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.
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.
Non-Canadians must submit either a Notification or an Application for Review of the investment unless a specific exemption applies.
