Bartra lobbied to cut cash-for-residency sum to lure more investors Scheme payment unchanged at €1m despite claim €500,000 would be more attractive
Fri, Jan 29, 2021, 05:10
Developer Bartra urged the Government to cut the minimum payment required by a State cash-for-residency scheme to €500,000 from €1 million to lure extra investment to the Republic.
More than 1,100 investors from non-EU countries have paid €826.5 million into social housing, healthcare, tourism and other projects in return for the right to live in the Republic through the State’s Immigrant Investor Programme (IIP).
James Hartshorn, Bartra Asia director, confirmed that the company lobbied the Government to cut the minimum investment required under the programme to €500,000 from €1 million, arguing this would make it more attractive to international investors.
Chinese invest in Irish social housing and nursing homes 200 secure Irish residency through investments via developer Richard Barrett’s Bartra
Sat, Jan 9, 2021, 01:00
Chinese investors are paying €1 million each to social housing schemes planned by developer Richard Barrett’s Bartra Capital, in return for the right to live in the Republic under a Government cash for residency programme.
The Department of Justice’s Immigrant Investor Programme (IIP) allows non-EU citizens and their families the right to live in the Republic in return for investments or charity donations.
Bartra confirmed on Friday that it has been using the scheme to raise capital from Chinese investors to build social housing and nursing homes in the Republic.