Jun 11, 2014

Investor immigration lawsuit faces uphill battle

While the federal government’s move to cancel an immigration program aimed at attracting foreign investors was unfortunate, a lawsuit recently launched by several applicants is unlikely to succeed, says Toronto immigration lawyer Lloyd Ament.

The Immigrant Investor Program, introduced in 1986, required applicants to have a personal net worth of $1.6 million, and provide a five-year, zero-interest loan of $800,000 to the government, with successful applicants receiving permanent resident status. The program was closed to new applicants in mid-2012 with a view to clearing a backlog of thousands of files, says the Toronto Sun.

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Photography by Tori Rector