Canadian immigration minister Jason Kenney has announced that the Canadian immigrant investor program is to be expanded in a bit to ease the economic pressure brought on by the credit crunch.

The programme, which allows prospective migrants to invest a redeemable bond of $400,000 (£223,400) for a five year period, thereby guaranteeing permanent residence, is a popular choice among more wealthy migrants, and the government is now looking to maximise capital investment via Canadian immigration.

“The Canadian government will soon announce changes in the immigrant investor program so that we can leverage it better as a source of capital inflows into the country in these recessionary times. The changes will make the program more attractive for the investors, who are looking at immigrating to Canada through this route, as well as for the Canadian government,” Mr. Kenney said.