1088 Chinese Pay Up To €1 Million For Residency
Irish residency is for sale, but only for the right price. I don't remember reading "Ireland Belongs To The Wealthy Foreign Business Owner" in the Proclamation, do you?
Is Ireland for sale? Of course it is! First to the EU now to the highest bidder.
Almost 1,100 Chinese citizens have paid up to €1 million each into Irish social housing, nursing home and other projects, making China the biggest player in a Government cash-for-residency scheme.
Department of Justice figures show that since 2012 non-EU citizens have given €826.5 million to businesses and charities here in return for the right to live in the Republic under the Immigrant Investor Programme (IIP), Irish residency is going cheap!
Chinese citizens made up 1,088 individual investors in the Republic from of 1,166 since the start of the programme. The US was next with 21, Vietnam was third with seven, Saudi Arabia was fourth with four people while 42 contributors came from the rest of the world.
Under the IIP, non-EU citizens and their families get the right to live in the Republic in return for investing €1 million in companies operating in specified industries or donating six-figure sums to charity.
A cheap price for an EU Passport and an open door into Europe's markets. Residents of Lisbon, Portugal, have been priced out of their own city by this very kind of "Golden Passport" purchasing.
Buying property in the city of a certain value grants immediate citizenship, meaning a staggering increase in housing prices forcing Portuguese natives out of their own capital city.
Soon we will have the privilege of living as the serfs of our immigrant class of landlords and oligarchs and all thanks to the EU's weakness on immigration!