Open letter urges Canada to revive investor immigration

A Vancouver-based immigration lawyer is urging Prime Minister Mark Carney to create a new federal investor programme to attract foreign capital and help long-delayed Start-Up Visa applicants already in Canada. The proposal argues Canada can compete for global investors while directing money into productive investments instead of adding pressure to housing.

Why it matters: - Canada is being urged to compete more aggressively for globally mobile investors as it seeks new investment, new markets and more economic independence from the United States. - The proposal says a redesigned investor immigration route could bring in international capital without materially changing Canada’s overall immigration levels. - The plan also aims to give a path to some Start-Up Visa applicants who have waited 12 years or more for permanent residence.

What happened: - Jean François Harvey of Harvey Law Group published an open letter to Prime Minister Mark Carney on October 15, 2026. - The letter calls for a new federal investor immigration programme for Canada. - Harvey says Canada should prioritize investor immigration again, but with a better design than the former Immigrant Investor Program. - The letter was issued from Vancouver, British Columbia.

The details: - Harvey says Canada has strong schools, stable institutions, business opportunities and a high quality of life, which should make it attractive to investors. - The letter says other countries are moving to attract investors, including the United States with its Gold Card, New Zealand with its Active Investor Plus Visa, Portugal and Greece with residence-by-investment routes, and Argentina with plans for a Citizenship by Investment Programme. - The former Canadian Immigrant Investor Program ended in 2014 after concerns about its economic benefits. - Under that program, applicants invested CAD 800,000 for five years and got the money back without interest. - The letter also cites concerns about housing, foreign capital and money laundering. - Harvey argues a new programme should avoid adding pressure to housing segments where Canadians are already struggling. - He says luxury housing markets in Toronto and Vancouver have weaker demand and tougher conditions for sellers. - The proposal calls for a federal programme with a CAD 1 million qualifying investment and a target of about 1,000 principal applicants a year. - Harvey says that level could bring in about CAD 1 billion in international capital annually. - The letter says 1,000 principal applicants would amount to about 4,000 new permanent residents including immediate family members, or roughly 1% of Canada’s current annual permanent resident target. - Harvey suggests the Canada Strong Fund could be used as the destination for qualifying investments. - The proposal says investor capital should deliver a clear economic benefit to Canada. - The letter says international investors bring businesses, customers, suppliers and commercial networks. - Harvey says Canada could set eligibility, security and admissibility rules, while third-party firms handle checks on background, source of wealth and source of funds. - Immigration, Refugees and Citizenship Canada would still make the final decision on each application. - The proposed programme would not create any special exemption from normal permanent-resident residency obligations. - Harvey says Canada could start by prioritizing qualifying Start-Up Visa applicants already in the country who can make the required investment. - The letter says many of those applicants already have support from designated venture capital funds, angel investor groups or business incubators, and some are already building businesses in Canada.

Between the lines: - The letter is a policy pitch, not a government announcement. - It frames investor immigration as a tool for economic growth and capital formation rather than as a large-scale immigration expansion. - By focusing first on Start-Up Visa applicants already in Canada, the proposal tries to reduce political risk while using an existing pool of entrepreneurs who have already passed some vetting. - The letter also reflects a broader argument that Canada can tighten safeguards without closing the door to foreign capital.

What's next: - Harvey says he would welcome the chance to discuss how such a programme could be structured. - Any federal move would require Ottawa to design the eligibility rules, investment vehicle, security screening and residency requirements. - The proposal leaves open whether the government would act on the idea or adapt it in another form.

The bottom line: - Canada is being asked to replace an old investor model with a smaller, stricter programme that channels foreign money into productive investment and gives long-waiting entrepreneurs a possible path forward.