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Reviews that led to closure of Immigrant Investor Programme should be published - Matt Carthy TD

15 February, 2023 - by Matt Carthy TD

Sinn Féin TD for Cavan Monaghan, Matt Carthy, has called on government to publish the internal and external reviews that led to the abrupt closure of the Immigrant Investor Programme this week.

Raising the matter in questions on Promised Legislation on Wednesday, Teachta Carthy said:

“After months of worrying reports regarding the immigrant investor programme, government yesterday abruptly closed the scheme. 

“The so-called ‘cash for visas programme’ allowed wealthy people to receive Irish residency in exchange for investments in business, or a charitable contribution. 

“There have been serious concerns surrounding the operation of some of the investments made. 

“For instance, last week I raised the situation of the Nuremore Hotel and Country Club in Carrickmacross where staff have not received their salaries owed and where unpaid bills have resulted in the services being disconnected. 

“This has obviously created concerns for the future of the hotel and a potential substantial cost to the state if insolvency follows.

“We are told the government decision to close the immigrant investor programme was informed by both internal and external reviews. Will those reviews be published? And will the Taoiseach and the government commit to a full examination of the operation of this programme?”

In response Taoiseach Leo Varadkar stated: “That I do not know. I would have to check with Minister Harris on that.”

Deputy Carthy added afterwards that it is imperative that a full review of the Immigrant Investor Programme is conducted.

He said: “As a member of the Public Accounts Committee, I certainly will be seeking full transparency on the operation of the programme. An immediate first step must be the publishing of all reviews that led to the government decision this week.”

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