Ireland's Golden Visa Is Closed: What International Investors Need to Know in 2026

The Programme Closed. The Story Did Not End There.

Understanding the former IIP, its winding down and Ireland's position in 2026.

What Was Ireland's ‘Golden Visa’?

The Immigrant Investor Programme

Ireland's Immigrant Investor Programme (IIP) was introduced by the Irish Government in 2012. It provided a pathway for qualifying non-EEA nationals to obtain immigration permission in Ireland on the basis of long-term investment through approved programme routes.

The programme was commonly marketed or described internationally as Ireland's ‘Golden Visa’, but that was not its official name. The official programme was the Immigrant Investor Programme, administered by the Department of Justice.

Who Could Apply?

The IIP was open to qualifying non-EEA nationals. Government material at closure stated that applicants were required to have personal wealth of at least €2 million. Applicants were required to satisfy programme conditions including investment through one of the approved routes.

Why ‘Golden Visa’ Is Informal Terminology

The term ‘Golden Visa’ is widely used internationally to describe investor-residency programmes. In Ireland's case, it was a commercial and journalistic shorthand — not the official programme name. Using it as though it describes a current Irish offering is misleading in 2026.

The eligibility criteria, investment thresholds and programme conditions described in this section are historic. The IIP closed to further applications on 15 February 2023. These terms are not available to a new applicant in 2026.

The IIP Closed in February 2023

The Closure Date: 15 February 2023

The Irish Government agreed to close the Immigrant Investor Programme to further applications from close of business on 15 February 2023. The announcement was made by the Minister for Justice on 14 February 2023.

What Closure Meant

Closure meant that no new applications could be submitted after that date. It did not mean that every existing case stopped. The Government put in place winding-down arrangements to address applications already on hand and approved projects and investors already within the programme.

The Programme Did Not Simply Pause

The closure was not a temporary suspension. The Government stated that the programme had been introduced in a different economic period and had fulfilled its purpose. The IIP has not reopened. As at 4 September 2026, it remains closed to further applications.

The Position in 2026

As at 4 September 2026, the IIP remains closed to further applications. A prospective new investor cannot make an IIP application. Any material suggesting otherwise should be treated with caution.

Why Did the Government Close It?

The Government's Stated Reasons

The Irish Government gave several reasons for closing the IIP. The Minister for Justice stated that the programme had been introduced in a different economic period and had fulfilled its purpose. The Government also referred to concerns expressed internationally about immigrant-investment programmes generally.

International Context

At the time of closure, the Minister referred to concerns raised by bodies including the European Commission, the Council of Europe and the OECD about investor-immigration programmes more broadly. These concerns related to the general category of such programmes internationally.

The Irish Programme's Record

The Government stated that the Irish programme had been operated to high professional standards. The Minister noted that almost €1.252 billion of investment had been approved since the programme's inception at the time closure was announced. This figure was stated at the time of closure and is presented here as a historic Government figure.

This publication does not imply that the bodies cited found wrongdoing in the Irish programme itself. It presents the Government's stated reasons for closure as a matter of factual record.

What Happened to Existing Applications?

Applications on Hand at Closure

When the IIP closed to further applications on 15 February 2023, there were applications already on hand that had been submitted before the closure date. The Government put in place winding-down arrangements to address these cases.

The Scale of the Legacy

Official material stated there were approximately 1,500 cases on hand at the time of closure. Given the volume of cases, the Government indicated that processing remaining categories was expected to take a number of years.

What the Winding-Down Arrangements Covered

The winding-down arrangements provided for applications on hand and specified categories to continue through processing. The precise scope of the winding-down arrangements was set out in official Government and Immigration Service Delivery guidance.

The Position in 2026

Official winding-down arrangements provide for qualifying legacy cases to continue through the applicable processing framework. The exact status of any individual case depends on the specific facts of that case. This publication cannot determine the status of any individual historic application.

Closed to new applications does not mean all legacy processing ended in 2023. A person with an existing IIP case — whether as an applicant, an approved investor or a project — needs case-specific advice from an appropriately qualified Irish immigration professional.

What Happened to Approved Projects and Investors?

Approved Projects and Investors

The closure of the IIP to further applications did not affect existing projects or individuals already approved under the programme. Approved projects continued to be subject to Department of Justice monitoring for delivery and compliance with programme requirements.

Continuing Obligations

Approved projects and investors remain subject to the requirements applicable to their particular legacy IIP position, including any monitoring, compliance, project-delivery or immigration-renewal requirements that continue to apply.

