Dáil Éireann Debate, Tuesday - 28 February 2023
488. Deputy Catherine Murphy asked the Minister for Justice if he will provide a schedule of engagements he and or his predecessor have had with the Central Bank and the Revenue Commissioners in respect of closing the IIP scheme; if he gave both organisations advance notice of the cessation of the IIP scheme; and if he took advice from either organisation in respect of the cessation of the IIP scheme. [9750/23]
Amharc ar fhreagraAs the Deputy is aware, I obtained approval from the Government to close the Immigrant Investor Programme (IIP) to further applications from 15 February 2023.
Neither I, nor Minister McEntee, have had any engagements with the Central Bank or the Revenue Commissioners in respect of the closure of the IIP. However, the Department of Finance is represented on the Evaluation Committee that assesses IIP applications and there is ongoing engagement at official level with the Revenue Commissioners in respect of the Common Reporting Standards approved by the OECD for information sharing on such programmes.
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. Current applications on hand at the time of closure will continue to be considered.
The IIP Unit has published a FAQ on my Department's 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/
