Improvements in Canada Federal Investor Program—Online consultations launched
Canada, 1st August: Canada immigration department has launched an online campaign to get public views with regard to reforms required in the federal immigrant investor program.
This was revealed by CIC(Citizenship and Immigration Canada).
Inputs invited for federal immigrant investor program—Reforms to Canada immigrant investor program will be dependent on the views of Canadians. This will be due to the fact that CIC will take any final decision after analysis of the views of Canadians.
Aim of such online consultations is to improve IIP(immigrant investor program).
Speaking about the move, Canada immigration minister Jason Kenney said Canada needs to stand out globally in terms of attracting best foreign talent and foreign investments.
Canada needs to introduce desired changes to its immigration processes from time to time. Only then can the nation benefit from foreign investments, affirmed Kenney.
Aim of consultations--Consultations aim to get creative suggestions from public and stakeholders to enable the CIC ensure maximum benefits to Canadian economy, Kenney maintains.
For this, consultations aim to--
• Chalk out best ways to deliver Canada immigrant investment program while keeping the costs under control;
• Attract foreign investors possessing skill-sets, funds and experience for successful integration in Canadian economy;
• Help Canadian economy reap maximum benefits from immigrant investments. September 4, 2012 is the last date for providing suggestions to the immigration department regarding changes needed to Canada immigrant investor program.
Canada immigrant investor program—Canada immigrant investor program or IIP is a route for immigrant investors to gain Canada permanent residency.
Of course, all such foreign investors must fulfill certain eligibility conditions for becoming Canada permanent residents.
This includes the requirement of making an interest-free loan of $800,000 for a period of five years to Canadian provincial and territorial government for undertaking tasks of economic growth and development.
It may be mentioned that acceptance of any new applications for Canada IIP has been halted temporarily by Canada with effect from 1st July this year.
This is for allowing a thorough review of the immigrant investor program. Once, Canada immigration department begins accepting fresh applications for IIP, it will accept between 5,500 and 6,000 foreigners to come and invest here under Canada Business category.