Dáil Éireann Debate, Tuesday - 30 November 2021
488. Deputy Michael Creed asked the Minister for Justice when her consideration of greater transparency in the Immigrant Investment Programme will conclude; and if she will make a statement on the matter. [58927/21]
Amharc ar fhreagraAs the Deputy will be aware, the Immigrant Investor Programme (IIP) was introduced in April 2012 to encourage inward investment and create business and employment opportunities in the State. The Programme provides investors with the opportunity to invest in Ireland. Key to the Programme is that the investments are beneficial for Ireland, generate or sustain employment and are generally in the public interest.
The IIP has been subject to a number of reviews, both internal and external, in recent years. A report in relation to the second phase of an external review carried out is currently being considered by my officials and will be submitted to me thereafter. This report will be published in due course. Any actions and recommendations arising from the report which are beneficial to the Programme will be assessed and evaluated and consideration will be given to their introduction.
More generally, projects seeking funding under the IIP are assessed by an independent Evaluation Committee, comprised of senior civil and public servants from relevant Government Departments and State Agencies involved in enterprise development in Ireland. The Evaluation Committee convenes at least four times a year to assess projects submitted for consideration under the Programme.
The independent Evaluation Committee makes a determination as to whether a project is suitable for IIP investment and if deemed suitable, the application will be submitted to me for final approval.
Detailed information in relation to the IIP and guidelines for applicants is available on my Department's Irish Immigration website at: www.irishimmigration.ie.
