Oireachtas Joint and Select Committees

Wednesday, 11 July 2018

Joint Oireachtas Committee on Justice, Defence and Equality

Immigrant Investor Programme and International Protection Applications: Discussion

9:00 am

Mr. Michael Kirrane:

It is very difficult to determine precisely why China invests more than other countries but we have seen a similar pattern in a number of other countries anecdotally and from our discussions on the ground. The scheme was marketed heavily by our people and embassy in China. In addition, people are attracted to an English speaking country. This is linked with education because education for the children of investors is one of the big attractions. According to the most recent figures, there are 1.5 million high net worth individuals in China. We are talking about a tiny percentage of that figure.

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