Europe’s third-largest, and British Island’s second-largest Island, Ireland is geopolitically divided into two parts. The Republic of Ireland, or simply Ireland, and Northern Ireland which is part of the United Kingdom. The Republic is surrounded by the North Channel, the Irish Sea, and St. George’s channel.
Ireland has a flourishing and vibrant economy, largely focused on services in the fields of science, medicine, agribusiness, food production, and technology. The education sector of the Republic has also grown, and universities here compete on international platforms based on education delivery, originality, innovation in ideas, and research.
Drenched in history, heritage, legends, and folklore, the Emerald Isle offers astonishing country dwellings. The crowds are generally affable and have a pleasant sense of humor. The entire country looks like one big town. These and many other factors make Ireland a preferred retreat for retirees to spend their golden years in tranquility and happiness.
Retiree residency in Ireland
In 2011, the government of the Republic of Ireland introduced a retirement residency option, known as Stamp 0. To qualify for Stamp 0 one must prove that he/she has sufficient financial means; for an individual, an annual income equivalent to EUR 50000 is required. In the case of a couple, the combined income must be at least EUR 100000. Besides the mandatory annual income, a lump sum amount should also be shown which is adequate to purchase a decent accommodation in Ireland; though it is ambiguous as to what constitutes an adequate amount, a rough estimate would be around EUR 150000.
Moving to Ireland as a retiree
As a law EU, EEA, and UK citizens can live in the Republic of Ireland without adhering to any conditions. For most third-country citizens, a visa is required to enter the country. Ireland offers visa D for a long stay, provided you fulfill the financial requirements as stated earlier.
Required documents
At the time of applying, below mentioned documents are mandatory to produce:
- Copies of passport(s) (all pages)
- Copy of birth certificate
- Details and evidence of Irish relatives/associations if any
- Evidence and availability of liquid assets, bank statements; verified by an Irish accountant firm
- Evidence of medical insurance coverage
- Police character certificate
Housing
Comparatively, houses in Ireland are expensive, both rental and purchase. So if you plan to buy or rent out a property, you must gather all the information regarding the process, fees, and prices involved in the process. The government doesn’t place any restrictions on buying and renting a house, apartment, or land, however, the process is slow and may take a while.
Health services
While the primary and secondary healthcare services are accessible nearby, tertiary and trauma centers are hours’ drive from the countryside. Considering this, if you happen to have a serious health condition, retiring to a remote town or countryside may not be a wise option.
Weather considerations
It is always prudent to try before the purchase; the same may apply to relocation to a new country. Hence before you commit to moving to Ireland for a long time, or permanently, it is advised that you spend some time here between March and November, as during this period Ireland is a cold, damp, and gray country. Usually, retirees and tourists visit Ireland in the spring season when the Emerald Isle is blooming.
Taxes for retirees
Ireland considers social security income and pension as taxable where the person is a tax resident. Furthermore, if you happen to stay in the country any longer than 183 days in any given year, or beyond 280 days in two years, you will be considered a tax resident (in case of the latter, the tax rule be applied in the second year). There are two tax slabs in Ireland’s tax system, 20%, and 40%.
