Dáil Éireann debate -
Wednesday, 15 May 1996

Vol. 465 No. 4

Written Answers. - Irish Passports.

Austin Deasy

Question:

27 Mr. Deasy asked the Minister for Justice the number of Irish passports granted to foreign nationals on the basis of their investing significant sums of money in specific projects in Ireland in each of the past five years; the number of Irish passports granted to date in 1996; if she will list all the projects involved; and the amount of money involved in each case. [9801/96]

Minister for Justice (Mrs. Owen)

Details of investment-based naturalisation applications in the period prior to 1992 are not available as no arrangements were in place at that time which would distinguish these type applications from non-investment applications.

In 1992, 20 persons were naturalised on foot of their investments in the State, in 1993 the number was 14 and in 1994, 17. In 1995, the number was 16. However, ten of those were cases which had been approved in early 1994 before the then Government decided that all investment-based applications should be assessed by an Interdepartmental Advisory Group operating within terms of reference. The other six cases in 1995 were subject to those procedures and following recommendations by the advisory group, the investors in question were naturalised by me. To date in 1996, four persons have been naturalised on foot of their investments in the State, and their applications were also processed in accordance with the advisory group, etc., procedures.

It has never been the practice to identify companies in receipt of naturalisation-based investment and neither has it been the practice to disclose the precise amount invested by the naturalised applicants.

I am, however, prepared to say that in the years 1992 to 1994, amounts ranging from £500,000 upwards were invested by naturalisation applicants. Since late 1994, when the new procedures referred to above for assessing these cases came into force, the minimum investment required is £1 million. All applications approved by me have invested at least this amount. As regards the areas of industry where investments have been made, these include shipping, forestry, mining, medical research, engineering, timber processing, food processing, computer software, electronics, medical equipment and so on.