Latest News: On February 20, local time, the Irish Department of Justice released the new 2019 guidelines for the Immigrant Investor Programme (IIP). Compared to 2018, there are 6 significant changes to the immigration policy.
1. Strengthened Comprehensive Review of Source of Funds
In this update, the Irish Naturalisation and Immigration Service (INIS) has reiterated in the policy document:
Under no circumstances will any form of financing or loans provided by the investor during the application process be considered a compliant source of funds. As part of the application process, the Irish Naturalisation and Immigration Service will conduct a comprehensive review of the source of funds and require the submission of sufficient and valid supporting documentation, as well as an independent review of said documents by a qualified legal advisor within the relevant jurisdiction. If the immigration authorities discover that an applicant's submission involves financed assets, the application will be rejected.
This is the first time the Irish Naturalisation and Immigration Service has explicitly stated in the policy that applicants relying on financing for the IIP will be rejected. This demonstrates the immigration authorities' firm stance against financing.
2. The €1,500 Application Fee Must Be Transferred Electronically to the Department of Justice's Designated Account
In the new guidelines, the application fee remains unchanged at €1,500. However, it is now stipulated that the fee must be paid exclusively via bank transfer to the account of the Irish Department of Justice and Equality; payment via bank draft is no longer accepted. It is also stated that the application fee will not be refunded under any circumstances, including cases where the applicant's documentation is incomplete or the application is rejected.
3. All Submitted Documents Must Undergo Double Authentication by the Ministry of Foreign Affairs and the Embassy
The new guidelines not only introduce the requirement for