Citizenship and Immigration Canada (CIC) has recently announced that the federal Immigrant Investor Program (IIP) is now closed as 700 complete applications have been received at the Centralized Intake Office.
The new cap of 700 IIP applications per year was introduced through CIC Ministerial Instructions, which came into force on July 1, 2011 (see Green and Spiegel LLP News, June 27, 2011). The cap will reset on July 1, 2012, unless CIC indicates otherwise in future Ministerial Instructions.
The cap does not apply to the Quebec Immigrant Investor Program or the immigrant investor programs available under Provincial Nominee Programs.
For further information on the requirements and process in applying for permanent residence under Canada’s various economic immigration programs, including the IIP, please contact the immigration law specialists at Green and Spiegel LLP.