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As a member of the European Union (EU), Ireland has very strong economic relations with the United States and enjoys a strategic partnership on a variety of global policy initiatives. By US government estimates, the economic relationship between the US and the EU accounted for approximately one-third of the total goods and services traded throughout the world in 2012, as well as almost half of the world’s economic output. Currently, there are no restrictions for Irish citizens who wish to transfer money from Ireland to the USA.
Irish citizens who wish to live or work in the United States for an extended period of time must apply for the appropriate visa or be granted permanent resident status. The US government issues several different types of visitor and business visas. Several factors, including the migrant’s profession, intended duration of stay, and current employment will determine which type of visa is right in each particular case. The US Embassy website will provide more detailed information on business and travel visas necessary to enter the country.
In most cases, foreign nationals who plan to travel to the US for short visits lasting less than 90 days, a visitor or business visa is still required. However, Irish citizens benefit from a visa waiver programme, which applies to a total of 36 countries in Europe. Irish citizens must register online through the Electronic System for Travel Authorization (ESTA) and pay a small fee; fees are subject to change, but were US$14 as of early 2015. Once this step is complete, travelers may enter the country with only a valid passport. For stays of more than 90 days, an immigrant or non-immigrant visa is required.
There are few restrictions for Irish citizens who wish to own or rent property in the US. Because each state maintains its own real estate laws, it is advisable to work with a licensed real estate attorney or real estate agent who can advise Irish citizens on regional and federal real estate laws during the purchasing process.
An Individual Taxpayer Identification Number (ITIN) is required for all non-US citizens who wish to purchase property in America. To obtain an ITIN, an application must be submitted and approved by the Internal Revenue Service (IRS), a process which can take five weeks or more. Citizens of any country who wish to purchase real estate in the US must first provide their ITIN when closing the property transaction. When purchasing real estate, keep in mind that there are no restrictions to transfer money from Ireland to USA, as there are currently no international currency transfer limits between the two countries.
In January 1998, Ireland and the United States entered into a tax treaty for the avoidance of double taxation of citizens living and working in either country. For Irish citizens living and earning money in the US, a tax return must be filed with the Irish government, but Irish citizens may be eligible to receive tax credits based on any taxes paid while living and working in the US. If taxes are owed, there are currently no restrictions for Irish citizens who would like to transfer money from Ireland to USA.
A student visa is required of all foreign citizens who wish to study in the US. Before an Irish citizen can apply for a visa to study in the US, they must first apply for and be accepted to a US-accredited school or program. The student will receive the necessary application documents to apply for a student visa from the school once the university, school, or program has issued an acceptance.
It is advisable for Irish citizens who are planning to visit America to purchase travel insurance or a short-term health insurance policy to cover them while they are in the US. American healthcare is a pay-as-you-go system, and most American citizens obtain health insurance through their employer. It is mandatory for anyone living or visiting the US to have at least the minimum levels of health insurance, or pay a yearly tax.
As one of the countries of the EU, Ireland participates one of the largest and most important economic relationships in the world. Transatlantic goods and services trade flows between the EU and the United States were valued at approximately $2.7 billion per day in 2012. As part of the EU, Ireland enters into a number of trade, investment, and global safety initiatives throughout the world with the United States. Discussions for a new trade and investment agreement, the Transatlantic Trade and Investment Partnership (T-TIP) represent the latest mutual trade and investment collaboration between the two regions. Imports from the combined EU countries to the US were valued at $387 billion in 2013, up 1.5% from the previous year. Ireland is the fifth-largest importer to the US, accounting for $31.6 billion of the total amount.
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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
