The current Immigrant Investor program requires the applicant to have a minimum net worth and invest the required amount with the Government of Canada, which is returned after 5 years without interest. This is a “passive” investment program in so far as the investor applicant doesn’t actively participate in management of the invested amount. The program is ideal for people who have business management experience with limited education and language skills, as it allows them and their families to become Canadians by using their financial resources and help create jobs in Canada.
Apparently, there are so many millionaires across the world willing to invest by applying under the program that the annual quota was filled within 30 minutes last year. Now, Canada feels that it is selling itself short. Ive always said that I believe Canada has been underselling itself through our Immigrant Investor Program, the Minister said.
The immigration department is stated to have inventory of almost 90,000 applications against annual quota of 700 applications. Statistics suggest that the vast majority of approved cases come from Hong Kong (serving residents of Hong Kong, China, Macao, Taiwan, etc.), followed by Taipei (Taiwan, now served by Hong Kong), Damascus (Syria), London (U.K., Bahrain, Kuwait, Oman, U.A.E., Qatar, Saudi Arabia, etc.), and Seoul (South Korea).
making it an active investment
demonstrate job creation
permanent investment with no refund of the invested amount, etc.
Transcend Consultants, who provide services under the program, have alerted their clients and prospective applicants to these expected changes since January through their website and articles. They believe that qualified applicants have a limited window of opportunity to take advantage of the current program before the program is redesigned “to extract more bang for the buck.
Transcend believes that any change to the immigration programs that make the immigration activity more beneficial to the country is welcome. With the above changes, the government should consider ramping up the program intake with higher annual quota.
Transcend Consultants is a full-service Canadian Immigration Consultancy firm, operating from Brampton, Ontario and serving clients globally. Their practice areas cover economic and family immigration programs, and focuses on immigration for business or investment purposes. Their principal consultant, Deepak Kohli, a management graduate with training and wide ranging experience in various Canadian immigration programs fuses his experience with a variety of industries for successful immigration outcomes.