Chinese investors have donated more than €20m to an Irish social housing charity in return for residency status in Ireland. Fifty-two Chinese millionaires endowed €400,000 each to the iCare social housing body as part of the Government's immigrant investment scheme. He described the Chinese investors whom he met as "wealthy individuals who want the option of residency in Ireland". The first Chinese investors applied to donate to iCare through the scheme last year but were approved only two weeks ago. This a scheme that presents a major opportunity over the next 12 months to help with social housing and homelessness," he said.

Source: Irish Independent June 28, 2020 01:30 UTC