ARCHIVED – Operational Bulletin 213 - June 28, 2010
This section contains policy, procedures and guidance used by IRCC staff. It is posted on the department’s website as a courtesy to stakeholders.
Federal Immigrant Investor Program Applications: Administrative Pause
This Operational Bulletin has expired.
Purpose/Issue
An administrative pause for applications under the federal Immigrant Investor Program (IIP) took effect June 26, 2010.
Background
The IIP seeks to attract experienced business people to invest in Canada’s economy.
The volume of applications made under the federal IIP has grown exponentially in recent years. This recent surge in federal IIP applications has resulted in a growing inventory and increased processing times, both of which threaten Canada’s ability to remain competitive with other countries in attracting highly mobile, high net worth individuals to invest in Canada’s economy.
Proposed regulatory amendments to the federal IIP, anticipated to come into force in Fall 2010, will increase the investment and personal net worth thresholds of the IIP. These regulatory changes are intended to reduce the volume of incoming applications, refocus the program criteria to better attract higher quality applicants and facilitate efforts to draw down the existing federal IIP inventory.
In order to stem the flow of federal IIP applications until such time as the proposed regulatory amendments come into force, an administrative pause on new applications is being implemented through Ministerial Instructions.
Processing Instructions
Federal IIP applications postmarked or received by visa offices prior to June 26, 2010, should be accepted and processed under existing regulations according to their place in the queue.
Federal IIP applications postmarked or received by visa offices on or after June 26, 2010, will not be accepted and should be returned to the applicant.
The administrative pause pertains only to applications under the federal Investor Class. Receipt and processing of applications for permanent residence for investors selected by Quebec under its business immigration program is not affected.