【Epoch Times, April 22, 2025】Ireland’s investment immigration program, favored by Chinese billionaires, has been suspended for two years, but recent data reveals that the Ministry of Justice has approved nearly 800 applications and received 500 million euros after the program was shut down. This immediately caught the attention of the media and lawmakers.
In 2023, the then Minister of Justice, Simon Harris, announced the closure of the investment immigration program. The Ministry of Justice stated that the program’s last day was February 15. However, the latest data revealed by the Irish National Television (RTE) shows that by the end of last year, a total of 2,482 investment immigration applications were approved, with 794 applications approved in 2023 and 2024. This means that over 30% of the applications were approved after the official closure of the program.
This has also raised questions from lawmakers. Former member of the European Parliament, Sophie in’t Veld, criticized the authorities for not effectively shutting down the program and called for clarification of the legal basis behind it.
The data also indicates that out of the 100 applications still pending evaluation and processing by the Ministry of Justice, 83 were submitted after the program was halted.
The Ministry of Justice confirmed this data in a statement to the Irish National Television.
The Ministry of Justice also stated in the announcement that after announcing the closure of the program, more than 140 new project applications were received within the “allowed brief period,” and a “significant number” of applications were rejected due to not receiving valid investment applications relating to the projects before the deadline.
Upon reviewing the notice issued by the Ministry of Justice, it was discovered that at the time of the program closure, the Ministry had stated that although some projects had not formally submitted applications, they had been in contact with the department’s investment immigration office and had made “significant progress,” hence suggesting a three-month period for such projects to be completed and submitted.
In’t Veld urged the authorities to provide an explanation for this.
She believed that “applications that were not on the table at the end of the program should not be processed.” She stated that these applications raise questions concerning the “legal basis” for the applications and the granting of visas or immigration permits.
The Immigrant Investor Programme allows overseas high-net-worth individuals to obtain Irish residency quickly, with their families having the opportunity to live, study, and work in the country; they can also apply for Irish citizenship after residing for five years, thereby gaining EU citizenship.
In exchange, applicants are required to invest at least 1 million euros in the country or donate 500,000 euros to charity. The authorities also aim to swiftly emerge from the shadow of the European sovereign debt crisis with external cash assistance.
Since the program’s launch in 2012 until the end of 2024, it has brought in a total of 1.7 billion euros of investment to the country, including over 500 million euros that flowed in after the program was suspended.
With more pending applications, it implies that more money will flow into Ireland. This has also heightened concerns from the public.
From the concentration of applications from a single source to driving up housing prices, the program known as the “golden visa” has been controversial in recent years. EU officials have warned that such programs may attract corrupt officials and criminal groups, posing security risks to the entire EU. Lawmakers have repeatedly called on member state governments to strengthen background checks on applicants, with in’t Veld previously proposing legislation to abolish programs that exchange investments for EU passports and enhance supervision of the “golden visa” program.
The Ministry of Justice explained the closure of the investment immigration program on its official website, citing that the European Commission, European Council, and OECD have expressed “serious concerns” about investment immigration programs in recent years, acknowledging that such programs raise broader public policy issues. Studies have found various issues with the program, including border security, money laundering, tax evasion, and circumvention of EU laws. The Ministry ultimately stated that “closing the program was timely.”
In recent years, the media and lawmakers have been trying to determine where the invested money went and how many people obtained residency through investments. As each application may involve more than one applicant, local media and lawmakers have repeatedly sought answers from the authorities, but the Ministry of Justice claimed to lack relevant data.
Similar to other European countries, investment immigration particularly attracts Chinese citizens. Out of nearly 2,500 approved applications, over 90% come from Chinese applicants, totaling 2,332 applications; in comparison, the second-ranked country, the United States, had 53 applications. While the authorities also received applications from investors in countries like Vietnam, Taiwan, South Africa, and the Pacific island nation of Vanuatu, the numbers were relatively small.
Responding to a statement by the Irish National Television, the Ministry of Justice stated that it does not collect data on the number of residence permits granted based on investment immigration applications.
The Ministry of Justice is processing nearly 100 applications involving 1,700 investors, including those submitted after the program was closed. Some lawmakers believe that no applications should be accepted after the deadline.
Donnchadh Ó Laoghaire, the Sinn Féin spokesperson for foreign affairs, criticized the program for being prone to “abuse.” “There is a principle question: should residency be achievable simply by having enough money? I don’t think that is appropriate,” Ó Laoghaire stated, adding that if a comprehensive application was not submitted on the deadline day, “or at least a legitimate pre-application wasn’t submitted before the end of the program, then I don’t believe it should be processed.”
“In any program, when a program closes, the public would expect that to be the end of it. Therefore, I think there is a questionable legal basis for processing [applications submitted afterward].”
Other opposition party lawmakers have also called for the complete closure of the program. Paul Murphy, from the left-wing People Before Profit party, openly criticized the visa-for-investment scheme, stating that it contradicts the values of democratic citizenship. “The fact that wealthy individuals can essentially buy a way to gain citizenship is truly repugnant.”
“I don’t think we should be dealing with these applications anymore,” Murphy said. “It replaces other investments that could be used for money laundering or tax evasion. I believe this program should now be completely terminated.”
In response to criticism, the Ministry of Justice reiterated its previous stance, confirming that the applications accepted were submitted by the end of working hours on the day the program was closed, which was February 15, 2023. “Some pending applications also had three months’ time to complete the process.”