On the 15th of February 2023, Minister Simon Harris has announced the suspension of the Immigrant Investor Programme.
“I have recommended that it is now timely to close this programme to new applications, and have received government agreement to close it for further applications from close of business tomorrow, 15 February 2023,” stated Harris .
The Immigrant Investor Programme was established over a decade ago in 2012. The Immigrant Investor Programme enabled candidates a pathway to Irish residency with an investment or donation to state approved bodies or projects. The purpose of the program was to provide investment in Ireland during “unprecedented economic difficulty to stimulate investment in Ireland that would be of strategic and public benefit to the State.”
The press release further noted since its inception that the program generated more than €1.252 billion that has widely benefited the State .
The decision to close the program comes afoot of criticism of the program from International bodies such as the European Commission, Council of Europe and OECD.
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