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“ There is no obligation on
investors or their family
members to reside in Ireland
under the IIP. They must
simply visit Ireland at least
once per year to retain their
residence permission. ”
THE INVESTOR
T h e p o t e n t i a l i n v e s t o r m u s t c o m m i t t o m a ke a
minimum donation of 500,000 euros. In the case of
a group of five or more investors who combine to
contribute to one project, the minimum donation is
400,000 euros per investor.
In suppor t of the IIP application, the investor must
provide evidence of the funds to be used, including their
provenance and the ability of the applicant to transfer
those funds to Ireland. The source of the funds can
be business and investment activities, deeds of sale,
inheritance and gifts and/or divorce settlements. Where
the source is a gift, the applicant must show that the
person making the gift has the capacity to do so and they
must provide an explanation for the gift. Loans cannot be
considered as a source of funds.
The investor must also show that they are independently
wealthy or self-sufficient and have a minimum net worth of
2 million euros. They must demonstrate that their net worth
was acquired legally. In addition, applicants must provide
an explanation of all financial activities for the previous 12
months, including income, investments and loans.
In order to establish the applicant’s and their family
members’ good character, they must provide a statement
of character from police authorities in each country in
which they have resided for more than six months during
the previous 10 year period and due diligence reports
from an international risk management and security
organisation for family members aged 16 and older.
The purpose of the above is to ensure thorough, comprehensive
and complete Anti-Money Laundering (AML) checks are
undertaken. This is a key consideration in the assessment of
any application by the Irish authorities. It is also likely to be an
important consideration for any charity to which a donation is
proposed to be made in view of the charity’s own regulatory,
ethical and governance requirements.
Once approved, the investor must provide the authorities
with a letter from a solicitor in Ireland confirming the funds
have been donated to the registered charity, a letter from the
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