Irish Immigrant Investment Programme (IIP)

 

The IIP was announced by the Department of Justice & Equality in January 2012 and is operated by the Irish Naturalisation and Immigration Service (INIS). The ultimate objective of the programme is job creation and facilitating Irish economic development.

  • The IIP facilitates non-EEA nationals and their families who commit to an approved investment ‘Option’ in Ireland to acquire a secure residency status in Ireland.

  • Investors must be of good character and have not been convicted of criminal offences in any jurisdiction.  

  • Investors must have a minimum net worth of €2m and disclose in full the source of their funds. 

 

Investment Options

 

  1. Enterprise Investment (*€1m for 4 year term) – Fitzwilliam Group’s Social Housing Project is approved by INIS under this option. Investor monies (€1m) are secured by means of a legal ‘First Charge’ on property for the term of the investment. Investment Fund (*€1m for 3 years)

  2. Investment monies are not secured on assets and are subject to investment performance.  

  3. Real Estate Investment Trusts (*€2m, for 5 year term) – Investment amount not competitive.

  4. Endowment (*€500,000) – Not a viable option. *

Minimum requirement

 

INIS Requirements

 

Evidence of Net Worth

Investors must have a minimum net worth of €2 million.

 

Evidence of Funds

Investors must provide proof of funds to be used for investment.

 

Evidence of Source of funds

Investors must provide the necessary evidence to prove the origin of funds. An accountant and a lawyer should be appointed to deal with all sources of funding and any related technical issues. The following sources of funding may be accepted:

  • Business and investment activities

  • Deeds of Sale

  • Inheritance

  • Divorce
     

Evidence that funds can be transferred

All funds must be available to transfer to Ireland and can be convertible into Euros at the time of your application being approved.

 

Evidence of Good Character

Your lawyer can help you obtain the necessary public security evidence to support your application.

Fitzwilliam Group Meeting at Government Buildings  

 

Peter Vambeck (Director of Investment – Fitzwilliam Group); Damien English (Irish Government Minister for Housing & Urban Development); Willie Smyth (Chairman – Fitzwilliam Group); Cillian Smyth (International Client Relations – Fitzwilliam Group)

 
 

Social Housing Project – Introduction

 

Fitzwilliam Boyne Village Social Housing

Background to Social Housing in Ireland

The Government of Ireland Action Plan for Housing and Homelessness (July 2016) notes that the Government is actively seeking ‘off-balance sheet’ mechanisms that facilitate investment into Social and Affordable rental housing, in a manner that does not impact on the General Government Balance Sheet. This forms part of the plan to deliver 47,000 units of social housing in the period to 2021. Fitzwilliam Group’s intention is to work diligently with Government Departments, Local Authorities and Housing Associations during the lifetime of the Action Plan for Housing and Homelessness.

 

Irish Government Approved Project

Fitzwilliam Group’s Social Housing Project has been approved by the Irish Government as a qualifying investment project through the IIP. Please refer to Page 48 for Letter of Approval from INIS.

Project Summary

The Fitzwilliam Group are developing an 120 acre mixed use site known as ‘Boyne’ village which will incorporate Residential, Commercial, Parkland & Enterprise with phased completion expected between Q4 2020 and Q4 2023.

 

Under the Irish Immigrant Investor Programme, Fitzwilliam Group have received approval for €30m of funding for the development of 150 Social Housing Units within the Residential aspect of Boyne Village.   

 

Fitzwilliam Group’s Letters of Support

 

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Boyne Village Social Housing Area Map

 

 

Fitzwilliam Group – Previous Residential Projects 

 

The Fitzwilliam Group provide a professional and efficient delivery service for a wide range of Property related projects. Our highly trained and skilled team pride themselves on their ability to bring efficiencies to the overall Property delivery process. Many of our Professional staff have a Design Team background and are experienced in providing a “Turn-key” delivery solution for a completed Building, from the co-ordination of design solutions right through to successful commissioning and handover to the end-user.

 

The Fitzwilliam Group have completed over 500 Residential Units with a further 1000 Residential Units in development.

 

Investment Terms

Minimum Investment Amount

€1m (Note: Monies do not have to be transferred until an application is approved by the Irish Naturalisation and Immigration Service).

