Dáil Éireann Debate, Tuesday - 30 January 2018
317. Deputy Peter Burke asked the Minister for Justice and Equality the criteria for applying to the immigrant investor programme; the amount of annual funding allocated to the programme; the status of the fund; and if he will make a statement on the matter. [4461/18]
View answerI have been advised by the Irish Naturalisation and Immigration Service (INIS) of my Department that the Immigrant Investor Programme (IIP) commenced in April 2012 to attract inward investment and as a result create business and employment opportunities in the State. The IIP is not a fund, nor is any funding allocated to the Programme.
The IIP is open to non-EEA nationals who wish to commit to an approved minimum investment of €1 million in Ireland for at least three years. Applicants must demonstrate that they have a legally required minimum net worth of €2 million and are of good character. Applications under the IIP may be to invest in projects such as social housing, nursing homes, primary care centres, hotels and other manufacturing and processing enterprises. All applications are examined by an independent evaluation committee which makes its recommendations to the Minister.
By of the end of 2017, applications for investments to the value of €570.7 million had been processed through the IIP.
