ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Ireland Will Pay You If You Are Willing To Move To Its Remote Islands; Here's How Much It's Offering

The government describes these 30 offshore islands as an "integral part of the fabric of rural Ireland" with a special significance in Irish culture."
UPDATED JAN 22, 2024
Cover Image Source: Pexels | Kelly
Cover Image Source: Pexels | Kelly

Sometimes a fresh start is all one needs in life. Moving to a different country, embracing a new culture, finding a new job or just no agenda living can be therapeutic. For those toying with idea of moving to a new country, here is some good news. Ireland is willing to pay tens of thousands to help you drop everything and chase that "new beginning."

The European country famous for its scenic coastlines and quaint towns has introduced a new policy that would offer attractive incentives to those who relocate to one of the country's offshore places. The program, which is a part of the "Our Living Islands" scheme, offers $92,000 upfront to those who are willing to move to one of these sleepy towns. 

The government describes these 30 offshore islands as an "integral part of the fabric of rural Ireland" with a special significance in the Irish culture.

Among these islands are Inis Mor and Bere Island, as reported by Fortune.

"This policy aims to ensure that sustainable, vibrant communities can continue to live - and thrive - on the offshore islands for many years to come," as per the Irish government.

How Much Is Ireland Offering Exactly?



 

The country is offering around $92,000 to people who are willing to renovate any desired, "derelict building" on one of these islands. People who want to fix a vacant property will get up to $67,000 for renovation, as per the website.



 

The specific requirements to be able to qualify for the funding are:

1. The property has been unoccupied for at least 2 years and was built before 2008.

2. One must own the property or be in the process to own it.

3. One has to live in the house and treat it like your primary home, or one can rent it out.

4. Only an Individual can qualify for the funding, registered companies will be denied funding.

5. One has to pay taxes. (No Brainer)

Fill out the application form and send it to the local city or county council for approval. One will need proof of property ownership as well as of the fact that it was vacant for at least two years. 

Yes and No. Yes, as there is no residency requirement when buying the property. No, because buying doesn't guarantee your residency in Ireland. Americans do have to apply for work permits or show that they are interested to start a business on Irish land. 

Pexels | Steven Hylands
Pexels | Steven Hylands

While assessing and researching as per individual needs is extremely important, here are some pros and cons of living in Ireland. 

Location: It's picturesque and well connected to all the other picturesque places in Europe. UK is just an hour away while Barcelona will require a little bit more planning and yet perfect for a weekend getaway from Ireland. Paris, on the other hand, well let's say you could eat pizza for your lunch and be back in Ireland for a cozy home-cooked dinner.

International Hub: Ireland attracts students from all over the world, and this makes English their official language. So, it's pretty safe to say that Ireland is a place that is relatively easy to settle in.

Low Crime Rate: Thanks to the country's strict laws, the rate of gun violence is nearly non-existent and the rate of crime is also pretty low. 

Offers Dual Citizenship: This is great if you don't want to give up your rights in your homeland.

Now with the pros established, here's a look at why one wouldn't want to move to Ireland.

The Infamous Irish Weather: Ireland is known for being gloomy and rainy all year round. Ireland also almost never sees snowfall. Having said that, Ireland does offer sunny skies, just remember to enjoy them while they last!

High Cost Of Living: The cost of living in the major cities can be quite steep. However, the rural areas of Ireland are not as pricey. 

Fuel Can Be Costly: Taxes are high. Expect to pay double the amount to fill your car up in Ireland as compared to the US.

MORE ON MARKET REALIST
The sisters said that with five of them in the house, their mom had to keep the lamp hidden.
1 hour ago
Taylor never knew he had won because the slot machine had malfunctioned.
12 hours ago
Dwyane 'the Rock' Johnson said that his friend's actions changed the course of his life.
21 hours ago
The Texas inventor pitched a generator named after him on the third season of Shark Tank.
1 day ago
Despite putting the contestant in an awkward position the host did get the audience to laugh.
1 day ago
Although fans have admired his energy on the episode for years, Paul revealed why he wasn't too happy.
1 day ago
It took more than a decade and an amazing invention for Les Cookson to secure a deal on Shark Tank.
2 days ago
The contestant was also defended by some who said they would've made the same mistake.
2 days ago
While the item received a record-breaking appraisal, a flaw prevented its value from going higher.
3 days ago
She has starred in classic films such as "Sixteen Candles", "The Lost Boys", and "Twister".
3 days ago
What is Judy Sheindlin’s salary per episode? Here’s what we know about the TV judge and her new IMDb TV show, ‘Judy Justice.’
4 days ago
Sajak was criticized by fans on the internet but the contestant clarified that it was just for fun.
4 days ago
Danielle Perez had gone viral after talking about the awkward moment on "The Price is Right" on social media.
4 days ago
The singer also got Malone's number but is only focusing on sharing his work with him for now.
4 days ago
The incident did not bring down the woman's excitement as she kept jumping on stage.
4 days ago
The guest had no idea whose face was engraved on the top of the box and how much it cost.
5 days ago
The young entrepreneur saw a common problem kids his age faced and came up with an invention.
5 days ago
It was a gift from the father of his first client to whom he had sold a condo.
6 days ago
The singer wanted to celebrate his journey by sending fans to the place linked to his early days.
6 days ago
Wait till you hear the list of weird prizes that 'Price is Right' gave in the '50s.
6 days ago