved investment ‘Option’ in Ireland to
acquire a secure residency status in Ireland.
IRISH IMMIGRANT INVESTMENT PROGRAMME
• Investors must be of good character and have not been convicted of criminal offences in any jurisdiction.
• Investors must have a minimum net worth of €2m and disclose in full the source of their funds.
Investment Options
1. Enterprise Investment (*€1m for 4 year term) – Fitzwilliam Group’s Social Housing Project is approved by INIS under this
option. Investor monies (€1m) are secured by means of a legal ‘First Charge’ on property for the term of the investment.
2. Investment Fund (*€1m for 3 years) – Investment monies are not secured on assets and are subject to investment
performance.
3. Real Estate Investment Trusts (*€2m, for 5 year term) – Investment amount not competitive.
4. Endowment (*€500,000).
* Minimum requirement
21 29INIS Requirements
Evidence of Net Worth Evidence that funds can be transferred
Investors must have a minimum net worth of €2 million. All funds must be available to transfer to Ireland and can be
convertible into Euros at the time of your application being
Evidence of Funds approved.
Investors must provide proof of funds to be used for
investment. Evidence of Good Character
Your lawyer can help you obtain the necessary public security
Evidence of Source of funds evidence to support your application.
Investors must provide the necessary evidence to prove
the origin of funds. An accountant and a lawyer should be
appointed to deal with all sources of funding and any related
technical issues. The following sources of funding may be
accepted:
• Business and investment activities
• Deeds of Sale
INIS REQUIREMENTS
• Inheritance
• Divorce
31e
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Social Housing Project – Introduction
BELFAST
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in
45m
1hr
2hr
15min
40MIN Background to Social Housing in Ireland
GALWAY DUBLIN The Government of Ireland Action Plan for Housing and
Homelessness (July 2016) notes that the Government is actively
in
m
seeking ‘off-balance sheet’ mechanisms that facilitate investment
15
2 hr
r
2h
into Social and Affordable rental housing, in a manner that does
s
LIMERICK
ROSS LARE
not impact on the General Government Balance Sheet. This forms
in
m
45
r
part of the plan to deliver 50,000 units of social housing in the
2h
28
1
CORK
Town Centre period to 2021. Fitzwilliam Group’s intention is to work diligently
with Government Departments, Local Authorities and Housing
7
1
3
1
5 Minutes Drive 36
Associations during the lifetime of the Action Plan for Housing
and Homelessness.
21
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120 Acre Residential, Commercial,
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SOCIAL HOUSING INTRODUCTION
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Parkland & Enterprise Development Irish Government Approved Project
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the Irish Government as a qualifying investment project through
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the IIP. Please refer to Page 42 for Letter of Approval from INIS.
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10 Acres of Town Parkland
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Project Summary
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The Fitzwilliam Group are developing an 120 acre mixed use
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site known as ‘Boyne’ village which will incorporate Residential,
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Commercial, Parkland & Enterprise with phased completion
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Up to 1,000 Residential Units
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expected between Q4 2020 and Q4 2023.
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Under the Irish Immigrant Investor Programme, Fitzwilliam Group
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have received approval for €30m of funding for the development
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BOYNE VILLAGE
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45 Minute Drive from Dublin
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of 150 Social Housing Units within the Residential aspect of
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Residential Neighbourhood Centre Boyne Village.
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Boyne Village official launch - 21/10/2019
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Enterprise Campus Park Land
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Innovation / Co Work Hub on site
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33Fitzwilliam Group’s Letters of Support
FITZWILLIAM GROUP’S LETTER OF SUPPORT
Fitzwilliam Group Meeting at Government Buildings
Peter Vambeck (Director of Investment – Fitzwilliam Group); Damien English (Irish Government Minister for Housing &
Urban Development); Willie Smyth (Chairman – Fitzwilliam Group); Cillian Smyth (International Client Relations – Fitzwilliam
Group)
21 351
2 Fitzwilliam Group – Previous Residential Projects
5
The Fitzwilliam Group provide a professional and efficient delivery service for a wide range of Property related projects. Our
3 6 highly trained and skilled team pride themselves on their ability to bring efficiencies to the overall Property delivery process.
Many of our Professional staff have a Design Team background and are experienced in providing a “Turn-key” delivery
solution for a completed Building, from the co-ordination of design solutions right through to successful commissioning and
handover to the end-user.
The Fitzwilliam Group have completed over 500 Residential Units with a further 1000 Residential Units in development.
1 To Dublin
4
PREVIOUS RESIDENTIAL PROJECTS
2 IDA Business Park
3 M3 Motorway
4 Main Access Road
5 Navan Town Centre
6 N2 / M2
21 36 37Investment Terms
Minimum Investment Amount Irish Lawyer Fee
€1m (Note: Monies do not have to be transferred until an The Irish Lawyer fee is dependent on the specific
application is approved by the Irish Naturalisation and independent Lawyer chosen by the Investor to represent
Immigration Service). them in Ireland.
Use of Investment Funds Recouping Investment
Monies invested in Fitzwilliam Group’s Social Housing Project After 4 years an Investor’s funds are projected to be returned
will be used for the development of Social Housing at Boyne within 12 weeks of the Investor calling on the funds.
Village, Navan, Co Meath.
Flexible residency
Security of Investment Funds Investors only need to spend one day per calendar year
Investor monies (€1m) are secured by means of a legal ‘First in Ireland to meet the residency requirements of the
Charge’ on property for the term of the investment. A ‘Red programme.
Book’ Property Valuation prepared by a member of the Society
of Chartered Surveyors Ireland will be provided for this purpose. Management Experience not required
The immigrant investor does not require business
INVESTMENT TERMS
Term of Investment management experience.
