Retiring to Ireland with Independent Financial Means: Stamp 0 Explained

Retiring to Ireland with Independent Financial Means: Stamp 0 Explained

Contributor:
Xeinadin

Date:

Share this article:

There are many reasons to move to and from different countries. Work, education and family all feature highly. And the reasons for migrating determine the rules and regulations that govern visas, conditions of entry and conditions of leave to remain.

If you are planning on coming to Ireland from outside the EU/EEA or Switzerland, and want to remain for more than 90 days, you need to apply for permission from the Immigration Service Delivery (ISD). Those permissions are referred to as ‘stamps’, in reference to the stamps you get in your passport on arrival (although these days you may not always get a passport stamp indicating your permission to remain – the main legal proof of permission is an Irish Resident Permit (IRP) card).

Stamps are numbered 1 to 6, with each type specifying different conditions on the terms of entry – the length or time you are allowed to remain, whether you can work or study, or neither.

There is another condition of leave that has its own application process, its own specific rules and even its own slightly unconventional stamp number. Stamp 0 is in some ways aptly named – it grants permission to engage in zero economic activity for the duration of your stay, nor can you access public services and benefits.

That said, it does offer a useful option for travelling to and residing in Ireland for extended periods without the more arduous application processes associated with travelling for work or study. So who is Stamp 0 for, and what conditions do you have to meet to qualify?

Temporary residence with independent means of support

Stamp 0 grants temporary residency in Ireland in blocks of a year. The main condition is that you must have independent financial means and neither need to work nor claim benefits to support yourself during your stay. If you do not have means to support yourself, you must have a sponsor in Ireland who can demonstrate the ability to support you fully during your stay.

There are three main circumstances in which Stamp 0 permission is granted:

  • You wish to move to Ireland in retirement and have the independent financial means to support yourself
  • You are the elderly relative of an Irish National, or a non-EU/EEA or Swiss citizen living in Ireland, and will be dependent on them during your residency
  • You are an academic visiting an Irish university or college (and are employed by an institution in another country that pays your salary).

Retiring to Ireland

The different circumstances in which you can apply for Stamp 0 permission all come with different requirements. If you want to retire to Ireland, the main condition is that you must be able to support yourself financially. This is defined as:

  • Having an individual income of at least €50,000 per year;
  • Savings or access to an equivalent lump sum sufficient to cover major expenses, such as the costs of a residential dwelling.

Proof of your financial means must be provided during the application process. This proof must come in the form of a spreadsheet detailing your monthly income and expenditure, plus holdings in all bank accounts, with all currencies converted to Euros.

One important step to note is that your financial documents must be certified by an accountancy firm in Ireland before you can apply.

Applying for Stamp 0

To apply for Stamp 0, you must complete a Temporary Permission to Remain (TPER) application form and submit it along with all supporting documentation required to the correct unit of the Domestic Residence and Permissions Division at the ISD. Different units deal with applications to retire in Ireland, to join family as a dependent, or travelling as an academic.

It’s important to note that your Stamp 0 application is separate from any visa application, if required. You may also need a visa, depending on which country you are from. You must apply for Stamp 0 permission before you apply for a visa. If you are looking to retire to Ireland, Xeinadin can help certify your financial arrangement as part of your Stamp 0 application. Get in touch with our friendly team today to speak to a qualified accountant.

Contact us today

This field is for validation purposes and should be left unchanged.