Immigrant Investor Requirements Doubled
June 25th, 2010 § Leave a Comment
As we had predicted in our previous posting on April 29th, the Canadian government announced an increase in the requirements for the Federal Investor Immigrant Program today. Previously, foreign businesspeople with a net worth of at least $800,000 CDN could invest $400,000 into a Government Immigration Fund for 5 years and 3 months with no interest, and qualify for immigrant visas for themselves and their families. This amount had not changed since April 1999; most immigrants would finance their investment with a one time down payment of $120,000.
The new requirements are a net worth of at least $1.6 million CDN, and an investment of $800,000 CDN for 5 years and 3 months. The government also announced an “Administrative Pause”, indicating that it will no longer accept applications for Investor Immigration until the new Regulations become effective, likely this fall.
There may still be an opportunity for business immigrants to immigrate with the $400,000/$120,000 amounts under the Quebec Investor Immigration Program for the next few months. Parlez vous Francais?
