Federal Immigrant Investor Program

Immigrant Investor Program

UPDATE (June 4, 2014)

On June 19, 2014,Bill C-31 became law, an applicant still  in backlog of the Federal Immigrant Investor Program and Entrepreneur Program were terminated. (Press Release, Government of Canada, Building a Fast and Flexible Immigration System (Feb. 11, 2014),

Building a Fast and Flexible Immigration System

The reasons given for the termination of the program included that the “current IIP provides limited economic benefit to Canada. Research shows that immigrant investors pay less in taxes than other economic immigrants, are less likely to stay in Canada over the medium- to long- term and often lack the skills, including official language proficiency, to integrate as well as other immigrants from the same countries.” (Id.) The government stated that new pilot programs would be instituted to replace the cancelled programs. (Id.)