Immigration News

Since June 26, 2010, the Federal Investor Program ceased to accept new applications. Citizenship and Immigration Canada is currently working on modifications to the regulations governing the Federal Investor Program. Canadian immigration law allows provinces such as Quebec to select its own immigrants. However, the regulations implemented by the provinces cannot be less restrictive than the ones enforced by the Federal government. Therefore, as of October 13, 2010, Quebec Immigration does not accept new applications in the Investor category in order to proceed with modifications to its own regulations governing its specific Investor program so that it will be harmonized with the Federal Investor program.

The changes have not been announced yet and no specific date has been determined as to when the Federal and Quebec Investor programs will reopen and accept new applications. However, it is strongly believed that the changes will be as follows:

1. The amount of assets to qualify as an Investor will double from CAD$800,000 to CAD$1,600,000;
2. The required amount of investment will double from CAD$400,000 to CAD$800,000.

We will provide additional information concerning both Federal and Quebec Investor programs as soon as the relevant governments will officially announce the regulatory modifications to take place.