To ask the Minister for Justice and Equality the steps he has taken to ensure the immigrant investor programme adheres to best practise in the OECD in relation to investor programmes in relation to anti-money laundering, international sanction checks, political exposed persons and client verification; and if he will make a statement on the matter.
I can inform the Deputy that my Department introduced enhanced due diligence checks in 2018 on all applicants to the Immigrant Investor Programme. This involved the utilisation of best in class compliance databases including politically exposed person checks. Further control measures were introduced from 1 January 2019 . All applicants must now provide a third party due diligence report from a risk management company. Additionally, all personal documentation must be apostilled or dually legalised in the country of origin before it will be accepted.
In 2019 a data sharing agreement was signed with the Revenue Commissioners which allows for the sharing of certain applicant information with the Revenue Commissioners for onward sharing with both the OECD and the applicant's country of origin. This measure was adopted to support the OECD’s Common Reporting Standard. The data will be shared once an applicant has made their investment in Ireland.
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