Investors’ Residency Scheme Brought €210m into Country

Almost €210 million has been invested in Ireland in the first five years of a government scheme which grants residency to foreign investors.

New figures show €209.6 million of investments were approved under the Immigrant Investor Programme up to the end of March last year. A further €131.3 million in investment projects were rejected over the same period.

The IIP, established in 2012, allows non-EEA nationals to secure residency in return for an approved investment.

Residency is initially granted for a five-year period which can be reapplied for in subsequent five-year tranches.

Over 90 per cent of applicants come from China. The other main countries of origin for applicants are the US, the UAE, Russia and Bahrain.