Dublin: The High Court has accepted a case filed by a solicitor’s firm challenging the Irish government’s decision to suspend the Golden Visa scheme, alleging that the move has jeopardised their business. Justice Mary Rose Gearty has granted permission for judicial review proceedings against the government, the Minister for Justice, and the Attorney General. The case is scheduled for further hearing next month.
Legal Challenge Against Government’s Decision
Solicitor Jonathan Cosgrove has petitioned the High Court to overturn the Department of Justice’s decision to halt the processing of applications for the Immigrant Investor Programme (IIP), commonly known as the Golden Visa scheme. The programme allowed non-EU nationals to secure residency in Ireland by making financial investments in designated schemes.
Cosgrove, a principal solicitor at Aidan T Stapleton Solicitors, based in Mary’s Abbey, Dublin 7, argues that the abrupt cancellation of the scheme in early 2024 has significantly impacted investors, primarily Chinese nationals, who had already committed substantial funds.
Lack of Justification for Suspension
According to Cosgrove, his firm was informed via email on November 15, 2024, that the processing of IIP applications at his firm was immediately halted due to an ongoing investigation. However, he claims that no specific reasons or justifications for the decision were provided.
He suspects the suspension was triggered by a complaint lodged with the Legal Services Regulatory Authority (LSRA) but maintains that the government’s response has been disproportionate, putting his firm’s operations, employees, and investors’ funds at risk.
Severe Financial and Legal Repercussions
Cosgrove’s affidavit highlights the devastating financial consequences of the decision, stating that his firm has suffered significant client losses and substantial financial damage, threatening its long-term viability.
The firm has also raised concerns about the Department of Finance’s role in the matter, questioning the legitimacy of its stance on the suspension. In response, a formal complaint has been lodged with the Gardaí, though Cosgrove claims that no follow-up investigation has taken place.
In his affidavit, Cosgrove categorically denies any wrongdoing and asserts that his firm has always adhered to legal and ethical standards in its handling of IIP applications.
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