ANNOUNCEMENT 26 Jun 2010

In June 2010, the government of Canada announced a change for the labour market access of foreign workers.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

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/2010/2010-06-26b.asp
Citizenship and Immigration Canada New Release, 10 November 2010: http://www.cic.gc.ca/english/department/media/releases/2010/2010-11-10a.asp


Inception date: 01 Dec 2010 | Removal date: open ended

Labour market access

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.

 
Update 25-10-2012:
 
The changes have entered into force as of 1 December 2010.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A