Amends in Federal Immigrant Investor Program of Canada

The government of Canada is going to make some proposals in the immigrant investor category and therefore would be appear with certain amendments in the eligibility criteria destined for the same. Believe is that the change would assist in strengthening the Canadian financial system even additional as more immigrants would be capable of contributing in it.

Consistent with the new proposals, new investors would be requisite to have monetary assets of $1.6M. As compared to this number, earlier it was necessary to own a personal net worth of $800,000.

Over and above this facet, changes would need the applicant to make an investment of $800,000, a figure which has double its original quantity of investment $400,000, which was in harmony to the former rules. The same was available in Canada Gazette on 26th June, 2010.

Till the time the revision is implemented, the government will not recognize any of the application forms under the apprehensive category. This would be done to stop the extreme flocking of applications around the year. Since the year 1999, it has been the first time that the alterations are going to be inculcated beneath this category. Keeping in mind the easier eligibility criteria for this program, larger figure of immigrants used to enter the country under this category.

Also, after the revision would be finalized, the new forms would be processed alongside the earlier ones, a facet which will let the government to know the benefits of the amendments at the first go. In accordance with Minister Kenney, Canada is in require of Investor immigrants and the amendments would help the country in keeping up with the pace of changing economy.


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