Ireland’s closed “Golden Visa” scheme still funds clubs and community hubs: multi-million euro grants approved

Although Ireland shut down its immigration investment programme (Immigrant Investor Program, IIP) for new applications back in February 2023, the grant payments mechanism continues to channel substantial funding to sports clubs and projects supporting local communities. At the end of May, the Ministry of Justice approved a new package of multi-million-euro grants—more than three years after the intake of investors was stopped.

Largest single grant: Shelbourne FC and a Dublin community hub

The biggest one-off award went to the Shelbourne FC team. The club received €9.2 million to develop a community centre (Tolka Park Community Hub) near the refurbished stadium in Dublin. Independent MP Barry Henegan said the funding is intended to support inclusion for people with disabilities and to broaden access for local residents.

Largest regional share: projects in Cork total nearly €15 million

In Cork county, the largest regional allocation was concentrated. Almost €15 million was split across three initiatives:

• €8 million — for new sports facilities for the Gaelic Athletic Association (GAA) in Kinsale;

• €2.8 million — for an indoor training centre for Bandon Athletics;

• €4 million — for the construction of a community hall in Timoleague.

Mayo: €3.6 million for the Islandeady community

In County Mayo, the village of Islandeady received €3.6 million to create a community hub and a biodiversity park. The approval was announced by State Minister Alan Dillon.

Where the money comes from: the “endowment option” and charitable contributions

The funding is delivered through the endowment option, which formed part of the IIP scheme. To take part, applicants had to make a charitable contribution:

• at least €500,000, or

• €400,000 per person if the project involved five or more investors.

The contribution had to be directed towards publicly beneficial purposes related to sport, the arts, healthcare, culture, or education. In return, the donor—and eligible family members named by the donor—could apply for Irish residency.

Ministry of Justice position: the department does not manage the funds or administer contributions

Justice Minister Jim O’Callaghan stressed in the Dáil that the department:

• does not take part in administering the donations;

• does not hold or control the money.

According to the minister, each arrangement is a private matter between the investor and the project recipient. The Ministry of Justice approves the project, after which the funds pass directly from the donor to the intended recipient.

Why payments continue even after the programme is closed

The IIP began in 2012 to attract foreign capital into an economy hit by the crisis. However, in February 2023 the programme was closed to new applications—on a decision made with one day’s notice.

By the time it closed, almost €1.252 billion in investments had been approved, with a significant share coming from Chinese nationals. The grants being received now by clubs and community centres are, in effect, the “tail” of a process that had already been set in motion.

Around 3,127 applications worth roughly €2.12 billion survived the closure, and since then the department has been processing them steadily, including at a record pace in 2024.

Bottom line: even after investor intake ended, Ireland continues to support infrastructure and social initiatives—through commitments that were built into the closed scheme.

Curious how a closed investment residence program can still impact communities and local development? The Ireland case shows that even after new applications were paused, the grant mechanism can keep funding projects—from sports clubs to public hubs. If you’re exploring a Golden Visa or other investment-based residency routes in Europe, Digital Nomad can help you review current options, eligibility, and the best approach for your goals.

Our Telegram channel about various types of Greek residence permits, digital nomad programs, and the Greek Golden Visa: @digitalnomadgr