Chinese investor claims cash-for-visa firm no longer operating in Ireland

Zhiming Xi, who invested €1m through the Immigrant Investor Programme, is suing the Huawen Foundation after it failed to respond to his concerns

The Nuremore Hotel & Country Club in Carrickmacross, Co Monaghan is now the Huawen Foundation’s registered office

A Chinese millionaire is suing one of the country’s biggest cash-for-visa companies over fears that the firm has ceased operations in Ireland.

Zhiming Xi, a designer from Beijing, filed a case in the High Court last week against the Huawen Foundation, which has raised around €45 million over the last five years.

Xi gave €1 million to the company to invest as part of Ireland’s Immigrant Investor Programme (IIP), which allows high-net worth individuals to ...