Wednesday, 2 April 2014

Questions (168)

Seán Fleming

Question:

168. Deputy Sean Fleming asked the Minister for Justice and Equality the position regarding the rules and conditions whereby persons from abroad can invest here and apply and be approved for an Irish passport for investment scheme; and if he will make a statement on the matter. [15607/14]

View answer

Written answers (Question to Justice)

I would emphasise to the Deputy that Ireland does not offer citizenship in return for investment. The Immigrant Investor Programme facilitates residency in Ireland for those foreign nationals who wish to invest here.

The Immigrant Investor Programme was approved by Government in early 2012 and has been accepting applications since April 2012. The Programme offers residency in Ireland to foreign national investors who commit to approved investment options. The Immigrant Investor Programme was reviewed and revised in July 2013 in order to further enhance the attractiveness of the programme to foreign investors and to build upon the positive initial phase of the Programme. Full details of the Immigrant Investor Programme are available from the Irish Naturalisation and Immigration Service web pages - www.inis.gov.ie.

The naturalisation process is outlined in the Irish Nationality and Citizenship Acts 1956 to 2014 and applies to all foreign nationals who wish to become Irish citizens. Persons whose applications are successful under the Immigrant Investor Programme can apply for Irish citizenship and any such application will be considered under the same rules which apply to any other foreign national.

For the Deputy's information, to date twenty one applications for the Immigrant Investor Programme have been approved and there are currently two applications under consideration.