Written answers

Tuesday, 27 September 2022

Department of Justice and Equality

Departmental Programmes

Photo of Noel GrealishNoel Grealish (Galway West, Independent)
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374. To ask the Tánaiste and Minister for Justice and Equality further to Parliamentary Question No. 619 of 11 May 2022, if she will provide the names and details of the sporting clubs that have been approved for immigrant investor programme investment; and if she will make a statement on the matter. [46674/22]

Photo of Helen McEnteeHelen McEntee (Meath East, Fine Gael)
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The endowment option of the Immigrant Invertor Programme (IIP) is available to sporting clubs to seek funding under the terms of the scheme and a number of sporting clubs have been approved for IIP funding to date.

My Department does not currently publish the details of individually approved IIP projects and the investments received, due to commercial sensitivities; however this issue is under review.

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.

The IIP offers four investment options for potential investors.

- Enterprise Investment: A minimum of €1 million invested in an Irish enterprise for a period of at least three years;

- Investment Fund: A minimum of €1 million invested in an approved investment fund for a period of at least three years. Such funds must be approved and regulated by the Central Bank;

- Real Estate Investment Trusts: A minimum investment of €2 million in any Irish REIT that is listed on the Irish Stock Exchange, for a period of at least three years; and

- Endowment: A minimum €500,000 (or €400,000 where five or more applications are received) philanthropic donation to a project which is of public benefit to the arts, sports, health, culture or education in Ireland.

The criteria applied when assessing applications under the IIP is set out in the guidance published on my Department's immigration website at: www.irishimmigration.ie/coming-to-live-in-ireland/i-want-to-invest-in-ireland/

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