Property trusts to qualify for visas-for-investment scheme

Immigrants who put cash into real estate investment trusts (REITs) will qualify for a special visa programme launched last year.

Under the Immigrant Investor Programme launched by the Department of Justice and Equality in March last year, non-European Economic Area citizens and their families qualify for five-year visas if they invest in specific areas.

Minister for Finance Michael Noonan said he had agreed with Alan Shatter that REITs should be added to the grounds for granting these visas.

The minister said that this would be subject to conditions.