Recently, the Canadian federal immigration department and the Quebec immigration authorities have been discussing the final price increase plan and implementation deadlines. After final negotiations among all parties, the proposed price increase has essentially emerged:
According to reliable information, the final price increase plan is set as follows:
Applicants will be required to possess 1.6 million Canadian dollars in assets (previously 800,000 CAD) and make an investment of 800,000 CAD upon success. If the loan option is utilized, the amount may be 200,000 CAD (previously 400,000 and 120,000 CAD, respectively). Asset requirements have increased by 100%, and the investment amount has increased by more than 166%. It is highly likely that the price increase plan will be implemented in the autumn of this year.
However, concerning issues have begun to emerge recently. Since the price increase information has become essentially confirmed, many applicants who were previously observing the situation have recently initiated their immigration applications. The federal immigration department received a large volume of new applications in the first quarter of this year, with over 1,200 applications received in March alone. The sudden increase in workload has significantly slowed down application processing. The time to receive a federal investment immigration file number has slowed from the previous 1-2 months to the current 2-3 months or longer. Therefore, without an appropriate solution, it is no longer certain whether new applications will be processed before the new regulations take effect.
Recently, it has even been observed that clients who have submitted immigration applications but have not yet received a file number have begun receiving background check calls from the immigration department. If the background check does not meet requirements, the immigration department will not issue a file number. This move is undoubtedly intended to reduce ineffective applications and achieve a primary screening purpose, thereby reducing the pressure caused by new applications; however, it has further significantly slowed the issuance of file numbers. In addition, the processing speed for clients who have already submitted applications and obtained file numbers is also slowing down further. The latest processing time published on the federal immigration department's website is 40 months, which is nearly 50% slower than the previously published 24-28 months.
We remind all applicants that with the policy changes imminent, it is essential to work with a consulting firm with years of extensive experience when processing investment immigration, in order to formulate strategies to increase application speed and ensure applications are not affected by the price increase. We urge all applicants to cooperate closely with their immigration consultants to eliminate potential risks. There is no doubt that these are significant changes; we encourage all applicants to stay informed and communicate actively with their processing firms.
