What is the Immigrant Investor Programme (IIP) in Ireland?

The Immigrant Investor Programme (IIP) was an Irish immigration scheme that allowed non-EEA nationals to obtain residency permission in Ireland in exchange for a significant financial investment in the Irish economy. The programme offered several investment options including enterprise investment (minimum EUR 1 million), investment fund (minimum EUR 1 million), Real Estate Investment Trust (minimum EUR 2 million), and endowment (minimum EUR 500,000 donation to a public project).

Successful applicants were granted residency permission for an initial period of two years, which was then renewed for a further three years, and subsequently for five-year periods. Investors were not required to reside permanently in Ireland but must have visited at least once per calendar year. The permission granted was Stamp 4, allowing the holder to work in Ireland.

It is important to note that the IIP was closed to new applications in February 2023 following a review by the Department of Justice. Applications that were already in the system continued to be processed, but no new applications are being accepted. The closure was in line with a broader international trend of countries reviewing and closing golden visa programmes due to concerns about security, money laundering, and integrity.

Persons interested in investor-based immigration to Ireland should monitor the Department of Justice website for any future replacement schemes or alternative pathways.

This is general information only, not legal advice. Consult a registered immigration solicitor for advice specific to your situation.