Proposed changes to Business Permission criteria

CHANGES TO BUSINESS PERMISSION CRITERIA

Brophy Solicitors has received a number of enquiries regarding the Department of Justice's proposed policy changes in respect of the eligibility criteria for Business Permission in the State. While the details of these proposed changes has not yet been confirmed, we understand that the purpose is to lessen the current restrictive requirements that businesses setting up in this State must meet. We welcome the proposed changes as the current criteria have proven to act as a bar to many genuine businesses locating to this State, particularly the non negotiable requirement of an initial investment of €300,000. In the current climate, it would seem only reasonable to encourage further business and employment to the State, rather than prohibit it. However, as far we are aware, there has been no move towards implementing these changes in recent months. We have contacted the Business Permission Section of the Department of Justice to request for further information on the proposed changes, and  we have been informed in response the current policy remains as detailed on the INIS website.

We will keep you updated as to any further changes in respect of this matter.

Karen Berkeley, Brophy Solicitors

19.07.11