Another country is closing the Golden Visa program. This time, we are talking about Ireland.

Starting today, Feb. 15, 2023, Ireland will stop accepting applications for the Golden Visa. This was announced by the country’s Ministry of Justice. One of the reasons for this measure is the recommendation of the European Union. The Minister of Justice of Ireland, Simon Harris, said that it is important to constantly review all the programs adopted in the country and check their relevance and suitability.

A little background. Ireland launched the Immigrant Investor Program (IIP) back in 2012. With its help, it was possible to obtain a residence permit for the country on the basis of long-term investments: for example, investing in the country’s business, an investment fund, a real estate investment trust (REIT), or making a charitable contribution.

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Since its launch, the program has brought the state 1.25 billion euros in investments. Chinese citizens invested the most money: out of 1,547 applications (approved until June 23), the Chinese accounted for about 1,458. 

The Irish government has said that current applications will continue to be considered. At the moment, about 1,500 applications are pending.

Incidentally, Ireland froze the “Golden Visa” program for Russians almost a year ago, at the end of March 2022.