I already submitted my IIP application before the closure — what happens now?

Applications on hand at close of business on 15 February 2023 continued to be considered under the programme's normal process; check your case status with the Department of Justice.

What replaced the IIP for investors who still want an Irish residence route?

There's no direct passive-investment replacement. The Start-up Entrepreneur Programme (STEP) remains open, but it requires an innovative business idea rather than a passive investment.

Ireland's Immigrant Investor Programme: is it still open?

Plain-language guide · Ireland · general information

Short answer

No. The Immigrant Investor Programme (IIP) closed to all new applications from close of business on 15 February 2023, following the Minister for Justice's announcement and Government approval. It is not accepting new applicants and there is no indication it will reopen.

What the IIP used to require

Introduced in 2012, the IIP required applicants to be high-net-worth individuals with personal wealth of at least €2 million, then invest a minimum of €1 million in an Irish enterprise or approved fund for at least 3 years, €2 million in a listed Irish REIT for at least 3 years, or make a €500,000 (or €400,000 for 5+ joint applicants) philanthropic endowment. Since its inception the programme approved almost €1.252 billion in investment.

What happens to applications already in the pipeline

The closure did not cancel applications on hand at close of business on 15 February 2023 — approximately 1,500 cases — which continued to be considered. Projects already approved under the programme also continued to be monitored for delivery and compliance, unaffected by the closure.

What's the current route

The Start-up Entrepreneur Programme (STEP), established in 2012, remains open. It targets entrepreneurs with an innovative business idea rather than passive investors, and is administered separately from the now-closed IIP. Full comparison on immicor's Ireland investor-routes deep dive.

STEP is not a drop-in replacement for the IIP — it evaluates the business idea and the entrepreneur's ability to execute it, not simply the size of a cheque, so the application process looks and feels quite different.

Common questions

Can I still apply for Ireland's Immigrant Investor Programme?: No. It closed to all new applications from close of business on 15 February 2023 and has not reopened.
I already submitted my IIP application before the closure — what happens now?: Applications on hand at close of business on 15 February 2023 continued to be considered under the programme's normal process; check your case status with the Department of Justice.
What replaced the IIP for investors who still want an Irish residence route?: There's no direct passive-investment replacement. The Start-up Entrepreneur Programme (STEP) remains open, but it requires an innovative business idea rather than a passive investment.

Not sure whether STEP fits your situation, or what to do with a pending IIP application? Tell the assistant where you stand for a plain-language walkthrough.

This guide is general information about Ireland's closed Immigrant Investor Programme and is not immigration advice. Confirm current status with the Department of Justice (irishimmigration.ie) or an appropriately licensed Irish immigration solicitor.