Federal Investor program temporarily closes its doors to new applicants

CIC News
Published: June 28, 2010

On June 26, 2010, Canadian Immigration Minister Jason Kenney announced that the Government of Canada temporarily closed applications for the immigrant investor program. Effective June 26, 2010, the Government of Canada announced that it will cease accepting new investor applications. This said, any application postmarked or received before June 26, 2010 will be considered.

The Government has stated that it wishes to prevent a flood of applications from being submitted in advance of newly proposed eligibility criteria for the immigrant investor program. Proposed regulatory changes will require new investors to have a personal net worth of $1.6M, up from $800,000, and make an investment of $800,000, up from $400,000.

Canada's current criteria for investors are the lowest in the world, and have not been changed since 1999. As a result the program draws a larger number of applicants than can be admitted every year under the immigration plan, and processing times are increasing. These proposed changes are designed to keep Canada's investor program waiting times short.

"Canada needs investor immigrants," said Minister Kenney. "These changes are necessary to keep Canada's program competitive with that of other countries, and keep pace with the changing economy."

The Quebec Investor program is still open. For more information, please visit http://www.canadavisa.com/quebec-business-immigration.html.

Share this article
Share your voice
Did you find this article helpful?
Thank you for your feedback.
Subscribe to our newsletter
Did you find this article helpful?
Please provide a response
Thank you for your helpful feedback
Please contact us if you would like to share additional feedback, have a question, or would like Canadian immigration assistance.
  • Do you need Canadian immigration assistance? Contact the Contact Cohen Immigration Law firm by completing our form
  • Send us your feedback or your non-legal assistance questions by emailing us at media@canadavisa.com
Top Stories
Ontario and British Columbia invite candidates to apply for nomination in latest PNP draws
Report: Approval, processing rates drop after IRCC’s student cap
IRCC ends flagpoling services for PGWP applicants
Join our free newsletter. Get Canada's top immigration stories delivered to your inbox.
More in Work
IRCC ends flagpoling services for PGWP applicants
International students are no longer eligible to apply for their PGWP at Canada's borders.
Report recommends that Canada phase out closed work permits
Two workers in a factory are talking and smiling
What are my chances of receiving a work permit through the IEC this year?
A young man smiling in an office building while looking at his phone.
Which jobs received the most LMIAs in 2023?
A picture of a Canadian visa above an application for a Labour Market Impact Assesment.
Link copied to clipboard