 

Use of Investment Funds

Monies invested in Fitzwilliam Group’s Social Housing Project will be used for the development of Social Housing at Boyne Village, Navan, Co Meath.

 

Security of Investment Funds

Investor monies (€1m) are secured by means of a legal ‘First Charge’ on property for the term of the investment. A ‘Red Book’ Property Valuation prepared by a member of the Society of Chartered Surveyors Ireland will be provided for this purpose.

 

Term of Investment

4 Years.

 

Return on Investment

0% per annum.

 

Investment Management Fee

Not applicable.

 

Irish Lawyer Fee

The Irish Lawyer fee is dependent on the specific independent Lawyer chosen by the Investor to represent them in Ireland.

 

Recouping Investment

After 4 years an Investor’s funds are projected to be returned within 12 weeks of the Investor calling on the funds.

 

Flexible residency

Investors only need to spend one day per calendar year in Ireland to meet the residency requirements of the programme.

 

Management Experience not required

The immigrant investor does not require business management experience.

 

Language skills and qualifications not required

This immigrant investor programme has no English language skills or qualification requirements.  

 

Naturalisation

Investors living in Ireland for five years can qualify for Irish / EU citizenship.

 

Investment Procedure

INIS Approval Letter  

Fitzwilliam Group’s Social Housing Project was approved by the Irish Government in June 2019 as a qualifying investment project through the Irish Immigrant Investor Programme (IIP). For approved projects under the IIP, Fitzwilliam Group has a 100% success rate with the Irish Naturalisation & Immigration Service. Investors who choose Fitzwilliam Group’s Social Housing Project are guaranteed approval under the IIP subject to their application paperwork being in order.

Successful Cases

To date 52 Investors have successfully received their letter of approval for Fitzwilliam Group projects. Our team works diligently with our Immigration Agent partners to ensure that our Investors’ documentation is well received by the INIS. 

Successful Return of Investment Funds 

In August 2019 the Fitzwilliam Group were pleased to return in full the first tranche of investment monies received through the Irish Immigrant Investor Programme (IIP). These investment monies were originally invested in August 2015. The Fitzwilliam Group have now come full circle with respect to the IIP and continue to offer our Investors market leading secured investment options.

 

“I invested €500,000 with the Fitzwilliam Group in August 2015 and successfully obtained my Irish residency under the Irish Immigrant Investor Programme (IIP). I have now received my investment monies paid back in full 4 years later! The Fitzwilliam Group team have at all times acted professionally and I would highly recommend the Fitzwilliam Group for anyone considering achieving Irish residency under the IIP. In the future I look forward to working with them on expanding my property portfolio in Ireland.”

Fitzwilliam Group Investor

Irish Residency Documentation

Stamp 4

This is a stamp which is placed in a passport, it specifies that a person may reside and work in Ireland, this is the residency permit. It is valid for 2 years initially, then extended by 3 years. Then it is extended in 5 year intervals.

 

IRP CARD

Irish Residence Permit (IRP) Card, this is a credit card style authorization. The IRP card contains a persons photograph and details of their residency status (i.e. that they have a stamp 4 etc.)

 

Multi Entry Visa

This is a passport sticker which states that a person under 16 years of age may enter in and out of Ireland for the duration of their parent’s Irish residency permission

Why Invest in Fitzwilliam Group’s Social Housing Project?

  • Fitzwilliam Group were established in 1975 and have been a trusted promoter of the Irish Immigrant Investor Programme since 2012.

  • Fitzwilliam Group have constructed over 500 Residential Units with a further 1,000 Residential Units in development.

  • Investor monies (€1m) are secured by means of a legal ‘First Charge’ on property for the term of the investment. A ‘Red Book’ Property Valuation prepared by a member of the Society of Chartered Surveyors Ireland will be provided for this purpose.

  • Fitzwilliam has established links with high ranking government officials in various departments of the Irish government and Chinese Embassy.

  • Fitzwilliam possesses a comprehensive knowledge of the application procedure and the requirements of the INIS.

  • Fitzwilliam can facilitate an introduction to our recommended legal, accounting, medical, educational and other professional partners in Ireland.

Information is correct at the time of printing. All information provided is subject to terms and conditions. The information set out in this publication in relation to immigration investment is intended as general guidance only. Before investing, independent legal advice should be obtained. 

© 2019