Ireland’s Immigrant Investor Program (IIP) was introduced in 2012. The Minister for Justice, Equality, and Defence, Mr. Alan Shatter, recently announced important and exciting changes to the program.
The major change increases the number of investment options from one, the Irish Diaspora Loan Fund, to six. The changes are aimed at encouraging high net worth individuals from outside the European Economic Area (EEA) who want to benefit from the immigrant investor program to invest in Ireland (Eire). In return, the investors are entitled to permanent residency and then to apply for Irish citizenship. The value to Ireland is that the investors will create new jobs in the country or save existing ones.