Notice (1) Revised window 5 application dates

Published: 1 October 2019 

Window 5 2019 which was scheduled to open for applications between 21 October 2019 and 25 October 2019 has been rescheduled and will now open for applications between 4 November 2019 and 8 November 2019. For the avoidance of any misunderstanding, the revised dates apply to all applicants.
 

Notice (2) Additional guidance regarding payments by registered charities 

Published: 1 October 2019

Further to the notification issued by the IIP Unit of Immigration Services of the Department on 12 August 2019 in respect of the permissibility of Charities making payments to third parties for the purposes of securing prospective endowment investment under the IIP, the following update should be noted:  

“It has come to attention of the IIP unit of Immigration Services of the Department that on occasions registered charities are being requested to make payments to third parties to secure endowment applications be it in the form of finders fees, consultancy or other such payments. In some cases this may be by way of a deduction from the endowment itself. For the avoidance of doubt such deductions are not in compliance with the scheme. The fundamental principal of the scheme is that the full amount of the endowment is to be used for the purposes for which it is donated by the successful applicant. Any payments made by a charity to an agent must comply with the provisions of the Guidelines published by the Charity Regulator and/or in accordance with the provisions of the Charities Act 2009, as amended. Immigration Services has had discussions with the Charities Regulator regarding these matters and will monitor the situation in conjunction with the Charities Regulator. Agents / charities are reminded that non-compliance with the rules puts at risk the immigration permissions granted under the scheme. Should you have queries regarding this notice, please contact the IIP unit.”
 

 

Immigrant Investor Programme (IIP)

The Immigrant Investor Programme (IIP) is open to non-EEA nationals who commit to an approved investment in Ireland. The Immigrant Investor Programme requires a minimum investment of €1m, from the applicants own resources and not financed through a loan or other such facility, which must be committed for a minimum of three years.

Investors should note that the Irish Government has no responsibility for the performance of an investment. Investments are a private matter between the parties concerned and it is the responsibility of the investor, as in any business decision, to assess the potential success of their venture. Approval of an application under the Immigrant Investor programme is not an endorsement of a particular project. What it means is that the investor has been approved and the investment is of a nature that meets the objectives of the Immigrant Investor Programme.

 

Submission of Applications - Immigrant Investor Programme (IIP) and Start Up Entrepreneur Programmes (STEP).

An Independent Review of the IIP is due to commence in 2019. The listing of application windows in no way prejudges the outcome of that review and windows may be varied in accordance with the findings of the Independent Review.

The Immigrant Investor Programme will open for applications in 2019 as follows:

  • Window 1: 4th March 2019 –15th March 2019
  • Window 2: 8th April 2019 – 12th April 2019
  • Window 3: 20th May 2019 – 24th May 2019
  • Window 4: 19th August 2019 – 23rd August 2019
  • Window 5: 4th November 2019 – 8th November 2019

To facilitate the work of the Evaluation Committee, applications for the Immigrant Investor Programme will be accepted during these periods only. In accordance with practice, revised IIP guidelines will issue in early 2019 and all applications for 2019 must adhere to these guidelines. In addition, during 2019 a second review of the guidelines will be undertaken as part of the post Independent Review process.

In the interim, applicants and sponsors should be aware that the Department of Justice and Equality is enhancing the due diligence processes including:

  • Anti-Money Laundering (AML)
  • Know Your Client (KYC)
  • Politically Exposed Persons (PEPs)
  • Sanction checks.

Additionally, we are engaging in data sharing in accordance with the OECD common reporting standards (http://www.oecd.org/tax/automatic-exchange/common-reporting-standard/).

 

Note for Information of Prospective Applicants for the Immigrant Investor Programme (IIP)

The Irish Naturalisation & Immigration Service (INIS) wish to state that under no circumstances will a loan provided to the applicant for the purpose of making an IIP application be considered an appropriate source of funding. As part of the IIP application Process, INIS will undertake a comprehensive examination of the sources of proposed funding and will require significant supporting documentation attesting to the source of the funds and appropriate independent verification of said documentation from suitably qualified legal advisors in the relevant jurisdictions. If an applicant seeks to rely on loaned funds for the purposes of an IIP application, the application will be refused.

 

Contact

If you have questions that are not answered sufficiently on this web page regarding either the Immigrant Investor Programme or the Start Up Entrepreneur Programme, please feel free to contact us.

 

Related Links / Forms :

Immigrant Investor Programme - Guidelines for Applicants

Immigrant Investor Programme - Guidelines for Funds

Immigrant Investor Programme - Terms of Reference for External Review

Immigrant Investor Programme - Business Plan - Executive Summary

Immigrant Investor Programme - Business Plan - Sample Template

Immigrant Investor Programme - Application Form

Start-up Entrepreneur Programme - General Guidelines

 

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Updated: 04 October 2019