4 Years.
Language skills and qualifications not required
Return on Investment This immigrant investor programme has no English language
0% per annum. skills or qualification requirements.
Health Check not required Naturalisation
The immigrant investor and family members (if applicable) do Investors living in Ireland for five years can qualify for Irish
not require a health screening check. / EU citizenship.
38 39Circa 2 Months The investment must be completed
Circa 6 Months for
to prepare the within 90 Days of receipt of the
the INIS to review
documentation ‘Pre Approval Letter’
1 2 3 4 5 6 7 8 9 10
Investor contacts Immigration Fitzwilliam Group Application is The Investor The Investor’s Investment monies The following Investor applies After the 4 years
one of Fitzwilliam Agent assists the submits the approved by the assigns an independent Irish transferred to documentation is for D Type investment term is
Group’s approved Investor to prepare application to INIS Department of independent Irish Lawyer receives Fitzwilliam Group’s then submitted single entry completed, the €1
Immigration the application during the next Justice and ‘Pre Lawyer to protect contact from Irish Lawyer. This to INIS: (1) visa. Fitzwilliam million is returned
Agents to select documentation available window Approval Letter’ is their interest Fitzwilliam Group’s marks the first Lawyer Letter & Group to arrange to Investor
an IIP project issued and thereafter Lawyer and reviews day of the 4 Year (2) Fitzwilliam Investor to attend
transfers €1 million all Investment and investment term. Letter stating to INIS HQ to
to their Lawyer’s Security documents, monies have obtain t their Irish
INVESTMENT PROCEDURE
client Account in Title Deed, Property been invested Residency
Ireland Valuation, etc. Once (3) Evidence
all is in order, of transfer of
the Investor will sign investment
the contract monies. Thereafter
‘Full Approval
Letter’ is issued
40 41INIS Approval Letter Successful Return of
Investment Funds
Fitzwilliam Group’s Social Housing Project was approved by
the Irish Government in June 2019 as a qualifying investment In August 2019 the Fitzwilliam Group were pleased to
project through the Irish Immigrant Investor Programme return in full the first tranche of investment monies received
(IIP). For approved projects under the IIP, Fitzwilliam through the Irish Immigrant Investor Programme (IIP).
Group has a 100% success rate with the Irish Naturalisation These investment monies were originally invested in August
& Immigration Service. Investors who choose Fitzwilliam 2015. The Fitzwilliam Group have now come full circle with
Group’s Social Housing Project are guaranteed approval respect to the IIP and continue to offer our Investors market
under the IIP subject to their application paperwork being leading secured investment options. To date all Fitzwilliam
in order. Group investors have successfully received their investment
monies repaid in full at the end of thier investment term.
Successful Cases
“I invested €500,000 with the Fitzwilliam Group in August
To date 63 Investors have successfully received their letter
2015 and successfully obtained my Irish residency under
of approval for Fitzwilliam Group projects. Our team works
the Irish Immigrant Investor Programme (IIP). I have now
diligently with our Immigration Agent partners to ensure
SUCCESSFUL CASES
received my investment monies paid back in full 4 years
that our Investors’ documentation is well received by the
later! The Fitzwilliam Group team have at all times acted
INIS.
professionally and I would highly recommend the Fitzwilliam
Group for anyone considering achieving Irish residency under
the IIP. In the future I look forward to working with them on
expanding my property portfolio in Ireland.” - Fitzwilliam
Group Investor
Willie Smyth (Chairman – Fitzwilliam Group); Fitzwilliam
Group Investor; Peter Vambeck (Director of Investment –
Fitzwilliam Group)
42 43Irish Residency Documentation
Stamp 4 IRP CARD
This is a stamp which is placed in a passport, it specifies that Irish Residence Permit (IRP) Card, this is a credit card style
a person may reside and work in Ireland, this is the residency authorization. The IRP card contains a persons photograph
permit. It is valid for 2 years initially, then extended by 3 and details of their residency status (i.e. that they have a
years. Then it is extended in 5 year intervals. stamp 4 etc.)
Multi Entry Visa
This is a passport sticker which states that a person under 16
years of age may enter in and out of Ireland for the duration
of their parent’s Irish residency permission
IRISH RESIDENCY DOCUMENTATION
44 45Enda Kenny (Ex-Irish Taoiseach) and
William Smyth (Fitzwilliam Chairman)
Why Invest in Fitzwilliam Group’s Social Housing Project?
• Fitzwilliam Group were established in 1975 and have been a
trusted promoter of the Irish Immigrant Investor Programme
since 2012.
• Fitzwilliam Group have constructed over 500 Residential Units
with a further 1,000 Residential Units in development.
• Investor monies (€1m) are secured by means of a legal ‘First
Charge’ on property for the term of the investment. A ‘Red
Book’ Property Valuation prepared by a member of the
Society of Chartered Surveyors Ireland will be provided for this
purpose.
• Fitzwilliam Group has established links with high ranking
government officials in various departments of the Irish
government.
• Fitzwilliam Group possesses a comprehensive knowledge of
the application procedure and the requirements of the INIS.
• Fitzwilliam Group can facilitate an introduction to our
WHY INVEST ?
recommended legal, accounting, medical, educational and
other professional partners in Ireland.
• To date all Fitzwilliam Group investors have successfully
received their investment monies repaid in full at the end of
thier investment term.
46 47Contact Information
CONTACT INFORMATION
Information is correct at the time of printing. All information provided is subject to terms and conditions.
The information set out in this publication in relation to immigration investment is intended as general
guidance only. Before investing, independent legal advice should be obtained.
49Social Housing Project Navan, Co. Meath Irish Immigrant Investor Programme (IIP)
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