The Canadian government has proclaimed it is twofold requirements for foreign investors looking for establishing themselves in Canada, quoting a high boost in demand.
Starting on December 1, foreign investors looking for entering Canada as an immigrant have to have individual net worth of at least 1.6 million Canadian dollars (1.6 million US) and build an investment of 800,000 dollars (798,400 US) or more, Citizenship and Immigration Canada said in a declaration.
The previous criteria had particular 800,000 dollars and 400,000 dollars, in that order. The ministry said the previous criteria, which had stayed unchanged from 1999, were amongst the lowest when compared to other countries with comparable programs.
In June, the immigrant investor program was suspended, specifically for the reason that a high quantity of applications was making wait times excessively long. Move up the requirements will be of assistance to reduce the flow of applications while ensuring attract experienced businessmen who can make a more significant donation to the economy.
Among the just about 252,000 foreigners admit as immigrants or refugees in Canada last year, a little over 12,000 -- five percent -- were measured immigrant investors, in accordance with government data.
The ministry noted that an overseas investor must have a least net worth of 3.3 million Canadian dollars so as to immigrate to Britain under a parallel status. Australia asks for 2.2 million dollars (2.2 million US) in assets and the United States for a slight over one million.
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