More than 1,200 apply for immigrant investor programme

With the new scheme, introduced in 2012, the visa only requires the person to be in Ireland for a minimum of one day a year. After five years, people who have complied with the programme gain an indefinite right to a residency visa.

For Ireland, more than 90 per cent of applicants are from China, with the US , the United Arab Emirates, Russia and Bahrain coming next. The economic benefits, it said, “do not offset the serious security, money-laundering and tax-evasion risks they present”.

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