Friday, July 16, 2010

CANADA IMMIGRANT SCHEME SUSPENDED

Canada Immigrant Scheme Suspended due to double investment requirements.Canadian immigration  also increases significant investment requirements for immigrant investor program:
  • A personal net worth of $ 1.6m instead of $ 800,000
  • The investment requirement of $ 800,000 instead of $ 400,000
Canadian immigration feel that the investment requirements are too low and have not changed over ten years. The current system attracts more applicants than are needed every year under immigration plan. This resulted in times of increased processing.

Immigration Canada will not be accepting any any more applications for Canadian immigrant investors until the new system. This is to prevent an increase in applicants prior to the change in immigration requirements.

Canada immigrant scheme
Immigration Minister Kenney had the following to say about the immigrant investor program:

"Canada needs immigrants investor."

"The changes necessary to keep the program competitive with other countries to Canada, and maintain a changing economy."

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