The scheme has contributed to the completion of numerous valuable projects in Ireland since its creation, including nursing homes, social housing, hotels etc. Non-EEA Investors have contributed much needed capital in these areas since the IIP was established.
An independent review of the IIP is due to commence in early 2019. The review is a welcome development to ensure the integrity of the programme. It will seek to strengthen the procedures around countering the risks which a programme of this nature can bring. In particular, it is envisaged that the INIS will be imposing stricter requirements in relation to matters including anti-money laundering, identity and character checks.
Whist the review is ongoing, applications for the IIP can be submitted during the following windows in 2019 (though the windows may be subject to change):
1. 4th March 2019 –8th March 2019
2. 20th May 2019 – 24th May 2019
3. 19th August 2019 – 23rd August 2019
4. 21st October 2019 – 25th October 2019
The INIS will publish new guidelines on or before 8th February 2019. All applications to the scheme must comply with these.
At the time of writing, the IIP requires applicants to have a net worth of at least €2 million and to commit to an investment in the State which meets the conditions of the scheme. The source of the applicant’s funds must be clearly shown to derive from their own resources, and crucially, must not be obtained through a loan or other such facility to the applicant.
If you wish to enquire about entering the IIP during the first or any subsequent window in 2019, please feel free to contact our office.
Aileen Gittens, Solicitor, can assist you in all areas of Irish Immigration – e.g. applications for visas, regularising status in the State, naturalisation applications, employment permits applications, long term residency, immigrant investor programme etc.
If you have a query, contact her at: