On December 20, 2016, the Irish Naturalisation and Immigration Service (INIS) announced a policy adjustment on its official website: the investment amounts for both the Enterprise Investment and Enterprise Investment Fund categories have been adjusted to one million euros (€1,000,000). Below, we provide a detailed interpretation of the new immigration policy statement released by the INIS.
The following adjustments to the Immigrant Investor Programme (IIP) will be implemented in 2017.
The listed adjustments will take effect immediately.
▪ Enterprise Investment – €1,000,000 invested in an Irish enterprise for a minimum of three years.
▪ Enterprise Investment Fund – €1,000,000 invested in an approved fund for a minimum of three years.
The application fee will be adjusted to €1,500. The application fee can only be paid via an Irish postal money order or a bank draft issued by an Irish financial institution.
Applications for the Immigrant Investor Programme and the Start-up Entrepreneur Programme may be submitted during the following periods:
▪ 2017.01.02 - 2017.01.27
▪ 2017.03.20 - 2017.04.13
▪ 2017.05.22 - 2017.06.16
▪ 2017.08.14 - 2017.09.08
▪ 2017.10.16 - 2017.11.10
Applications received outside of the above periods will be returned. Applications made with an incorrect application fee or investment amount will also be returned.
This is the third policy adjustment made by the INIS to the Immigrant Investor Programme (IIP) in 2016. A review of the development history of the Irish Immigrant Investor Programme (IIP) follows:
▪ On July 18, 2016, the Immigrant Investor Bonds and Real Estate Investment Trusts categories were temporarily suspended;
▪ On November 4, 2016, the submission date originally scheduled for December was postponed to January 2, 2017. During this period, existing investment applications were processed, and no new applications were accepted.
▪ On December 20, 2016, the investment amounts for the Enterprise Investment and Enterprise Investment Fund categories were adjusted to €1,000,000. At the same time, the application fee was adjusted to €1,500.