Dáil Éireann Debate, Tuesday - 27 November 2012
520. Deputy Pearse Doherty asked the Minister for Justice and Equality further to his announcement on 24 January 2012 of the Immigrant Investor Programme and Start-up Entrepreneur Programme; the number of visas issued to date with respect to both programmes, and an analysis of visa numbers by country of origin of visa recipients. [52766/12]
View answer521. Deputy Pearse Doherty asked the Minister for Justice and Equality further to his announcement on 24 January 2012 of the Immigrant Investor Programme and Start-up Entrepreneur Programme; if he will provide an update on the creation of the special low interest Irish bond, referred to in his announcement. [52767/12]
View answer522. Deputy Pearse Doherty asked the Minister for Justice and Equality further to his announcement on 24 January 2012 of the Immigrant Investor Programme and Start-up Entrepreneur Programme; the overall volume and value of property sold to date by the National Asset Management Agency to visa recipients. [52768/12]
View answer523. Deputy Pearse Doherty asked the Minister for Justice and Equality further to his announcement on 24 January 2012 of the Immigrant Investor Programme and Start-up Entrepreneur Programme; the overall total investment to date in Irish business by visa recipients. [52769/12]
View answerI propose to take Questions Nos. 520 to 523, inclusive, together.
The Immigrant Investor Bond is one of the investment options available to potential candidates for the Immigrant Investor Programme which has been open for applications since April of this year. Details of the bond can be viewed in the guidelines for the programme which are available from the web page of the Irish Naturalisation and Immigration Service, www.inis.gov.ie. The bond has a term of five years and pays an annual interest rate of 1%. The bond has been created by the National Treasury Management Agency and cannot be traded or transferred during its term.
Details of the options on property investment are also outlined in the guidelines for the Immigrant Investor Programme. My officials inform me that, to date, no candidates have applied for consideration of investments in property or bonds as eligible investments under the programme.
On foot of recommendations from the Evaluation Committee meeting of 9 August 2012, I have approved immigration permission for one successful applicant under the Immigrant Investor Programme and two successful applicants under the Start-up Entrepreneur Programme. The Deputy will be aware that I cannot give details of individual immigration cases, but I will say that the three successful candidates originate from North America, Africa and Asia. Both projects under the Start-up Entrepreneur Programme fulfilled the requirement for a minimum of €75,000 funding for their respective high potential start-ups. The investment proposal in an existing Irish business approved under the Immigrant Investor Programme significantly exceeded the requirements of the scheme.
My officials have informed me that the Evaluation Committee will meet later this week to consider four applications under the Immigrant Investor Programme and thirteen applications under the Start-up Entrepreneur Programme. The Irish Naturalisation and Immigration Service continues to receive a significant level of inquiries on these programmes.
