Canadian Immigrant Investor Program
Encyclopedia
Created by the federal government to promote the immigration of business people and their families, the Canadian Immigrant Investor Program (CANIIP) enables qualified investors to obtain permanent resident status in Canada. Under the program, successful applicants and their families receive permanent and unconditional Canadian resident visas and are then eligible to obtain Canadian Citizenship.
The Canadian Immigrant Investor Program is one of the most popular investor immigration programs
(IIP) in the world but its requirements weren't changed since its inception and it had become one of the least expensive ones. As of June 26, 2010, the qualification requirements were doubled and the program was briefly suspended while the new changes come into effect. The new updated program was reopened on December 1, 2010.
Currently the program has a severe backlog, with a potential wait time of 12 years. As per a story in The Toronto Sun, Jim Versteegh, a federal immigration program manager at the Canadian consulate in Hong Kong, there are about 22,491 millionaire investors worldwide who’ve applied and are waiting to come to Canada..
Will applicants weigh the alternative options of waiting for the backlog to clear (which may take up to 12 years) - or look at other Immigrant investment programs, the impact remains to be seen. But some analysts are predicting a swing away from Canada to other destination countries. How much of this swing happens will depend on the awareness about other investor immigration programs..
The Canadian Immigrant Investor Program is one of the most popular investor immigration programs
Immigrant investor programs
Immigrant Investor Programs are set forth by countries to attract foreign capital and business people by providing the right of residence and citizenship in return....
(IIP) in the world but its requirements weren't changed since its inception and it had become one of the least expensive ones. As of June 26, 2010, the qualification requirements were doubled and the program was briefly suspended while the new changes come into effect. The new updated program was reopened on December 1, 2010.
Currently the program has a severe backlog, with a potential wait time of 12 years. As per a story in The Toronto Sun, Jim Versteegh, a federal immigration program manager at the Canadian consulate in Hong Kong, there are about 22,491 millionaire investors worldwide who’ve applied and are waiting to come to Canada..
Will applicants weigh the alternative options of waiting for the backlog to clear (which may take up to 12 years) - or look at other Immigrant investment programs, the impact remains to be seen. But some analysts are predicting a swing away from Canada to other destination countries. How much of this swing happens will depend on the awareness about other investor immigration programs..