Ireland has emerged as a preferred migration destination among Hong Kong’s high net worth families and professionals. This is evidenced by the more than 300% increase of applications from HK between 2019 and 2020 according to official statistics from the country. With an exceptional standard of living, world class education and the flexibility offered by the country’s Immigrant Investor Programme (“IIP”), The Irish Diaspora Loan Fund (“IDLF”) saw demand increase significantly during the corresponding period. IDLF, one of the approved products under the programme, saw the number of approved applicants increase by over 300% during 2020.
The IIP was established in 2012 to allow individuals and families from outside the European Union to obtain residency in Ireland in exchange for making an approved investment in the Irish economy. Eligible applicants must have a legally accumulated minimum net worth of EURO2 million and make a EURO1 million investment in a product approved under the programme. In 2020, the IIP received over 400 applications from around the world with a growing percentage coming from Hong Kong. Read more…..
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In early December, Ireland had one of the lowest COVID-19 infection rates in Europe. But that has changed rapidly.