Given the wealth of info we have on this topic here, I figured it'd be a good idea to capture all costs associated with Stamp 0 in one thread.
Archer was looking for info on this topic on another thread, which is what got me thinking to start this one.
@countydonegal my husband and I are on a similar quest! Any stamp 0 info would be greatly appreciated - especially in the vein of cost for application services!
At present there is no application fee as such. You compile the list of required docs, and send them off with a cover letter to the appropriate mailing address.
The main fee that people are incurring is the cost of retaining an accountancy service. The INIS insists that your financial eligibility be certified by an accountant in Ireland. Other's can chime in here, but I have seen quotes of between ~€200 and ~€1200 for this.
Others in the know...what other costs did you incur?
Liam -
I thought I'd provide a copy of an email I received today about since it reflects the possible cost for assistance with preparing/confirming financial information for the Stamp 0 application. I know Quintas has been mentioned in previous posts, but thought I'd provide their reply since it's current, especially the fees and contact information.
I do have another request for service information and fees out to James O'Donovan of O’Donovan Lavin Accountants and will post any information that he provides.
I hope the following is helpful.
Thank you!
My name is Adam McCarthy and I work in the Quintas tax department with Dave O’Brien. In order to prepare a financial verification pack we require the following documentation:
- Evidence of all finances available (i.e. last six months of bank statements, savings account statements, payslips, pension valuation, investment portfolios etc.) – This is to prove that you earn more than €50,000 per annum. Scanned copies of these will suffice.
- Evidence that you have access to a large sum of money to cover any major unforeseen expenses (typically the cost of a dwelling in the state) – This can be in the form of a property valuation or an investment that can be easily liquidated (if it is an investment then we will need confirmation that you have immediate access to the funds)
- Spreadsheet showing projected income in Ireland and expenditure on a monthly basis
- 2 photo ID and 2 documents showing proof of address (e.g. utility bill) notarized by a local official – the reason I need this is that we probably won’t meet in person
If you are unsure about whether a particular source of income or funds is allowable just send us the documents and we can verify if it will qualify.
The standard fee for this is €500 and can be broken down as follows:
- Request of information - €50
- Review of documentation - €150
- Review of Stamp 0 conditions to ensure qualification - €100
- Letter of verification of income & finances available - €200
If however the work required is more extensive, then our fee will reflect this.
As you intend on moving to Ireland next year the financial verification would need to take place around the time you intend to apply for the Stamp 0 cert so there is no need rush with this process at present.
Should you have any questions in relation to any of the above please do not hesitate to contact me.
Regards,
Adam
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If you are unsure about whether a particular source of income or funds is allowable just send us the documents and we can verify if it will qualify.
Great info, John, thanks. Especially the piece above. So many people have questions about what qualifies as legit income.
Thanks, John. I am not ready to apply for Stamp 0 or hire an accountant yet but wondering if you know what types of income are accepted by INIS towards the 50,000 minimum? E.g. I heard in the past that income generated by internet businesses is not counted. Also, the rules mention the term "net income" for the 50,000 minimum but not sure what that term means. Is that take-home income after taxes or other withholdings? Also, if income is paid off-shore e.g. in the US, does that income count or does the e.g. social security check have to be direct deposited into an Irish bank account? If income is denominated in USD or other foreign currency, what exchange rate does INIS assume?
Sorry for all the questions. Happy to reach out to the accountant you recommend but not sure if they would give me any information without asking for a consulting fee. Appreciate all your feedback to date. Thanks, Kevin.