Following the closure of the Immigrant Investor Programme (IIP) on 15 February 2023 it was agreed that arrangements in relation to the orderly winding down of the Programme would be put in place. These arrangements have now been finalised.
The proposed arrangements cover a number of different categories of applications, as set out below:
1) Approved projects
a) Approved projects which have requested additional funding based on increased construction costs
b) Approved projects which have requested additional funding who have introduced additional elements to the project outside of their approved Business Plan
c) Approved projects which have stalled
2) IIP Approved Investment Funds
3) Project Applications on hand pre-closure of the programme
4) Post-Closure project applications
a) Projects submitted without an associated investor, including those where an attempt was made to transfer an existing investor application to serve as an investor for a new project
b) Projects submitted outside the timeframe allowed post closure of the Programme (including those projects where there was no previous substantive engagement with the IIP Unit)
c) Projects that do not appear to be within the scope of the IIP programme
d) Projects which require planning permission
e) Valid project applications which are in scope of the IIP and planning is not an issue
Under these arrangements certain categories of applications will be prioritised for processing either because of the length of time the applications are on hand or a decision can be issued quickly.
The categories of applications to be given priority for processing over the coming months are 1(b), 3, 4(a), 4(b) & 4(c).
Following this, categories 1(a) & 1(c) will be examined and decisions made on these applications. The remaining categories of applications will be examined thereafter.
Given the volume of applications on hand, it is expected to take a number of years to process the remaining categories of applications to final decision and I would ask that you bear with us while we deal with these applications. We ask that you do not contact us about individual applications in the remaining categories. If the IIP Unit needs any additional information in relation to an application it will contact you. The Minister’s decision in relation to applications under the IIP is final.
The closing of the programme did not affect already approved applicants and projects under the IIP. However these projects will continue to be monitored for delivery and compliance with IIP requirements, and approved applicants will still need to meet certain requirements for renewal of their immigration permission.