On February 14, local time, Irish Minister of Justice Simon Harris announced:
The Irish Immigrant Investor Program (IIP) will be closed on February 15th!
Focus on:
After February 15, 2023 (end of working hours), no new immigration applications will be accepted;
Approved projects and investors will not be affected;
Applicants who have already submitted will not be affected;
For some projects, a three-month buffer period is set;
01
Why the sudden shutdown of the policy?
Irish Attorney General Simon Harris said:
"The Immigrant Investor Scheme was established more than a decade ago in times of economic hardship to stimulate investment in Ireland that is strategic and in the public interest.
Since its inception the program has brought significant investment to Ireland and is run by our department to the highest professional standards.
Taking all factors into consideration, and based on internal and external reviews, the Department of Justice believes that it is time to stop accepting new immigrant investor applications.
At present, the Irish government has agreed to close investment immigration, that is, stop accepting further applications after the end of working hours on February 15, 2023. "
02
Specific policies:
Various types of investors:
Category I: Visa Holders
Not affected. The immigration permit remains valid and is subject to normal renewal.
Category II: Applications submitted but not approved
Not affected. The Irish Immigration Service will continue to process and currently has approximately 1,500 cases pending.
Category III: Received the pre-approval letter but did not invest
Investors need to complete the investment within 90 days.
Investment projects:
Category I: Programs that have submitted applications but are not fully recruited
Not affected. Can continue to recruit new investors.
Category II: New projects for which applications have not yet been submitted
Some projects have not formally submitted applications, but have made significant progress after contacting the IIP department of the Ministry of Justice. Such projects will have a buffer period of 3 months and can continue to recruit new investors.
Category III: Funds
Some funds have not reached their minimum target size or have not been fully subscribed, and a buffer period of 3 months will be given.
Ireland’s investment immigration program has been shut down, Portugal’s golden visa program has been overturned, and the price of Greece’s golden visa program is about to increase...
The applicants for these projects are mainly Chinese. With the gradual tightening of European immigration policies, price increases and closures, there are fewer and fewer projects suitable for Chinese people.
If you prefer European immigration, please plan as soon as possible or contact Xingyunhai International, we will provide you with one-stop immigration services.
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