Ireland is paying up to $92,000 to people who buy homes on remote islands. Here's how it works.

Dreaming of moving abroad to Europe? Not only is that possible, but one place will even pay you a hefty sum to do it.

In 2023, Ireland launched its "Our Living Islands" program, which offers to pay participants about $90,000 to move to a select number of its gorgeous isles.

"Our coastal islands and their communities are an integral part of the fabric of rural Ireland. They also an integral part of the State's heritage and have a special significance in Irish culture," the Irish government explains about the program.

These islands, it added, are located just off the coast; however, they are "cut off daily by the tide" and "are not connected to the mainland by a bridge or causeway, have permanent year-round populations and are not in private ownership."

One of its main goals with the program is to re-populate these islands, and, "in collaboration with island communities, create the conditions which will encourage young people to remain on, or move to, the islands to live, work and raise families."

There are some pretty big caveats with the program to be aware of. As Euro News explained, the government will shell out a little more than €80,000 to those willing to move, however, that money must be used to purchase and revitalize abandoned properties through the Irish government's Property Refurbishment Grant Scheme Croí Cónaithe. The property must also have been constructed before 1993 and have been abandoned for at least two years. It must also act as an actual home. Sorry, no Airbnb is allowed.

According to International Living, in order to take part, you must first have Irish residency. This can be obtained in a number of ways, including the "Stamp 0" visa that targets retirees (though you must show proof of minimum income of more than $50,000 a year), or if you can snag dual citizenship through descent. The requirements for that are steep and include proving either your parent or grandparent was an Irish citizen at the time of your birth.

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