Following the closure of the Immigrant Investor Program (IIP) on 14 February 2023, it was agreed to put in place arrangements for the orderly termination of the programme. These arrangements have now been finalized.

The proposed arrangements cover a number of different categories of applications, as set out below:

1) Approved projects

A) Approved projects that requested additional funding based on increased construction costs
b) Approved projects that requested additional funding and that introduced additional elements to the project outside their approved business plan
c) Approved and discontinued projects.

2) Investment funds approved by the International Investment Program
3) Project applications in hand before the program closes
4) Post-closure project applications
a) Projects submitted without an associated investor, including those where an attempt has been made to transfer an existing investor’s application to act as an investor for a new project
b) Projects submitted outside the permissible time frame after the closure of the program (including those projects where there was no previous substantive engagement with the IIP unit)
(c) Projects that do not appear to fall within the scope of the international investment programme
d) Projects that require planning permission
e) Valid project applications that fall within the scope of the international investment and planning program are not a problem.