February 2024: Ireland’s Immigrant Investor Programme officially scrapped
Kenley Henderson
In February 2024, the Republic of Ireland scrapped an Immigrant Investor Programme (IIP). So-called "golden visas" were offered to wealthy individuals from outside the European Economic Community (EEC) in return for investment.
The Ireland Golden Visa was established in 2012 during a period of economic difficulty to help stimulate investment in Ireland.
How it worked. Applicants to the Irish programme were required to have a personal wealth of at least €2 million and to invest a minimum of €1 million for at least three years.
Investment options included:
enterprise investment of €1 million invested in an Irish enterprise;
investment fund of €1 million invested in an approved investment fund;
real estate investment trusts of €2 million in any Irish REIT that is listed on the Irish Stock Exchange;
donation of €500,000 or €400,000, where 5 or more investors combined their investment, to a project that is of public benefit to the arts, sports, health, culture, or education in Ireland.
Dependents could include a spouse and children under 18. Unmarried children older than 18 who were wholly dependent on the primary applicant, up to the age of 24, could also be included.
A large number of submissions to the programme came from China.
An alternative way to obtain an Irish residence permit. The Irish government also operates and continues the Start-up Entrepreneur Programme (STEP), which was designed for entrepreneurs with innovative ideas to apply for a residence permit in Ireland.
Find out which countries offer the most popular Golden Visas, what the investment options are, the procedures, timeframes, and benefits.
