|
|
|
|
|
HONG KONG, Dec 5, 2019 - (ACN Newswire) - Higher educated andaffluent Hong Kong citizens are increasingly attracted tomigrating to Ireland due to a growing recognition of thesimilarities between Ireland and Hong Kong. Families recognisethe English-speaking country's common law system, vibranteconomic prospects and quality education for children. TheIrish Diaspora Loan Fund ("IDLF"), one of the approved productsunder the Immigrant Investor Programme ("IIP"), saw the numberof investor applicants increased by 300% in the last sixmonths.
The IIP was established in 2012 to allow wealthy individualsand families from outside the European Union to obtainresidency in Ireland in exchange for making an approvedinvestment in the Irish economy. Eligible applicants must havea legally accumulated minimum net worth of EUR2 million andinvest EUR1 million in investments approved by the programme.In 2019, IIP received over 420 applications with a growingpercentage of those now coming from Hong Kong.
According to Andrew Parish, Chief Commercial Officer of IDLF,the typical profile of an applicant from Hong Kong is aprofessional working in finance, medicine or law with a coupleof children in school. "Many Hong Kong families have identifiedhow familiar Ireland feels, given the many similarities betweenIreland and their hometown. Ireland is internationally renownedfor the quality of its education and vibrant growth momentum.Our investor families look forward to sending their children toIrish universities to gain world-class degrees and secureexciting careers in some of the top tech companies in the world- all of whom are located in Ireland." Mr. Parish added.
The majority of the potential applicants in Hong Kong, whenmaking their inquiries, recognised that Ireland's common lawsystem, English-speaking environment, excellent educationsystem, vibrant economic prospects are all similar to what theysee in Hong Kong. These, when coupled this familiarity with thepicturesque natural sceneries and clean environment, makeIreland a compelling option. Furthermore, the fact that theIrish scheme does not require the applicant to physicallyrelocate, but to simply visit the country for just one day peryear to retain their residency status, is particularlyattractive for applicants and families who contemplate tocontinue their business or career aspirations in Hong Kong.Families are looking for investment products that arewell-regulated, highly transparent, low risk with highconfidence that they can get their money back at the end of theinvestment period with their residency rights approved. Theysee IDLF as a safe and secure option with approvals grantedbefore actually making the investment, implying a 100% approvalrate.
IDLF focuses on supporting the hotel sector throughcollateralized lending to owner-operated hotels for facilityimprovements and employment of additional staff. It has pickedthe hotel sector to support because Ireland's tourism industryis booming with some 11,000 new hotel rooms required to meetdemand. Irish hotel occupancy rates are among the highest inEurope. Lending to this sector also boasts attractive securityoptions on the property and assets, providing an extra layer ofsecurity for the investors.
"Irish and Hong Kong people share many similar traits,including a strong work ethic, an enjoyment of friends andfamily, and a zest for life", says Mrs Joanna Murphy, CEO ofIDLF. "Over the last year, we have seen a huge increase in HongKong families who recognise these similarities and value theopportunity to secure residency rights in Ireland. In IDLF, weenjoy nothing more than helping these families discover Irelandand build options for the future. We are delighted in providinga bespoke concierge service to these families to help them atall stages of their application process and building afootprint in Ireland, giving them a peace of mind to continuepursuing their business and career ambitions in HongKong."
The European Commission's Spring 2019 European EconomicForecast predicts GDP growth in Ireland to be at 3.8%, becomingthe fastest growing economy in Europe for the fifth year in arow. Underlying economic activity in the country is expected toremain robust, driven by investment in construction andpositive labour market developments.
Recognised as "the Silicon Valley of Europe", due to the extentof Foreign Direct Investment of the world's top companies intoIreland, including Google, Facebook, Apple, Microsoft and manyothers. Ireland is now home to the world's top technology,medical device and pharmaceutical companies. Potentialapplicants from Hong Kong also count the vibrant economy andfriendly investment environment in Ireland as key attributesbacking their decisions.
About Irish Diaspora Loan Fund
Irish Diaspora Loan Fund ("IDLF") is a low-risk investment fundauthorised and regulated by the Central Bank of Ireland. Itoffers the opportunity for foreign investors to invest inIreland in return for long term residency status.
IDLF is an asset-backed mutualised debt fund which offers avery secure option for investors seeking to access the IrishImmigrant Investor Visa Programme. The fund ensures maximumprotection of investor funds, by following a conservative,low-risk loan investment policy. It issues innovative financeto a portfolio of Irish businesses which will each increaseemployment levels throughout the lifetime.
Its board of directors includes seasoned, successful businessand finance leaders and a former Taoiseach (Prime Minister) ofIreland.
For more information, please refer to: https://www.idlf.ie/
Topic: Press release summary
Source: Irish Diaspora Loan Fund
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
