The federal government of Canada announced launching of online consultation service to make its immigrant investor program more progressive and captivate more people. Being part of Canada’s Economic Action Plan 2012, the online consultation service is aimed to provide a strong base for the immigrant’s investor program and fulfill economic needs.
Jason Kenny, Immigration and Multiculturalism Minister, revealed that the current policy needs a revision to sustain in tough competition by various countries across the world.
“To make our existence as a passive player and bit global competition, revision of the immigrant investor program is quite necessary that helps in creating dynamic investment opportunities and enables potential investors to avail benefits of the Canadian economy,” said, Jason.
The Canada Economic Action Plan came with an announcement of revising the investor immigrant program to target more passive investors in the country and thus creating more investment opportunity. Considering this, CIC (Citizenship and Immigration Canada) is now engaged in inviting online submissions from the public and stakeholders on various issues, listed following.
- Create more economic benefits to entice a foreign investor and bring more investment capital in the country
- Make the investment program more cost-effective and efficient
- An effort towards attracting foreign investors who can actively participate in economic development
While explaining the need of online consultation for immigrant investor program, CIC asserted the new step will be helpful in increasing economic benefits and attracting wealthy overseas investors and thus will also help in bringing investment capital in Canada.
At present, the Canadian Immigration Investor program lets a foreigner avail the great privilege of permanent residence, but for that they need to satisfy all the major requirements and invest CAD$800,000 to territorial and provincial government for five years.
“I will appreciate important suggestion and effective ideas from the business community regarding enhancing economic benefits and improving the program,” said, Jason.
The online consultation is set to be implemented by September 4, 2012.
