Dáil Éireann Debate, Wednesday - 9 February 2022
113. Deputy Brendan Smith asked the Minister for Justice the present status of the Immigration Investment Programme; if she will ensure that there will be no reduction in potential investment funding for public good projects including the disability, sports and arts sectors; and if she will make a statement on the matter. [6982/22]
View answerThe Immigrant Investor Programme (IIP) was introduced in April 2012 to encourage inward investment and create business and employment opportunities in the State. The IIP provides investors with the opportunity to invest in Ireland. Key to the IIP is that the investments are beneficial for Ireland, generate or sustain employment and are generally in the public interest. To date, more than 1,400 IIP applications have been approved for investment with a value of over €1 billion.
The IIP has been subject to a number of reviews, both internal and external, in recent years and the second phase of the external review is being considered by my officials. Any actions and recommendations beneficial to the IIP will be assessed and evaluated and consideration will be given to their introduction.
In the meantime, applications to the IIP continue to be accepted and examined by an independent Evaluation Committee and, where assessed positively, are submitted to me for approval.
