Immigration To Canada

The federal government of Canada is contemplating to launch a new Immigrant Investor Program which will be specifically targeted to attract exorbitantly high net worth individuals, seeking for Immigration to Canada.
According to John McCallum, the Immigration minister of Canada, this new program would grant permanent residence status to applicants against a substantial investment amount. He further stated that if this program could actually aid in generating major jobs and investment in Canada then he would seriously consider initiating this fresh Investor program.
In 2014 the Canada Immigrant Investor Program (CIIP) was eliminated by the Harper government, disregarding the soaring number of 15,000 applicants, which were mainly Chinese.  The conservative government then reinstated the Immigrant Investor Venture capital Pilot Program which has been an ineffectual attempt to replace the previous one and has failed to generate a lot of applicantions as a result of improbable terms and conditions.

The implied provisions of the new Federal Investor Immigration Program

• A possible investment requirement between the ranges of CAD $1.5 million to $2 million which is a very competitive investment in comparison to similar investor programs.
• There is no minimum net worth requirement which makes this program more appealing and easier to apply for the investor. This is consistent with the industry.
• The asset classes are to be chosen by the investor, being consistent with the industry.
• This investment is exclusive of any residential real estate, and hence averts concerns of real estate bubbles in famous geographical regions.
• Requirement for strict due diligence and compliance which will be executed by expert third parties.
• A stipulation of $20,000 as processing fees, plus supplementary fees for accompanying dependants.

This program, if implemented, will play a crucial role in boosting immigration to Canada because other investor programs around the world, including the very popular US EB-5 program, have greatly helped in flourishing the economies of their relevant countries by attracting investment worth billions of dollars, leading to a full transformation of some of the major American cities in downtown areas.
Canada, on the other hand, has suffered as a result of missing out on these investment dollars since the shutting down of the CIIP. The commencement of this program with carefully studied conditions, will inject the much-needed cash flow into this country. It would also eradicate the controversy over the successful Quebec Immigrant Investor Program (QIIP), which has admitted a record number of 5,000 applicants in the year 2015 and grants Canadian permanent residency status in return of an investment of $800,000 for a five-year period.

Eligibility requirements for QIIP:

A personal net worth of $1.6 million which should be obtained legally.

• Two years of suitable management or business experience within the five years preceding the application.
• An investment of $800,000 for a period of five years bearing no interest. Money invested is returned at the end of the period.
• The intention to permanently settle in the province of Quebec

There have been a lot of queries regarding the prices of houses in Vancouver and Toronto, which are two of the biggest cities chosen by applicants to settle into once they obtain Canadian visa through immigration to Quebec. Moreover, some questions have been raised about the benefits of these investments only being enjoyed by Quebec city, whereas the other provinces have to work around these rich individuals residing in their cities. Thus, all of these concerns will be sorted out if the Liberal government takes the decision to introduce this new federal immigrant investor program.
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