The Investment Canada Act (the Act or ICA) ensures that the most significant investments into Canada by non-Canadians benefit Canada's economy. The Act also allows the government to review foreign investments of any size to ensure they are not harmful to Canada's national security.
The Act aims to balance a positive investment climate to promote economic prosperity while safeguarding Canada from foreign actors that attempt to gain ownership or control of sensitive Canadian goods, technology, infrastructure, or personal data for purposes that could be injurious to Canada's national security.
Who does this apply to?
All non-Canadians who acquire control of an existing Canadian business or who wish to establish a new Canadian business are subject to this Act.
About the ICA
Forms and guidance
For more information
- The net benefit review thresholds have been updated for 2024.
- The Investment Canada Act 2022-23 Annual Report is now available. Previous editions of the Annual Report are available in the archives.
- New functionalities were added to our website including a searchable database of approved decisions and completed filings and an ICA timelines calculator.
- ISED recently disclosed three decisions resulting from national security reviews under the Investment Canada Act. This is a change in procedure. See the FAQ for more information.
- On October 28, 2022, the Minister announced a new Investment Canada Act policy related to foreign direct investment in Canadian Critical Mineral sectors.
- Effective August 2, 2022 a new voluntary filing mechanism will come into force allowing non-Canadian investors to get certainty under the ICA, as well as to extend the time for review absent a filing. See FAQ for further guidance and Forms to submit a voluntary notification.