Invest CAD$400,000 for five years to acquire permanent residency

In order to deal with the economic downturn, the government is expanding the immigration investor program, under which applicants investing CAD400, 000 for five years with the Canadian government are eligible for permanent residence.

In order to deal with the economic downturn, the government is expanding the immigration investor program, under which applicants investing CAD400, 000 for five years with the Canadian government are eligible for permanent residence.

The minister of citizenship, immigration and multiculturalism of Canada, Jason Kenney, said ET that the program will be made more attractive for high net worth individuals and it will also bring more capital to Canada in the time of recession. The Canadian government created the immigrant investor program to encourage successful foreign business immigrants to bring new and fresh investment to Canada.

Mr. Kenney said when he was in Delhi that the Canadian government will soon announce changes to the immigrant investor program so that the country benefit from it and it proves to be a source of capital inflows into the country in this troubling time. He said that changes will make the immigrant investor program more attractive for foreign investors who are looking to immigrate to Canada in future through this route, and at the same time, it would be beneficial for the Canadian government.

Immigration experts feel that in recent months, growing interest is being observed form HNIs from India in the Canadian investor program. Immigration lawyer Poorvi Chothani said that she feels that Canadian permanent residence rights acquired through the investment category are more attractive for high net worth individuals from India as they have very few limitations. She said that children of investor category immigrants can benefit themselves of preferential fees in educational institutes in Canada.