This Practice Note discusses the situations where an investment by a non-Canadian in Canada requires an application for review under Part IV of the Investment Canada Act, R.S.C. 1985, c. 28 (1st Supp.) (as opposed to merely a notification). It also discusses the "net benefit" test that must be satisfied in order for an acquisition to be approved, the review process, sanctions for an investment without the necessary approvals and confidentiality of information.