Approved Projects

Approved projects that received IIP investment continued to be subject to monitoring by the IIP Unit within the Department of Justice. Projects are expected to deliver on the commitments made in their approved applications. The closure of the IIP means approved-project status should not be presented as creating a general route for new IIP applications. Any project-specific position within the winding-down arrangements requires case-specific professional advice.

The Practical Point

A person with an existing approved IIP case — whether as an investor or a project — should obtain current case-specific advice from an appropriately qualified Irish immigration professional. The position of any individual case depends on the specific facts, the applicable winding-down arrangements and current Department of Justice guidance.

How the Former IIP Worked

Former Programme — Historic Information. The IIP is closed to new applications. This section describes the former programme for context only.

The Former Programme Framework

The Immigrant Investor Programme operated as a Government-administered scheme under which qualifying non-EEA nationals could apply for immigration permission in Ireland on the basis of investment through one of the approved programme routes.

How Applications Were Made

Applications were made to the IIP Unit within the Department of Justice. Applicants were required to demonstrate that they met the programme's eligibility criteria, including the personal-wealth requirement, and to propose investment through one of the approved routes.

Government Decision-Making

Immigration approval under the IIP was a matter for the Government and the Department of Justice. Approval was not automatic upon investment. The programme involved an assessment of the application and the proposed investment, and approval remained subject to Government decision-making.

What the IIP Was Not

The IIP was not a citizenship-by-investment programme. It provided immigration permission to reside in Ireland — not Irish citizenship. Citizenship is a separate matter governed by Irish nationality law and applicable eligibility requirements.

The Historic Investment Options

Former Programme — Historic Information. These routes are not available to new applicants. The IIP is closed.

The Four Routes at Closure

At the time of closure in February 2023, the IIP offered four investment routes. These are described here for historic context only. They are not available to new applicants.

• Enterprise Investment — investment in an Irish enterprise, subject to programme conditions
• Investment Fund — investment in an approved investment fund, subject to programme conditions
• Real Estate Investment Trust (REIT) — investment in an Irish REIT listed on the Irish Stock Exchange, subject to programme conditions
• Endowment — a philanthropic contribution to a project of public benefit in Ireland, subject to programme conditions

The Government Bond and Mixed Investment options had previously been suspended in 2016 and were not available at the time of closure.

Investment Thresholds

The IIP set minimum investment thresholds for each route. These thresholds were set out in the official IIP guidelines applicable before closure. They are not reproduced here as current figures because the programme is closed and the thresholds are no longer relevant to a new applicant.

The routes and thresholds described in this section are historic. They cannot be used to make a new IIP application. Any material presenting these as a current investment offer should be treated with caution.

Residence Under the Former IIP

Former Programme — Historic Information. The IIP is closed to new applications. This section describes the former residence framework for context only.

Immigration Permission Under the Former IIP

Under the former IIP, successful applicants received immigration permission to reside in Ireland. The nature of the permission, the renewal framework and the applicable conditions were set out in the official IIP guidelines and applicable immigration rules.

What the Permission Was

IIP immigration permission was a permission to reside in Ireland — not a guarantee of permanent residence or citizenship. The permission was subject to renewal and to continuing compliance with applicable programme and immigration requirements.

Family Members

The former IIP provided for qualifying family members of an approved investor to be included in the application. The applicable family-member categories and conditions were set out in the official programme guidelines.

Continuing Compliance

Approved investors were required to maintain compliance with the applicable conditions of their immigration permission and programme requirements. Renewal of permission was subject to satisfying the applicable renewal criteria.

What Legacy IIP Investors Need to Know

Who This Section Is For

This section is for individuals who already have an existing IIP case — whether as an approved investor, an applicant within the winding-down arrangements, or a person connected with an approved IIP project. It is not for prospective new applicants.

Key Considerations for Legacy Investors

• The current status of their specific application or approval
• Whether their case falls within the winding-down arrangements
• Renewal requirements for existing immigration permissions
• Compliance with applicable programme conditions
• Project delivery obligations where relevant
• Any requests for information from the IIP Unit
• The importance of maintaining complete and current records
• Whether any change in personal circumstances affects their position

The IIP Unit

The IIP Unit within the Department of Justice administers legacy IIP cases. Correspondence from the IIP Unit should be responded to promptly and completely. Any request for information from the Department of Justice should be addressed carefully and within any applicable timeframe. The significance of a request depends upon the circumstances of the individual case.

