The Canadian Immigrant Investor Program supports the Immigration and Refugee Protection Act objective to support the development of a strong and prosperous Canadian economy, in which the benefits of immigration are shared across all regions of Canada by attracting experienced business people and their economic resources to Canada. Candidates for the Immigrant Investor Program must demonstrate business experience and, prior to June 26, 2010, a Personal Net Worth of $800,000 CDN and make an investment of $400,000 CDN in the Canadian economy in the form of a five-year, zero-interest loan to the Government of Canada, which is fully refunded after the five-year period.
On June 26, 2010, the Government of Canada imposed a moratorium on new Investor Applications. Now, it has been announced that the moratorium will be lifted on December 1, 2010. As of December 1, 2010, the Government of Canada will once again accept Investor Applications; however, the Personal Net Worth and investment amounts have been doubled. Applicants must have a Personal Net Worth of $1.6 million CDN and they must make an investment of $800,000 CDN in the form of a five-year, zero-interest loan to the Government of Canada, which is fully refunded after the five-year period.
Why was this done? According to the Government, thresholds for Personal Net Worth and investment amounts, specified in the Immigration and Refugee Protection Regulations, had remained unchanged since 1999 and were outdated. The relative impact of a $400,000 investment CDN on economic development in 2010 compared to a decade earlier, along with changing client profiles, international competitiveness, and increased provincial/territorial participation in the program, underscored the need for updated Personal Net Worth and investment amounts to reflect todays global wealth.
What does this mean to you?
If your eligibility to immigrate to Canada as an Investor was favourably assessed by Abrams & Krochak and you did not file your Application for Permanent Residence in Canada before the moratorium on new Applications was imposed and you meet the $1.6 million CDN Personal Net Worth requirement, you can now proceed with your proposed Canadian Immigration plans. Should you wish to engage our services, please visit http://www.akcanada.com/resources/bus_inv.cfm. We can have your entire Application package prepared and ready for filing on or after December 1, 2010 so that you do not lose valuable time.
If you do not know whether you meet the eligibility requirements for the Investor category of the Business Class but are interested, please visit http://www.akcanada.com/assessment.cfm and choose “Business” from the drop-down menu for a free assessment of your eligibility within one business day.
If you applied for Permanent Residence in Canada as an Investor before the moratorium on new Applications was imposed, these changes do NOT affect you.