Irish universities secured millions through ‘golden visa’ scheme, records show

A number of universities secured millions of euro in donations through a now closed “golden visa” scheme for wealthy immigrants, internal records show.

Amid concerns over a surge in applications from China, the Cabinet this week decided to scrap the Immigrant Investor Programme (IIP), which offered residency to individuals in exchange for significant investments or donations.

Dublin City University (DCU) received €4.4 million under the scheme, University of Galway secured €1.6 million in IIP donations, while it is understood Trinity College Dublin (TCD) also benefited significantly.

Several universities refused to disclose how much they had received in donations under the scheme, as well as how much they had paid to agents to solicit donors.

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Who's really benefitting from the Irish 'golden visas' bought by Chinese millionaires?

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The programme opened residency in the State to non-Europeans with “at least €2 million” in personal wealth. Applicants were required to invest €1 million in an Irish business or to make a €500,000 philanthropic donation or a €400,000 donation in certain cases.

Documents show several universities have used donations from the scheme to fund projects in recent years.

Records show University of Galway was approached about the scheme in 2018 by Kylin Prime, a real estate investor which has subsidiaries in Ireland, Switzerland and Cyprus.

While the university’s fundraising foundation was cleared to pursue the scheme, the university board “urged caution”.

The Charities Regulator informed the university that it was “not appropriate” to pay agents, such as Kylin Prime, a percentage of any donations, according to an internal October 2020 memo.

[ End of ‘golden visa’ migrant scheme may leave hole in some pockets ]

The university would have to pay any fees to agents out of its own funds, rather than from a cut of donations received, it said. The memo stated the university had agreed to pay the agents 5 per cent of the value of donations.

It outlined a Dundalk-based firm, Lawlor Associates Consulting Ltd, would secure IIP donors for the university on behalf of Kylin Prime. The memo said individuals the firm assisted in applying for the residency scheme were mainly Chinese nationals.

In a letter on May 7th, 2021, university president Prof Ciarán Ó hÓgartaigh was informed €1.6 million in donations had been secured for a new access hub on the campus.

A further memo on July 5th, 2022, stated a “significant increase” in the percentage paid to the agents was necessary.

The records were released to The Irish Times following a series of requests under the Freedom of Information (FoI) Act.

[ The Irish Times view on the Immigrant Investor Programme: residency for sale ]

DCU accepted 11 donations of €400,000 each under the scheme towards the development of a new science, computing and engineering building on its Glasnevin campus. While records show the university used Lawlor Associates Consulting as agents to secure donations, DCU refused to disclose details of fees it paid the firm for the work.

Lawlor Associates Consulting’s website states it had also worked with University College Dublin (UCD), TCD, Dundalk Chamber and the Royal Dublin Society.

TCD refused an FoI request for figures on how much it took in in IIP donations, claiming the information was financially and commercially sensitive.

UCD also refused to disclose details of any donations it had received under the scheme, claiming as its fundraising foundation was set up as a separate legal entity, it was not subject to FoI legislation.

Both Maynooth University and University of Limerick stated they had not participated in the scheme.

The Department of Justice granted 306 applications under the scheme last year, 282 of them from China.