The Irish government has devised a plan to stimulate the population growth of remote islands in the Atlantic Ocean. They are offering grants of up to $92,000 to individuals interested in relocating there.
Among these islands is Inis Mór, one of the Aran Islands located off the West coast of Ireland. Inis Mór gained recognition as a filming location for the Oscar-nominated 2022 film “The Banshees of Inisherin.” These islands are known for their rugged landscapes and rich history, attracting many tourists.
The Irish government released the plan earlier this month, highlighting that around 30 islands off the coast of Ireland have permanent year-round residents who are isolated due to daily tides and lack of bridge or causeway connections to the mainland. Some islands have as few as two residents living there throughout the year.
Over the past two decades, the population of these islands has declined significantly, with less than 3,000 people spread across them. However, the islands remain popular tourist destinations, attracting over 300,000 visitors annually.
The plan recognizes the challenge faced by island communities worldwide in maintaining their population levels. Many young adults leave the islands in search of better education and employment opportunities elsewhere. This contributes to an above-average age profile within these island communities.
This initiative is reminiscent of Italy’s plan to sell homes in small towns for 1 euro in order to attract new residents. However, there have been numerous stories highlighting the difficulties and high costs of renovating these 1 euro homes.
Here is what you should know about the grants offered by Ireland:
How much funding is Ireland providing?
Ireland is offering up to nearly $92,000 (€84,000) to individuals who renovate a “derelict building” on one of the islands. Those who choose to fix up a vacant property can receive up to approximately $67,000 (€60,000) for renovation purposes. Further details are provided on the government’s website.
This expansion builds upon the earlier Vacant Property Refurbishment Grant program, where participants could receive around $55,000 for renovating vacant properties.
It’s important to note that while the Irish government’s website discusses more generous funding specifically for island renovations, it is not yet available.
What are the qualifications for funding?
The government has established specific criteria for individuals to be eligible for funding. Some of these criteria include:
- The property must have been vacant for at least two years and built before 2008.
- You must either own the property or be in the process of buying it.
- Once the renovation is complete, you must reside in the home as your primary residence or rent it out.
- Registered companies or developers are not eligible for the grant.
- You must have paid your taxes and have them in order.
How can I apply for funding?
You must complete an application form and submit it to your local city or county council for approval. Supporting documentation, such as proof of property ownership and evidence of the property’s vacancy for at least two years, must accompany the application.
What can the funding be used for?
The granted funds must be utilized for demolition work and renovation purposes, including structural repairs, roof replacements, and cosmetic enhancements like repainting.
Can Americans purchase properties in Ireland?
Yes, Americans can purchase properties in Ireland since there are no residency requirements for property ownership, as stated by the government. However, it’s important to note that buying a property does not automatically grant residency rights in Ireland. This may pose complications for Americans interested in applying for the $92,000 refurbishment grant for the Irish islands.
Americans can explore options such as applying for work permits or qualifying for residency by investing in Ireland or starting a business there.
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