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ARTICLE · 15 JANUARY 2013

New 2013 Investment Canada Act Review Threshold

McCarthy Tétrault
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Industry Canada has announced that the Investment Canada Act (Act) threshold for 2013 that applies to most direct acquisitions of Canadian businesses by non-Canadian investors from World Trade Organization (WTO) member countries is $344 million (an increase from last year’s $330 million threshold).

CanadaCorporate/Commercial Law
Oliver J. Borgers
Oliver J. Borgers
Michele Siu
Michele Siu
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Industry Canada has announced that the Investment Canada Act (Act) threshold for 2013 that applies to most direct acquisitions of Canadian businesses by non-Canadian investors from World Trade Organization (WTO) member countries is $344 million (an increase from last year's $330 million threshold). The threshold applies to the gross book value of the target's assets. Note that under the Act, a non-Canadian includes a Canadian-incorporated entity that is ultimately controlled outside of Canada.

The lower threshold of $5 million continues to apply to direct investments that relate to cultural businesses or where none of the non-Canadian parties comes from a WTO member country.

On a date still to be fixed, new regulations under the Act will come into force, dramatically increasing the $344 million threshold for investors (other than state owned enterprises) from WTO member states to $600 million, $800 million and $1 billion over the next six years, with further

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