The Immigrant Investor Programme (IIP) dubbed as Irish golden visa, was first introduced in April 2012 to encourage inward investment to create business and employment opportunities in the State.
The Golden visa scheme requires €1 million investment in irish bonds, certain properties and businesses and contribute to economic development of Ireland.
According to the latest statistics report from department of justice
- Irish golden visa scheme received a total investment of €502 million euros (half a billion)
- 97% of applicants are chinese
- A total of 699 applications approved since 2014
- Only 38 applications approved in 2018 with total 420 applications received for 2018 and 379 are pending processing
| Application Year | Number of Approved Applications | Total Value of Approved Applications |
| 2014 | 30 | €14,950,000 |
| 2015 | 65 | €35,250,000 |
| 2016 | 272 | €154,100,000 |
| 2017 | 294 | €269,500,000 |
| 2018 | 38
Total 420 applications received for 2018 and 379 are pending processing |
€32,000,000 |
| TOTAL | 699 | €502,800,000 |
Chinese applicants
Chinese account for 97% of Irish immigrant investor applications funding nursing homes to hotels reported Irish times.
According to Hurun report, Ireland is the third popular immigrant destination for wealthy chinese after United States and United Kingdom in 2018. Ireland and Greece emerging immigration destinations. Ireland is particularly attractive for chinese HNWIs because its high-quality education system and low corporate tax rate of 12.5%
IIP amendments and tightening the scheme
In 2018, The Irish Naturalisation & Immigration Service (INIS) tightened the scheme refusing applications investments funded by debt or loans and also compliance with the source of funding requirements of the IIP..
An Independent Review of the IIP is due to commence in the first quarter of 2019 and new revised guidelines will be issued on or before 8 February, 2019
The Department of Justice and Equality is enhancing the due diligence processes including AML, KYC, PEPs and sanction checks on applicants, sponsors.
INIS announced in its website “we are engaging in data sharing in accordance with the OECD common reporting standards”
To facilitate the work of the Evaluation Committee, applications for the Immigrant Investor Programme will be accepted during these periods only .
- 4th March 2019 –8th March 2019
- 20th May 2019 – 24th May 2019
- 19th August 2019 – 23rd August 2019
- 21st October 2019 – 25th October 2019
