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Dublin: 3 °C Saturday 25 May, 2013

Foreign entrepreneurs should get special Irish visas – TD

It can be hard to attract rich entrepreneurs to set up business in Ireland if it’s hard for them to get a visa – so Fine Gael TD Peter Mathews has proposed a new special visa for them.

Google's offices at Grand Canal Dock in Dublin. Peter Mathews suggests entrepreneurs from countries should be encouraged to set up business in Ireland
Google's offices at Grand Canal Dock in Dublin. Peter Mathews suggests entrepreneurs from countries should be encouraged to set up business in Ireland
Image: Eamonn Farrell/Photocall Ireland

FOREIGN ENTREPRENEURS WHO want to invest in Ireland should be given special visas, a Fine Gael TD has proposed.

Dublin South TD Peter Mathews has said that it is “difficult” to attract high net-worth entrepreneurs, particularly from countries such as Brazil, Russia, India and China (BRIC), if they are unable to obtain a visa to live and work in Ireland.

The IDA would be able to headhunt specific individuals or companies from the four BRIC countries if there was a special visa available and use Ireland as a base to export to Europe and beyond, said Mathews.

“Necessary safeguards can be introduced to ensure that only entrepreneurs prepared to invest significant sums of money in an enterprise established to generate significant employment in Ireland will quality for the visa,” said Mathews.

Budget 2012 contained a number of specific measures aimed at making it easier for companies in Ireland to export to growth areas such as the BRIC countries.

The TD said that foreign direct investment by American companies in Ireland in the 1990s helped propel economic growth and that it can happen again.

“We can replicate this with Brazilian, Russian, Indian and Chinese companies,” he said. “It is very difficult to achieve this if foreign entrepreneurs who may be willing to invest significant sums in Ireland are unable to obtain a visa to live and work here”.

The TD echoed recent comments by Taoiseach Enda Kenny and Junior Minister Brian Hayes that the government is prioritising job creation.

“Job creation will be key to our recovery. The best way to achieve this is to prioritise trade with economies experiencing rapid and sustained growth,” said Mathews.

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Comments (24 Comments)

  • Yep. I wonder though what idiot signed off on the ‘National’ Broadband scheme with not a hope of any Irish jobs in Ireland, bar the few Three have. All tech support from Bombay!! Despite calling to their shop in Roscommon, it took a week to get set up as the original equipment was faulty, then the reception is awful, then try dealing with support personnel who are culturally different and really don’t sem to understand what the problems are. I would say if the majority of an entrepreneur’s jobs aren’t being created on the ground here then they shouldn’t get any visa or government sponsored help at all.

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    • Economic growth is not a zero sum affair. 50 jobs here and 500 in a BRIC country is still 50 more jobs than we would have had regardless and any links and relationships developed can only benefit us in the long term. Also you seem to be implying all BRIC products and services are shoddy based on one example. This is patently wrong for the most part, many of our products these days come there or have components from there and generally work perfectly well.

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  • Good that Matthews is finally making a platform for himself now that he realises Government won’t give him one. This is a very simple, very good idea.

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  • And to think we made a fuss before about buying Irish passports!

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  • Why can’t the government tell the banks to lend to the IRISH ENTREPRENEURS, you have to build employment at home, not by selling passports,, besides the FOREIGN ENTREPRENEURS will invest in the country if the conditions are right.

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    • Because we already saw what happens when the government encourages banks to do anything, example – mortgage lending. Do you want another bubble? Plus I thought the banks were greedy and all the socies hated that. Are the banks not greedy enough now? Why don’t they want to make some profit by lending to entrepreneurs? Maybe it is because they got a feeling that this whole euro project might collapse and that creates uncertainty?

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  • I’m far from being a FG fan but this is the kind of common sense thinking we need.

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  • This is the kind of thinking that is required. Bill Liao an Australian citizen who one of the pioneers of social networking with Xing now lives in west Cork and invests in Irish business through his venture capital firm. He, along with James Whelton, founded Coder Dojo which teaches kids to code- the Pizzabot App that got 9 million downloads came from a kid who goes to classes there.

    Despite his willingness to invest in Irish start-ups it still took Bill no less than three attempts to get a visa to live here. He was refused twice before it was given. Luckily for us the civil servant eventually saw sense and granted him a visa to live and work here but the whole process must have made him think twice about living and investing in Ireland.

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  • “No Irish need apply”.

    Ireland, 2012.

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  • Been here before under the ‘Passports for Sale’ policy. Did wonders to dig out the country didn’t it?

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  • Good man Peter !
    No worries that our own entrepreneurs are left frozen out of the banks …
    Let’s do politics and invent some other solution and let’s get some Brazilians in to show us how to salvage this mess
    Inspiring stuff from the loner

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  • Very nice, charity begins at home,now this tool wants to attract foreign investment wih special visa conditions , looking at some of the countrys mentioned we should brace ourselves for a new breed of money laundering scumbag oppertunists who i am sure will be happy to avail of whatever freebie is on off , Matthews is talkin out of his jacksey and hasent got a clue, self help begins at home with us Irish at the helm not by inviting dubious investment from outside to once more take advantage of this type of cap in hand policy. Ireland wake up!!!!! now

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    • If foreign entrepreneur come to Ireland they get no freebies, they are registered to work here so They pay income Irish tax and corporation tax, so whether they employ any Irish people or not they are pumping money into the economy. If enough are encouraged to come, they will get our economy moving again and at minimum cause growth in service jobs and exports.

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  • What about giving our own a step up that way we can support our own first then wait till we see how many we can bring home first then see what is left for the visitors

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    • Support who? What are those “our own” gonna make and where are they gonna export it to? Stop moaning and ask your own credit union to lend to “our own” entrepreneurs. Let’s see if you want to put your own money where your mouth is.

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  • Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, Money, anything for money.

    The word Judas comes to mind for Irish Politicians.

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  • Why just from these countries. I don’t even know if people from china would really be interested in setting up large scale enterprises in Ireland .

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  • Censored again ..
    Brilliant …. Democracy at work Christine – the Brazilians will love you

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  • Actually, It’s not that hard at all to attract rich entrepreneurs to invest in this country. All you need is conditions where they would be able to make a profit on their investment. All you need is less bureaucracy, lower taxes and less nonsense regulation and then they will run to this country in their thousands and then we won’t even need all this welfare because there will be a sh*tload of new jobs to go around. Simples.

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  • Finally the rocket scientists are solving the first differential equation. What a thought!

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