A person with an existing IIP case needs case-specific advice. The position of any individual legacy IIP case depends on the specific facts of that case, the applicable winding-down arrangements and current Department of Justice guidance. Appropriately qualified Irish immigration advice should be obtained.

Does Ireland Have a Golden Visa in 2026?

The Direct Answer

Ireland does not currently offer a passive investment residency programme open to new applicants in the manner the former IIP did. The IIP is closed. There is no direct replacement programme that provides residency in exchange for a qualifying passive investment.

What This Means for a Prospective Investor

A prospective investor who encounters material describing Ireland's ‘Golden Visa’ as a current offering should treat that material with caution. If the material describes the IIP's investment routes, thresholds or application process as currently available, it is describing a programme that closed to new applications on 15 February 2023.

Other Irish Immigration Routes

Ireland has other immigration routes for qualifying individuals, depending upon their circumstances. These include routes for entrepreneurs, employees, family members, students and others. However, these routes have their own eligibility criteria and should not be marketed as a continuation of the IIP or as a passive investment residency programme.

IIP closed does not mean Ireland closed to international applicants. Ireland remains open to international applicants through appropriate immigration routes. The closure of the IIP means that the specific passive-investment residency route is no longer available — not that Ireland is closed to international business or immigration generally.

The Start-up Entrepreneur Programme (STEP)

What STEP Is

The Start-up Entrepreneur Programme (STEP) was introduced in 2012 and remains available for qualifying applicants. STEP is a separate programme from the IIP with its own eligibility criteria, application process and conditions.

Published Eligibility Criteria

Based on current Immigration Service Delivery material, published STEP eligibility includes:

• An innovative business proposal — the business must be genuinely innovative
• €50,000 of required funding available for the business
• Good-character requirements — no disqualifying criminal convictions under the published criteria
• Other conditions as set out in current official guidance

The Application Process

Current applications may be made electronically through the Immigration Service Delivery system. Proposals are considered by an evaluation committee. The full eligibility assessment and application requirements should be checked against current official STEP guidance before any application is made.

Conditions of Approval

If approved, the applicant must comply with the conditions of the permission. Current official material states, among other conditions, that the applicant must establish the business as outlined in the application, work on that business on a full-time basis, not be employed in another capacity, and not become a financial burden on the State.

STEP Is Not a Replacement Golden Visa

Two Fundamentally Different Programmes

The IIP and STEP are fundamentally different programmes designed for fundamentally different applicants. Treating STEP as a replacement for the IIP — or as a passive investment residency route — is a significant misunderstanding.

IIP Was an Investor Programme

The IIP was designed for qualifying investors who would invest capital through one of the approved programme routes. The investment was the qualifying activity. The IIP did not generally require the applicant personally to establish and work full-time in an innovative Irish business in the manner required under STEP. The precise obligations depended upon the historic IIP investment route and programme conditions.

STEP Is an Entrepreneur Programme

STEP is designed for qualifying innovative entrepreneurs who will establish and operate an innovative business in Ireland. The qualifying activity is the establishment and full-time operation of the approved business — not a passive investment.

The €50,000 Is Not a Purchase Price for Residence

The €50,000 funding requirement under STEP is a requirement for the qualifying innovative business — not a fee or investment that secures residence. A person cannot simply provide €50,000 passively and obtain STEP permission. The applicant must have an innovative business proposal, satisfy the eligibility criteria and, if approved, establish and work full-time in the approved business.

What STEP Is Not

STEP is not the new Golden Visa. It is not a replacement Golden Visa. It is not a passive investment residency route. Describing it as such would be misleading to a prospective applicant.

Residence, Tax Residence and Citizenship

Three Different Questions

Immigration residence, tax residence and citizenship are three separate legal concepts governed by different bodies of law. They should not be conflated. Obtaining one does not automatically produce the others.

Immigration Residence

Immigration residence is permission to reside in Ireland under the applicable immigration framework. It is granted by the Department of Justice and is subject to the applicable conditions and renewal requirements. It does not automatically create or prevent Irish tax residence.

Tax Residence

Irish tax residence is determined separately under Irish tax law and the individual's specific circumstances. Immigration status and tax residence should therefore be analysed separately.

Citizenship

Irish citizenship is a separate legal matter governed by Irish nationality law and applicable eligibility requirements. Naturalisation as an Irish citizen requires satisfying the applicable residence and other conditions under the Irish Nationality and Citizenship Acts. An immigration permission — including a former IIP permission — does not automatically qualify a person for naturalisation.

