Paul Kehoe (Wexford, Fine Gael)
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935. To ask the Tánaiste and Minister for Justice and Equality if the immigrant investor programme is being reviewed; if so, when an update is expected; and if she will make a statement on the matter. [21883/20]

Helen McEntee (Meath East, Fine Gael)
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The 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.

Successful applicants under the IIP and their nominated family members may be granted a residence permission in Ireland under Stamp 4 conditions. Stamp 4 conditions permit non-EEA nationals to work, study or start their own businesses in Ireland. Therefore, given the significant immigration benefits accruing and to ensure the highest degree of transparency and accountability for the programme, it is essential that all applications are subject to a robust due diligence process in respect of both personal and financial checks to protect the State's interests. Several enhanced control mechanisms have been introduced within the past 12 months.

Following a tender process, a contract to carry out a review was signed in June 2019 and work is underway. The Terms of Reference for the review have been published on the Immigration Service Delivery website on the "Investor & entrepreneur schemes" and may be found at:www.inis.gov.ie/en/INIS/Pages/New%20Programmes%20for%20Investors%20and%20Entrepreneurs.

The second phase of the review is ongoing, and is scheduled to be presented to my Department during quarter four of this year. In the meantime, applications continue to be assessed by a panel and, where assessed positively, are accepted and processed.

Paul Kehoe (Wexford, Fine Gael)
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936. To ask the Tánaiste and Minister for Justice and Equality if there is a mechanism by which organisations can make themselves visible to potential investors under the immigrant investor scheme; and if she will make a statement on the matter. [21884/20]

Helen McEntee (Meath East, Fine Gael)
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The Immigrant Investor Programme (IIP) was introduced by the Irish Government in 2012 to encourage inward investment for the creation of business and employment opportunities in the State. The IIP is designed to encourage investors and business professionals from outside the European Economic Area (EEA) to avail of opportunities of investing and locating their business interests in Ireland and acquire a secure residency status in Ireland.

In order for a person to make a successful application under the IIP, at the time of their application the investor must identify the investment opportunity that they wish to pursue. There are four investment options open to investors, which are Enterprise Investments, Investment Funds, Real Estate Investment Funds (REIT) and Endowments.

An applicant under the IIP cannot be approved unless the investment opportunity identified is in accordance with the objectives of the Programme. Consequently, there are no circumstances in which a person can be granted a permission under the IIP where they have yet to identify an investment opportunity and as such there is no register of pre-approved investors who are seeking investment opportunities.

I recognise the complexity of linking projects based here in Ireland with overseas investors. There is often a requirement for suitably experienced third parties to act as intermediaries in the process, through the facilitation of introductions between prospective investors and potentially suitable project sponsors. However, it would not be appropriate for me to actively facilitate this process as ultimately I will be required to make decisions on applications submitted. It is therefore essential that both I and my Department are not involved in the promotion of projects.