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The Canada investor program has recently been changed in order to bring it more in line with international realities. Now, the required net worth of the applicant is $1.6 million. Before it was $800,000. The applicant, if accepted, is required to make a 5 year loan to the Canadian government of $800,000 (before it was $400,000). Alternatively, the applicant can pay interest to a Canadian bank of what is likely to be $240,000 (this has yet to be finalised; before the amount was $120,000).
A key distinction for anybody interested in applying for permanent residency under the investor program is that if the applicant makes the $800,000 loan to the government, they will receive this back in 5 years in full, but without interest. If the applicant pays the interest to a Canadian bank, this amount will not be refunded.
Potential investors will have the option of applying under the Federal Program or the Quebec Program. The processing time for the Federal Program is expected to be quicker so that would be a major advantage.
Very high property prices in many countries of the world that investors to Canada apply from is thought to be one of the reasons for the doubling of the respective amounts. In many places people can accumulate a net worth of $800,000 without too much difficulty because of high house prices. In order to make the program more exclusive to successful entrepreneur type people, Canada has seen the need to increase the amount of net worth and investment significantly. Also, they want to bring the investor program in line with countries such as the UK and Australia that have high investment amounts.
These changes are now in effect, and the Federal Program is expected to resume in December. The government will be aiming to process applications within 12 months. This should be achievable, because we can expect to see a drop in the applications for the investor program as many interested applicants will find that they no longer meet the criteria for the program. The business program is going to be an attractive alternative for this group of people, as the required investment is much lower. However, they will have to commit to establishing and managing a business in one of the provinces of Canada.
A key distinction for anybody interested in applying for permanent residency under the investor program is that if the applicant makes the $800,000 loan to the government, they will receive this back in 5 years in full, but without interest. If the applicant pays the interest to a Canadian bank, this amount will not be refunded.
Potential investors will have the option of applying under the Federal Program or the Quebec Program. The processing time for the Federal Program is expected to be quicker so that would be a major advantage.
Very high property prices in many countries of the world that investors to Canada apply from is thought to be one of the reasons for the doubling of the respective amounts. In many places people can accumulate a net worth of $800,000 without too much difficulty because of high house prices. In order to make the program more exclusive to successful entrepreneur type people, Canada has seen the need to increase the amount of net worth and investment significantly. Also, they want to bring the investor program in line with countries such as the UK and Australia that have high investment amounts.
These changes are now in effect, and the Federal Program is expected to resume in December. The government will be aiming to process applications within 12 months. This should be achievable, because we can expect to see a drop in the applications for the investor program as many interested applicants will find that they no longer meet the criteria for the program. The business program is going to be an attractive alternative for this group of people, as the required investment is much lower. However, they will have to commit to establishing and managing a business in one of the provinces of Canada.
