Dáil Éireann Debate, Wednesday - 16 November 2022
162. Deputy Chris Andrews asked the Minister for Justice the amount of funding that has been invested into sporting organisations as a result of the Immigrant Investor Programme for each year since 2016; and if she will make a statement on the matter. [56820/22]
Amharc ar fhreagraThe 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 offers four investment options for potential investors.
- Enterprise Investment : A minimum of €1 million invested in an Irish enterprise for a period of at least three years;
- Investment Fund : A minimum of €1 million invested in an approved investment fund for a period of at least three years. Such funds must be approved and regulated by the Central Bank;
- Real Estate Investment Trusts : A minimum investment of €2 million in any Irish REIT that is listed on the Irish Stock Exchange, for a period of at least three years; and
- Endowment : A minimum €500,000 (or €400,000 where five or more applications are received) philanthropic donation to a project which is of public benefit to the arts, sports, health, culture or education in Ireland.
The criteria applied when assessing applications under the IIP is set out in the guidance published on my Department's immigration website at: www.irishimmigration.ie/coming-to-live-in-ireland/i-want-to-invest-in-ireland/
My Department does not currently publish the details of individual approved IIP investments, due to commercial sensitivities. However sporting organisations are one of the beneficiaries of Endowment applications received and I am advised that there have been 470 Endowment applications approved for the period 01/2016 to 09/2022 with a total value of investment of €189.1m.
