MONTREAL, CANADA -- (Marketwire) -- 04/04/12 -- On March 21, 2012, government authorities imposed a 2,700-application quota for the Immigrant Investor Program until April 2013. This maximum number of applications represents only half of the regular file intake in a year.
According to experts, the 2,700-application cap will be reached by mid-May 2012. In the first ten days after this announcement, 475 files were received. For the updated figures, please visit: http://www.immigration-quebec.gouv.qc.ca/en/informations/applications-received.html. Immigration authorities are expecting an overflow of files, mainly from China, as the number of applications will increase dramatically in the coming weeks.
Currently, eligible applicants must have a minimum of net worth of CAD$1.6 Million, 2 years of management experience, and deposit CAD $800,000 in an authorized Canadian financial institution for a period of 5 years.
Once the cap is full, the eligibility criteria for the Immigrant Investor Program will likely change. The official announcement will take place in July 2012 but it seems that the financial requirements will double. This decision was made to shorten the processing times of both current and new files.
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