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Question

99. Deputy Thomas P. Broughan asked the Minister for Justice and Equality if he will report on the immigrant investment programme and recent changes in the scheme; and if he will make a statement on the matter. [47373/17]

Answer

Minister for Justice and Equality (Deputy Charles Flanagan): I am advised by the Irish Naturalisation and Immigration Service of my Department that the most recent changes to the Immigrant Investor Programme occurred  in December 2016.  At that time the Tánaiste and then Minister for Justice and Equality announced the intention to restore the minimum investment for an enterprise under the Immigrant Investor Scheme, from €0.5 million to €1.0 million with effect from 1 January 2017.  At the time, developments and trends surrounding the Immigrant Investor Programme indicated to the Expert Committee that the restoration of the Investment threshold to its original level of €1 million was warranted.
I am advised that the increase in the investment threshold has in no way impacted negatively on the number of applications received.  Indeed, the quality of application received has improved and the current threshold also provides for a greater commitment from investors.