Notice to Applicants: Immigrant Investor Programme (IIP)

 

The Immigrant Investor Programme (IIP) is open to non-EEA nationals who commit to an approved investment in Ireland. The Immigrant Investor Programme requires a minimum investment of €1m, from the applicants own resources and not financed through a loan or other such facility, which must be committed for a minimum of three years.

Investors should note that the Irish Government has no responsibility for the performance of an investment. Investments are a private matter between the parties concerned and it is the responsibility of the investor, as in any business decision, to assess the potential success of their venture.  Approval of an application under the Immigrant Investor programme is not an endorsement of a particular project. What it means is that the investor has been approved and the investment is of a nature that meets the objectives of the Immigrant Investor Programme.

Recently this office has had enquiries in relation to Visas and the Transfer of Investors between approved projects. Clarifications to these queries are set out below.


Visas

Any person who is Visa required and wishing to register their Immigration Permission under the IIP must make an application for a Single Entry D reside Visa only. As and from the 14 August 2017 no other Visa type will be accepted when registering an IIP Immigration Permission i.e. A BIVS or C Visit Visa.

If applying for a re-entry visa the applicant must complete an application form and provide a valid passport, valid GNIB card, 2 Irish Passport Size photographs and the appropriate visa fee i.e. €60 (Single) or €100 (Multi). In the case of an application for a visa in respect of a minor child, under 16 years, the original birth certificate with translation by a certified translation company should also be provided.


Investor Transfers

In response to the issue of transferring between projects, the Evaluation Committee wishes to state that the Immigrant Investor Programme guidelines do not provide for the transfer of investors between projects. However due to the commercial sensitivities around the closing of some projects it was decided that where projects were frustrated, or did not proceed for commercial reasons, through no fault of the investor, then a single opportunity to transfer to another approved project will be permitted. The written approval of the Evaluation Committee will be required before any transfer completes.

In exercising this option, the investor must not frustrate the completion of the project for which their current IIP approval was granted and a letter from the proposer/developer of the approved project must be provided confirming this. The investor may only transfer to an approved project at a similar investment threshold, i.e. €1.0m project to a €1.0m project. An investor may not transfer to a project that was not approved at the time of their original application. If a project does not commence through no fault of the investor then a single opportunity to transfer to a new project will be afforded subject to the new Project being considered and approved by the Evaluation Committee.

It should be noted that an investor may withdraw from an approved project and not register the immigration permission granted. It is also open to an investor to withdraw and submit a new application for a different Investment option; however where it is established that they frustrated a previous project or caused that project to fail then no immigration permission will be granted and no further applications will be accepted from them to the IIP programme.

Finally, please be advised that as and from the 01/01/2018 no application for transfer will be accepted and any investor wishing to transfer between projects will be required to submit a new application with the appropriate fees etc.


Immigrant Investor Programme (IIP) Submission of applications

To facilitate the work of the Evaluation Committee, applications for the Immigrant Investor and Start Up Entrepreneur Programmes will be accepted during the following periods only:

 

  1. From 02 January 2017 - 27 January 2017
  2. From 20 March 2017 - 13 April 2017
  3. From 22 May 2017 - 16 June 2017
  4. From 14 August 2017 - 08 September 2017
  5. From 16 October 2017 – 10 November 2017

 

Applications, including a copy of the original application form, must be submitted by email to investmentandstartup@justice.ieto arrive no later than 5.00pm on the advertised closing date.

The Subject Bar should clearly identify the Name of the Applicant, Project Name and IIP Programme.

The Original Signed Application Form, 2 x Colour photographs for the applicant and their nominated family members and the Application fee of €1,500 must be forwarded by Post to:

 

Investment and Start Up Entrepreneur Programmes
Irish Naturalisation and Immigration Service
13- 14 Burgh Quay
Dublin 2
D02 XK70.

 

All applications, both original posted documents and email documents must be received by 5.00 pm on the advertised closing date.

Please note: Applications, not received on time and that do not include all of the relevant documents, the correct application fee or where the investment amount is not met cannot be considered and will be returned without being processed.

Detailed information on the application process and application forms are provided in the links below. The application process as set out is fairly straightforward and therefore the assistance of agents is optional.

Finally, please note that lobbying/canvassing will disqualify applicants and the associated project.

 

Related Links / Forms :

Sample Business Plan Template

Application Form for Start-up Entrepreneur Programme

Application Form for Immigrant Investor Programme

Guidelines for Start-up Entrepreneur Programme

Guidelines for Immigrant Investor Programme

Immigrant Investor Programme - Guidelines for Funds

 

Published 22 August 2017

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