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UAE ranks 9th in Canada investment immigration

posted on 22/04/2002: 829 views

The UAE ranks ninth among countries from where Canada is attracting investors, according to Citizenship and Immigration Canada (CIC), the federal department dealing with immigration. The UAE also ranked ninth in overall immigration - investors, entrepreneurs and self-employed professionals - since the Immigrant Investor programme (IIP) was launched in Canada in 1986. According to CIC reports, the programme has yielded in more than US$5.7 billion worth of investments taking place in Canada, while the number of people coming under the scheme accounted for nearly six per cent of the total immigrants.

It also said that applicants under the Federal Immigrant Investor Programme (IIP) are required to make an investment of CAN$400,000, payable to the Receiver General for Canada. The investment is subsequently allocated to participating provinces and territories in Canada, which use the funds for job creation and economic development. (The Khaleej Times)


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