Key Points
- Ireland will close the Immigrant Investor Programme (IIP) on 14 February 2024
Overview
The government of Ireland will close the Immigrant Investor Programme (IIP) on 14 February 2024. The proposed arrangements cover several different categories of applications, as set out below:
- Approved projects
- Approved projects which have requested additional funding based on increased construction costs
- Approved projects which have requested additional funding and have introduced additional elements to the project outside of their approved Business Plan
- Approved projects which have stalled.
- IIP Approved Investment Funds
- Project Applications on hand pre-closure of the programme
- Post-Closure project applications
Applicants who have already received approval under the IIP will not be impacted. However, these projects will continue to be monitored for delivery and compliance with IIP requirements, and approved applicants will still need to meet certain requirements for renewal of their immigration permission.
According to the announcement, certain categories of the IIP route will receive prioritized processing in the coming weeks to ensure final application decisions are made quickly. Prioritized applications include the following categories: 1(b), 3, 4(a), 4(b) and 4(c). Given the volume of applications, the government expects the processing of certain categories to take several years.
Looking Ahead
Continue to check the government of Ireland’s website and Envoy’s website for the latest updates and information.
Content in this publication is for informational purposes only and not intended as legal advice, nor should it be relied on as such. For additional information on the issues discussed, consult an attorney at Corporate Immigration Partners, P.C., or another qualified professional of your choosing. On non-U.S. immigration issues, consult your Envoy representative, or another qualified representative of your choosing.
