New IIP guidelines

The long awaited new guidelines on the Immigrant Investor Programme have just been released by the Irish Naturalisation and Immigration Service.

There are a number of significant changes.

There is a requirement that all documents submitted must be apostilled in the applicant’s country of residence. Furthermore, each applicant must include a report from an independent risk assessment agency. An applicant will no longer be able to rely on his or her spouse’s wealth to make up the €2m net worth threshold, unless the assets are jointly held.

The other changes are mainly procedural. There will now be a pre-approval letter, on receipt of which, an applicant has 90 days to complete the donation or investment. When that is complete, a final approval letter will issue which will permit an applicant to take up residency in Ireland within two years.

The March application window is now extended. Applications are invited from 4th to 15th (COB) March inclusive.