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Canada"s CIC to bring in some changes and introduce a new "investor visa" program soon

May 2014, 05
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Canada CIC changes on investor visa
According to some news reports, Canada immigration minister, Chris Alexander, Canada will provide more details of an immigration investor policy which will be more of a 'immigration investor venture capital pilot policy' within a few months. This policy when implemented will enable those aliens who seek to get Canada permanent residency through a new ‘investor/investment visa’.

This new policy is different from a similar one which Canada had cancelled. Some of the major changes are that in the present policy, the applicant has to invest more than twice the money than in the previous policy. Also, the investment would have to be deposited for a longer period/duration of time, too. These changes follow from some kind of appraisal of the old policy that was followed by Canada. 

According to its own admission, the Canadian authority had stated that there were some major weaknesses in the older immigration investor policy. Thus, in the older immigration policy, the money that was deposited by an applicant was small in size. Also, there were other important reasons too as to why the older program was terminated. For example, many of those applicants who were given the immigrant visas through this scheme did not really move or migrate to Canada. Also, it was also true, though that the number of applicants for this program was so big that there was a huge backlog of applications and the processing times were sometimes touch in geven a decade.

So, to avoid these kind pitfalls, a new program to replace the old Canada investor program is sought to be introduced. According to the new minister all of the detailed information of this proposed/new program have not yet been formulated, etc., but primarily, an applicant would have to invest a larger amount, for a longer duration/period of time and it (the investment) will be used more as/in a venture capital run by private companies rather than parked with the government.

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