November 1, 2001

The impact of the terrorist attacks of September 11 on the Immigrant Investor program
Many people have contacted us in recent weeks to find out how the tragic events of September 11 may affect the Immigrant Investor Program. We are now in a better position to assess those consequences.

The first consequence obviously has to do with tighter control over entry into Canada. As in the U.S., the Canadian government has made a number of changes designed to increase protection against terrorism. Borders are now being more heavily patrolled and all immigration applications are coming under very close scrutiny.

You can therefore expect it to take significantly longer for Canadian visas to be issued under the Immigrant Investor program – indeed, delays are already being noted. How long is this likely to last? No doubt well into the foreseeable future.

The second major consequence is that, for the same security reasons, we can expect more Immigrant Investor applicants to be refused than in the past. Not that the program has proved an easy entry for foreign terrorists! In fact, quite the opposite is true. However, the justifiably extreme caution now being exercised by the Canadian bureaucracy will probably lead to unfortunate collateral damage, and some very worthy applications may nonetheless be turned down.

These new circumstances argue eloquently in favour of the LBG Canada program. LBG Canada is one of the few Immigrant Investor Program managers to guarantee the full refund of the applicant’s initial investment, should a Canadian visa not be issued. With us, the investor’s deposit cannot be lost.

The third consequence of recent events is that they have highlighted the credibility and rigorous selection process of the Immigrant Investor Program, not put it in question. In our opinion, the program could easily be used as a model for immigration procedure. In fact, experts are currently examining the program in the process of developing new Canadian policy on immigration security.

Here is a quick reminder of how applications are reviewed. After submitting an application to a Quebec immigration office outside the province, the individual interested in coming to live in Quebec must then disclose the source of his or her personal assets. If the application meets Quebec immigration criteria, a Certificate of Selection for Québec (CSQ) is issued. The application is then forwarded to the federal government, which requires that the applicant and all family members undergo a thorough medical examination. Finally, the Canadian Security Intelligence Service (CSIS) checks that the applicant has no criminal record and is not wanted by the police anywhere. If all goes well through these stages, a visa is issued by the Canadian government after a waiting period that, before the events of September 11, lasted anywhere from 18 to 24 months, but which could be longer now.

Still, all interested parties should rest assured that, despite the new security measures, Canada’s Immigrant Investor Program has lost none of its credibility or its value. On the contrary: its status is more solid than ever.

For more information, please feel free to contact us! gocanada@videotron.net.