The scheme, as of now, remains suspended with immediate effect, although temporarily, Canada immigration maintained.
The scheme for the immigrant investor program by Canadian immigration will require the following ——-
1. Candidates need show a net worth amounting to $1.6 million rather than the earlier amount of $800,000
2. Also, as compared to the earlier requirement of $400,000, the raised investment requirement for immigrant investor program
to start a company in any part of Canada is now$800,000.
The changes being introduced in the Canada immigrant investor program are due to the reason that the requirements of investments to be made by the immigrants wanting to move to Canada as investors are considered to be fairly low as these happen to be the same as what they were nearly ten years back.
As a result, there is a huge rush of applicants making applications under Canada immigrant investor program causing an increased processing time for Ca nada visa applications by Canada immigration.
Also, the number of applications received by Canada immigration department from different corners of the world is far greater than the
actual number of immigrants required to be allowed into Canada under Canadian immigrant investor program, Canada immigratio
Applications for Canadian immigrant investor program will be accepted by Canada immigration only after the new system comes into effect in the near future.
Meanwhile, the Minister for Immigration and Citizenship Jason Kenney said that there is no denying the fact that Canada needs immigrant investor in the coming times.
He, however, justified the changes and the temporary suspension of Canadian immigrant investor program saying that these are
meant to make immigrant investor program of Canada in line with that of several other nations and also to keep pace with the constantly changing requirements of Canadian economy.
Recently, Canada immigration has also announced an annual cap on the number of skilled workers to be allowed into Canada. This is being done to restrict the issuance of Canada visas to more than the required number of immigrants every year.