A residence permission is not a tax ruling. And it is not a passport. Each of these questions — immigration residence, tax residence and citizenship — requires separate analysis under the applicable law and the individual's specific circumstances. Specialist Irish immigration, tax and legal advice should be obtained where any of these matters is relevant.

What Should a Prospective Client Do Now?

A Practical Decision Framework

The appropriate response to an Irish residency enquiry in 2026 depends entirely on whether the matter concerns an existing legacy IIP case or a new prospective immigration objective. These are different situations requiring different approaches.

1. Establish whether this is a legacy IIP matter or a new enquiry. The first question is whether the client has an existing IIP case — as an approved investor, an applicant within the winding-down arrangements, or a person connected with an approved project — or whether they are a prospective new applicant.
2. If legacy IIP — identify the exact status of the case. Legacy IIP cases require case-specific advice. The status of any individual case depends on the specific facts, the applicable winding-down arrangements and current Department of Justice guidance.
3. If new — do not plan a new IIP application. A prospective new investor cannot make an IIP application. Any planning based on the assumption that a new IIP application is possible is based on incorrect information.
4. Identify the client's real objective. What is the actual objective — entrepreneurship, employment, family, study, business establishment or another lawful route? The appropriate Irish immigration route depends on the client's actual circumstances and objectives.
5. If STEP may be relevant — test the criteria properly. If STEP may be relevant, the innovative-business and funding criteria should be assessed honestly — not treated as an investment product. STEP requires a genuine innovative business proposal and full-time commitment.
6. Consider tax residence separately. Tax residence is a separate question from immigration residence. It should be considered separately with specialist Irish tax advice.
7. Obtain specialist advice where required. Specialist Irish immigration, legal and tax advice should be obtained where any of these matters is relevant.

Practical Decision Checklist

Legacy IIP

• Was an application lodged within permitted closure arrangements?
• Is the investor already approved?
• Is the project approved?
• Has the IIP Unit requested further information?
• Are renewal requirements current?
• Are compliance or project-delivery requirements relevant?
• Are records and supporting documents complete?

New Applicant

• Is the client relying on outdated Golden Visa material?
• What is the actual objective: residence, entrepreneurship, employment, family or study?
• Could STEP genuinely fit an innovative entrepreneurial proposal?
• Is the required business funding available if STEP is considered?
• Will the applicant actually establish and work full-time in the approved business?
• Has individual eligibility been assessed against current official criteria?

Wider Planning

• Has tax residence been considered separately from immigration residence?
• Is Irish company formation or business establishment required?
• Are banking and business-location requirements relevant?
• Are source-of-funds or source-of-wealth documentation requirements relevant?
• Are family-member immigration requirements relevant?
• Is specialist Irish immigration, legal and tax advice needed?

Information Sources

• Is the client relying on current official Immigration Service Delivery guidance?
• Has the current STEP page been checked for current eligibility criteria?
• Has the IIP closure material been reviewed for the current winding-down position?
• Has specialist Irish immigration advice been obtained for any legacy case?

Common Errors

Why Errors Occur

Errors in Irish residency planning typically arise from relying on outdated material, misunderstanding the distinction between different programmes, or conflating immigration, tax and citizenship questions.

• Believing the IIP is still open. The IIP closed to further applications on 15 February 2023. It is not open for new applications. Material describing it as open is outdated.
• Using historic investment thresholds as a current offer. The historic IIP investment routes and thresholds describe a programme that is no longer open. They cannot be used to make a new application.
• Calling STEP the new Golden Visa. STEP is an entrepreneur programme, not a passive investment residency route. It is not a replacement for the IIP and should not be described as such.
• Assuming €50,000 of passive investment secures STEP. The €50,000 is a funding requirement for the qualifying innovative business — not a fee for residence. STEP requires a genuine innovative business proposal and full-time commitment.
• Assuming immigration residence equals tax residence. Irish tax residence is determined separately under Irish tax law. An immigration permission does not automatically create or prevent Irish tax residence.
• Assuming residence equals citizenship. Irish citizenship is a separate matter governed by Irish nationality law. An immigration permission does not automatically qualify a person for naturalisation.
• Assuming a legacy IIP case has automatic approval. Legacy IIP cases remain subject to applicable winding-down arrangements, compliance requirements and renewal conditions. Legacy status is not unconditional.
• Relying on outdated third-party websites. Current official guidance from Immigration Service Delivery is the authoritative source. Third-party immigration-agent or investment-fund marketing material may be outdated or inaccurate.