You dream of moving in Ireland? It’s easy for foreigners to choose Ireland because of its amazing scenery, lively cities, and affordable real estate.

Is it really that easy to buy property here as a foreigner in Ireland? We will walk you through all the details. This includes information about property prices in Ireland, best places to live, how you can get a loan, and many other topics. So, let’s get started.

1. It is possible to buy property in Ireland from foreign nationals without restriction. This means that non-EU/EEA nationals and EU/EEA citizens can both purchase property in Ireland.
2. Ownership of residential property in Ireland does NOT give the owner the right to live here. Property ownership is treated as a separate entity. Each person’s personal circumstances determine whether the right to reside or stay in Ireland. For more information, please visit Irish National and Immigration Service.
3. Likewise, a non-EEA resident who owns commercial property in this country does not have the right to operate a company out of it. A permit from the Minister is required. EU/EEA nationals, on the other hand, can own a business and live in Ireland. This is according to EU law’s general principles. One director of a company that is resident in Ireland may allow it to operate a business from the property. However, the rights of each director/employee to live in Ireland will be determined based on each individual’s particular circumstances.
4. It is important to know that a tenant residing in Ireland of a nonresident Landlord must withhold 20% from the annual rent and pay the Revenue the remainder unless the nonresident landlord has appointed an ‘Collection Agency’ to assess the rent. While a collection agent is often an estate agent, accountant, or solicitor, it can also be any person who lives in Ireland. After a collection agency has been appointed, a tenant is entitled to pay the full rent amount to the Irish resident agent. A simple way to appoint an agent is to complete the Income Tax Registration Form For Collection Agents and submit it directly to Revenue. The Landlord first needs to register their tax or PPS numbers for income tax. The Collection agent will then have to apply to Department of Social Protection for a separate Personal Public Service, or tax Number. This number will be linked to the landlord’s tax number in Ireland. Revenue will recognize a Collection Agency and allow the tenant to pay the rent directly to the Collection Agent.
5. A purchaser must pay stamp tax at 6% of any commercial property transactions. Stamp duty for residential property transactions is 1% of the total market value and 2% of any excess. A purchaser must pay stamp duties within 30 calendar days of closing the transaction. A PPS, or tax number, is required to file a Stamp Duty Return. This will take approximately 8 weeks to issue from Department of Social Protection. In this case, the purchaser could be delayed in completing the transaction. Persons and companies that have never lived or operated a business in Ireland may not have a PPS/a Tax Number. They could therefore be subject to the delay.
6. The conveyancing process in Ireland is generally divided into three stages. Negotiation is usually a negotiation stage where private individuals and/or estate agents or representatives negotiate the sales price, and other terms. It is common in Ireland that solicitors are involved in the negotiation stage. This is because once the contract is signed by both parties it is often possible to close the transaction quickly. Each transaction will vary in terms of the length of the purchase, including whether the purchaser is buying only cash or with both cash and the mortgage benefit. It should take less than four weeks to complete the conveyancing process if all goes well.
7. A local property tax is an annual charge of up 0.18% of the value of residential properties in Ireland that exceed EUR1m. An additional 0.23% must be paid each year to the Revenue. This is something potential investors need to keep in mind before buying a property to let.
8. Rates for commercial property are payable to the local authority where the property is located. The property size and other factors affect the amount that is payable.
9. When the property, whether residential or commercial is located within a serviced area, service fees may be charged to the management company.
10. Ireland has entered into comprehensive double taxation arrangements with 73 countries. In general, non-resident landlords will pay no more taxes than they would in their home country.