Dáil Éireann Debate, Tuesday - 11 October 2016
19. Deputy Jim Daly asked the Tánaiste and Minister for Justice and Equality if a company can receive formal written pre-approval that it does qualify as an enterprise here, for the purposes of the immigrant investor programme; and if she will make a statement on the matter. [29236/16]
Amharc ar fhreagra20. Deputy Jim Daly asked the Tánaiste and Minister for Justice and Equality if there are any further benefits within the immigrant investor programme for investors of higher amounts of up to €5 million which exceed the current threshold of €500,000; and if she will make a statement on the matter. [29238/16]
Amharc ar fhreagraI propose to take Questions Nos. 19 and 20 together.
I am informed by the Irish Naturalisation and Immigration Service (INIS) of my Department that the applications for the Immigrant Investor Programme are evaluated by an Independent Evaluation Committee, with experts from Government Departments and relevant State Agencies. To issue a formal pre-approval without the application having been considered by this committee would undermine the independence of the Evaluation Committee.
On approval of an application, the Immigrant Investor Programme provides for the granting of an Immigration Permission on Stamp 4 conditions to the investor and their family members for an initial two-year period. This permission is renewable, subject to certain conditions being met, for a further three years and thereafter for five year periods.
The threshold of €500,000 is the minimum amount that an investor can make when submitting an application for the Immigrant Investor Programme and any investment in excess of this minimum threshold, while welcome, does not confer any additional immigration benefits.
