November 15, 2010
Immigrant Investor Program Re-opens
Citizenship and Immigration Canada will once again open the immigrant investor program, effective as of December 1, 2010. There are new criteria which investors will have to meet such as having a personal net worth of $1.6 million and making an investment of $800 000.
The reason for the suspension of the program in June was due in part to the high volume of applications which led to a long waiting period. Compared to other countries, Canada’s investor criteria are the lowest, which is one of the leading factors in making the changes that are to be implemented in the new program. Minister Kenney believes that it is necessary to raise the requirements to reduce the flow of applications while attracting business people who will contribute positively to the Canadian economy.
The Immigrant Investor Program helps create more jobs and development in the economy, due in part to the investments that are received. Applications received on or after December 1, 2010 will be processed alongside the old applications with the new program criteria.
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