Dáil Éireann Debate, Tuesday - 10 October 2017
200. Deputy Jack Chambers asked the Minister for Justice and Equality the due diligence that is carried out on companies submitting projects to the immigrant investor programme; if an assessment was made of a company (details supplied) that has submitted projects; if tax clearance and other checks are carried out on companies; and if he will make a statement on the matter. [42504/17]
Amharc ar fhreagraI am advised by the Irish Naturalisation and Immigration Service of my Department that the purpose of the immigrant investor programme is to incentivise investment in Ireland by high-net-worth non-EEA nationals. As part of the investment, the non-national receives a specific immigration permission. There is no contractual relationship between my Department and individual developers or agents, such as the company referred to by the Deputy. In that context, a requirement to demand a tax clearance certificate or other form of certificate from such companies does not arise. It is the investor who is entering into a relationship with the company in question and he or she would be prudent to do due diligence before committing a sum of €1 million to a project.
All projects being proposed for consideration as applicable projects are, however, required to submit a detailed business plan with all relevant supporting documentation and where the agent is a developer or project proposer then all statutory requirements and regulations must be supported with appropriate documents.
