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Question

231. Deputy Alan Kelly asked the Minister for Justice the status of the review of the immigrant investor programme; and if she will make a statement on the matter. [10912/21]

232. Deputy Alan Kelly asked the Minister for Justice the number of applicants to the immigrant investor programme from 2012 to date; the number of those applicants who have been successful since 2012 to date in tabular form; and if she will make a statement on the matter. [10913/21]

233. Deputy Alan Kelly asked the Minister for Justice the number of applications that have been made for the immigrant investor programme via the enterprise, investment, REIT and endowment options up to the end of January 2021; the breakdown for each of those options in each period for 2020, in tabular form; the number of applications in 2018 and 2019; and if she will make a statement on the matter. [10914/21]

234. Deputy Alan Kelly asked the Minister for Justice the number of applications for the immigrant investor programme via the enterprise, investment, REIT and endowment options that have been approved up to the end of January 2021 for 2019 and 2020; and if she will make a statement on the matter. [10915/21]

Answer

Minister for Justice (Deputy Helen McEntee): I propose to take Questions Nos. 231 to 234, inclusive, together.
The Immigrant Investor Programme (IIP) was introduced in April 2012 to encourage inward investment and create business and employment opportunities in the State. The programme provides investors with the opportunity to invest in Ireland. Key to the programme is that the investments are beneficial for Ireland, generate or sustain employment and are generally in the public interest.
Successful applicants under the IIP and their nominated family members may be granted a residence permission in Ireland under Stamp 4 conditions. Stamp 4 conditions permit non-EEA nationals to work, study or start their own businesses in Ireland. Therefore, given the significant immigration benefits accruing it is essential that all applications are subject to a robust due diligence process in respect of both personal and financial checks to protect the State's interests. In this regard, a number of enhanced control mechanisms have been introduced to the Programme within the past 12 months.
The IIP has been subject to a number of reviews, both internal and external, in recent years. Following a tender process, a contract to carry out an external review was signed in June 2019. This review was to be carried out in two phases. The Terms of Reference for the review are published on the Immigration Service website at: http://www.inis.gov.ie/en/INIS/Pages/New%20Programmes%20for%20Investors%20and%20Entrepreneurs.
The second phase of the review has recently been completed and is being considered by my Department. In the meantime, applications under the IIP continue to be assessed by an independent evaluation committee and, where assessed positively, are accepted and processed.
The table below provides details of the applications received and the numbers of approvals issued since 2012.

Year Applications received Applications approved
2012 5 2
2013 18 16
2014 30 8
2015 75 71
2016 333 32
2017 324 373
2018 423 156
2019 442 237
2020 340 267
2021 to date 26 18
TOTAL 2016 1,197
*Note: Applications received includes applications received under the IIP Bond and Mixed Investment Bond Options, which were suspended in July 2016, by the Evaluation
Committee on the basis that they no longer provided value for money.
I have set out in the table below details of the applications that have been made for the immigrant investor programme via the enterprise investment, investment fund, REIT and endowment options up to the end of January 2021; the breakdown for each of those options in each period for 2020 2019 and 2018.
Investment Type Applications received to date Applications received in 2020 Applications received in 2019 Applications received in 2018
Enterprise Investment 1120 103 145 318
Investment Fund 286 61 74 30
REIT 8 1 4 1
Endowment 533 175 219 74
The following table provides details of the applications approved and issued from 2019 to date under the enterprise investment, investment fund, REIT and endowment options.
Investment Type Approved 2019 Approved 2020 Approved January 2021
Enterprise Investment 168 76 5
Investment Fund 19 45 6
REIT 1 3 0
Endowment 49 143 7
It is important to note that approvals issued in any year may relate to applications which were received in previous years due to the time taken to process applications and carry out the necessary due diligence checks on applications.