WWICS Blog

Canada re-opens federal immigrant investor program


Posted On : 15 November,2010

Canadian government has re-opened federal immigrant investor program from December 1 this year for citizenship and immigration.

Elaborating the details, Col BS Sandhu, CMD, World Wide Immigration Consultancy Services (WWICS) said that earlier program was suspended in June this year due to a large number of pending applications under this program and subsequent waiting lists.

”As per new criteria, investors need to have a personal net worth of $1.6 million, up from $800,000 under the old criteria. Investors would now be able to make an investment of $800,000, increased from the previous rule of $400, 000,” he said.

However, the criteria for other parameters like business experience, age, education, language, etc remain the same for the program.

International investors under this program have numerous benefits that include permanent resident status up front and guaranteed repayment of investment. There is no requirement of passing IELTS and even education standards can be lower. There is also relaxation on the age of the applicant.

He added that all application received on or after December 1 would be processed as per new criteria mentioned and processing of applications would be done along with old applications. Col. Sandhu added that despite increase in investment criteria and net worth of program, Canada’s federal immigrant investor program has lower limits on investments in comparison to other countries like Australia, UK, New Zealand, USA, etc.

“All the investors aspiring to grow their business globally should make the most and apply as per the new guidelines at the earliest,” he advised.