IMPACT — MEDIUM
The Irish government has closed the Immigrant Investor Program to new applications.
Additional Information: The IIP was introduced by the Irish government in 2012 to encourage inward investment for the creation of business and employment opportunities in the country. The program was designed to encourage investors and business professionals from outside the European Economic Area to invest in the Irish economy and obtain residency status in the country.
BAL Analysis: The Irish government has yet to provide information on why it closed the IIP; however, it cited reports and findings from the EU Commission on similar investment programs. Foreign nationals are reminded that they can still apply for the Start-up Entrepreneur Program as a means to obtain residency status in Ireland.
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