Brendan Griffin (Kerry, Fine Gael)
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457. To ask the Tánaiste and Minister for Justice and Equality the details of schemes that provide citizenship in return for significant investment in the State; if the schemes apply to community investment; and if she will make a statement on the matter. [23298/21]

James Browne (Wexford, Fianna Fail)
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At the outset, I want to be absolutely clear that the State does not operate any citizenship by investment scheme.

However, I understand that the Deputy is referring to the Immigrant Investor Programme (IIP). An investment under the IIP does not confer any preferential entitlement to citizenship or an Irish passport.

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. Any successful IIP applicant wishing to attain citizenship by naturalisation would have to submit an application that meets the criteria as provided for in the Irish Nationality and Citizenship Act 1956 as amended.

The IIP was introduced in April 2012 to encourage inward investment so as to create business and employment opportunities in the State. There are currently four options for investing, one of which is the endowment of €500,000 (or €400,000 where a group of 5 or more combine to make a large endowment) towards a project of public benefit in the arts, sports, health, cultural or educational field. A number of such community projects have been approved for IIP investment under the scheme to date.

Projects seeking funding under the IIP are assessed by an Independent Evaluation Committee, comprised of senior civil and public servants from relevant Government Departments and State Agencies involved in enterprise development in Ireland. The Evaluation Committee convenes at least four times a year to assess projects submitted for consideration under the Programme.

The Evaluation Committee makes a determination as to whether a project is suitable for IIP investment and if deemed suitable, the application will be submitted to me for final approval.

Any endowment proposed should be regarded as a philanthropic contribution with a clear public benefit and investors will receive no financial return or recoupment of the principal sum invested. Any successful endowment project must provide a benefit to the public that is enduring and not one that is no longer sustainable once the endowment funding ceases. In addition, the IIP is focused on supporting projects that are investment ready. A criteria for establishing same is that planning permission, where required, has been granted.