Financial Services welcomes migration reform

Financial Services Ireland (FSI), the national financial services industry body, has today warmly welcomed the announcement by the Minister for Enterprise, Trade and Employment, Micheál Martin, to reform migration procedures.

Financial Services Ireland (FSI), the national financial services industry body, has today warmly welcomed the announcement by the Minister for Enterprise, Trade and Employment, Micheál Martin, to reform migration procedures.

FSI called on the Government last year to introduce streamlined migration measures to ensure that Ireland could attract people from overseas with key skills.

Director of FSI Aileen O’Donoghue: “The introduction of the green card scheme is a very positive and important step for Ireland. The global financial sector is highly competitive and Ireland needs to have access to people from overseas with financial skills in high demand globally.

"To date, our ability to compete for these key skills with other financial centres was constrained. The new green card system introduced by the Minister today, has radically and positively altered our ability to attract highly-skilled people from overseas, including risk, funds, legal and accounting professionals.”

“FSI welcomes the response by the Minister to our suggestion that Irish migration policy should be aligned with Irish industrial policy.

"We have made great strides in attracting investment from multinational financial companies to Ireland, the changes recommended by FSI and adopted by the Minister will enable us to bring highly-skilled staff from these jurisdictions to assist us in establishing these ground-breaking investment projects in Ireland.”

“The green card scheme will facilitate the entry into the financial services labour market of qualified nationals from key non-EU jurisdictions.

"This initiative will assist the financial services sector in addressing current skills gaps in the financial sector much more efficiently.

"Employment in the financial sector has grown by over 50% over the last eight years. It is forecast that employment in the financial sector will increase by a further 75% by 2020.”

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