Dáil Éireann Debate, Tuesday - 23 May 2023
541. Deputy Cormac Devlin asked the Minister for Justice the number of applications that were received by his Department for the Immigrant Investor Programme (IIP) after the announcement that the scheme was closing; the deadline for processing of same; when a decision on these applications is due; and if he will make a statement on the matter. [24274/23]
View answerAs the Deputy is aware, I obtained approval from the Government to close the Immigrant Investor Programme (IIP) to further new applications from 15 February 2023.
I appreciate that closure of the Programme has given rise to many queries on the part of individuals and organisations with an interest in the Programme. My Department is committed to managing the closure of the Programme in a way that is fair to all, and wish to convey accurate information in a timely manner.
However, the volume of applications to the Programme has accelerated rapidly in recent years giving rise to significant pressures on the IIP Unit. The level of applications received prior to the Programme’s closure has compounded these pressures, as has the very large number of queries received since the closure announcement. Some 950 new investor applications have been received in 2023 alone.
All applications recently received are currently pending examination. Each application will be examined on its own merits and it is not possible at this time to give an indication as to when individual applications will receive a decision.
The Programme’s Independent Evaluation Committee has requested that an analysis of certain issues be undertaken to assist it in the task of ensuring that the closure of the Programme is carried out in a manner that is consistent and fair to applicants. The Committee has committed to more frequent and intense engagement to progress these matters, and the patience of stakeholders is requested over the coming months while this work is completed.
The closure of the Programme will not affect existing projects or individuals already approved under the programme. My Department will continue to monitor existing approved projects in relation to the delivery and for compliance with the terms of the Programme.
The Department has published a FAQ on its website, which will be updated with any further arising questions from the closure, and is available here: www.irishimmigration.ie/faqs-closure-of-the-immigrant-investor-programme-iip/ .
