The annual quota of 700 for the Canadian Federal Immigrant Investor Program, which took effect on July 1, 2011, has been reached for the first year. CIC has published the following information on its official website:
As the Centralized Intake Office (CIO) has received 700 applications that have been reviewed and confirmed as complete and valid, the federal Immigrant Investor Program for this year is now closed. This new regulation became effective on July 1, 2011. In the future, barring any new policy changes, the 700-person quota for the federal Immigrant Investor Program for the next year will reopen on July 1, 2012. The quota mentioned here does not apply to the Quebec Immigrant Investor Program.
Previously, the 700-person quota for the Canadian Federal Immigrant Investor Program was filled within the same day on July 1, 2011, leading a large number of applicants to flock to the Quebec Immigrant Investor Program. There were reports suggesting that the Quebec Immigrant Investor Program would stop accepting applications on August 15, 2011. After confirmation via telephone by Canadian lawyers from Worldway Immigration with the Quebec Immigration Bureau, the news regarding the suspension of applications on August 15 was found to be inaccurate. The Quebec Immigration Bureau stated that there are currently no restrictions on immigration quotas for the Quebec program. However, after analysis, Worldway immigration experts predict that it is only a matter of time before Quebec follows the federal government in tightening quota thresholds, and we advise interested clients to expedite their applications.
For the original text, please refer to:
CIC Official Website:
http://www.cic.gc.ca/english/immigrate/business/investors/index.asp
