Written answers
Wednesday, 6 April 2022
Department of Justice and Equality
Departmental Programmes
Mairead Farrell (Galway West, Sinn Fein)
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183. To ask the Tánaiste and Minister for Justice and Equality further to Parliamentary Question No. 781 of 14 March 2022, if she will provide the information; and if she will make a statement on the matter. [18645/22]
Mairead Farrell (Galway West, Sinn Fein)
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184. To ask the Tánaiste and Minister for Justice and Equality further to Parliamentary Question No.782 of 22 March 2022, if she will provide the full list of companies approved under the Immigrant Investor Programme; and if she will make a statement on the matter. [18646/22]
Helen McEntee (Meath East, Fine Gael)
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The information requested by the Deputy in relation to applications by Russian nationals to the Immigrant Investor Programme (IIP) for the period 2016 to date is set out in the table below.
| Year | Applications Received | Applications Approved | Applications Refused | Withdrawn applications | REIT applications | Endowment applications | Amount invested |
|---|---|---|---|---|---|---|---|
| 2016 | 0 | 0 | 0 | 0 | 0 | 0 | €0.00 |
| 2017 | 1 | 0 | 1 | 0 | 1 | 0 | €0.00 |
| 2018 | 0 | 0 | 0 | 0 | 0 | 0 | €0.00 |
| 2020 | 1 | 0 | 0 | 1 | 0 | 1 | €0.00 |
| 2021 | 0 | 0 | 0 | 0 | 0 | 0 | €0.00 |
| 2022 | 0 | 0 | 0 | 0 | 0 | 0 | €0.00 |
I have recently instructed that no further applications from Russian citizens will be accepted into the Immigrant Investor Programme (IIP) and there are currently no Russian beneficiaries or applications to the scheme.
Over 1,400 applications have been successful under the IIP to date with the value of investments approved over €1bn. My Department does not currently publish the individual details of approved IIP investments.
The programme 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.
The IIP is not a visa scheme or a citizenship scheme. It offers successful applicants a Stamp 4 Immigration permission for themselves and their immediate family members for an initial two year period and is renewed thereafter subject to the scheme’s criteria being met.
Therefore, given the significant immigration benefits accruing and to ensure the highest degree of transparency and accountability for the programme, all applications are subject to enhanced levels of due diligence processes in respect of both personal and financial checks to protect the State's interests.
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