Published on
Shatter announces Immigrant Investor Programme and Start-up Entrepreneur Scheme
Justice Minister Alan Shatter today announced that he had secured Government approval for the introduction of two major new immigration initiatives aimed at facilitating (non EEA) migrant entrepreneurs and investors who, in return for permission to reside in the State, are prepared to invest here for the purpose of saving or creating jobs.
The new initiatives will be known as;
Announcing the programmes Minister Shatter said:
"I am grateful for the support of my Cabinet colleagues in devising these important initiatives. All of us in our different Departments are committed to doing what we can to help Ireland’s economic recovery and this represents a further installment in my Department’s efforts in this respect, following on from the Visa Waiver Programme introduced last year".
Approved participants in the Investor Programmes and their immediate family members will be allowed enter the State on multi-entry visas and to remain here for a defined period. Ordinarily this will be for a period of 5 years – reviewable after 2 years.
The Start-up Entrepreneur Programme provides that migrants with a good business idea in the innovation economy and funding of €70k can be given residency in this State for the purposes of developing their business (this compares with a previous minimum funding requirement of €300k).
Of the Start-up Entrepreneur Programme, Minister Shatter said:
"We need to do more to tap into the entrepreneurial potential that exists among migrants. Our existing business permission lacked the sort of flexibility needed to attract start-ups. We have been looking at this issue for a while and have had very useful input from State Agencies and other Government Departments in drawing up the proposals".
All applications for both programmes will be considered by an Evaluation Committee comprised of representatives of IDA Ireland, Enterprise Ireland and various Government Departments.
Minister Shatter concluded:
"Immigration systems are often associated with border control but that is only one part of the picture. Immigration systems can assist in job creation and we need to think of migrants not just as workers but as people who can create employment for others".
Read the full press release.