Canada: Changes to the Federal Investor Program
Description
On 26 June 2010, Citizenship and Immigration Canada (CIC) stopped accepting applications for the Federal Investor Program until proposed regulatory changes are implemented. CIC expects the changes to become law in the fall of 2010.
As was announced in the Canada Gazette on 26 June 2010, CIC proposes the following changes to the Federal Investor Program:
- Increase in minimum personal net worth. The minimum personal net worth of an applicant shall be raised from CAD 800,000 to CAD 1,600,000.
- Increase in minimum investment. The minimum investment of an applicant shall be raised from CAD 400,000 to CAD 800,000.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: No
Date of inception:
GTA Evaluation: Amber
Source:
Citizenship and Immigration Canada. (28 June 2010). Changes to the Federal Immigrant Investor Program will bring to Canada more resources to fund economic development and job creation initiatives. Available at http://www.cic.gc.ca/english/department/media/backgrounders/2010/2010-06...
Government Response:
- 337 reads
