Immigration Investor Program in Canada
Investor program for Immigrants in Canada
An individual entering Canada through immigrant Investor route is qualified as Permanent Resident of the nation.
Along with the individual even the family also attains the same status. The approved candidates make huge investments hence contributing majorly to the Canadian economy.
Investment coming through this program is a kind of five year program and a loan at zero interest provided by the provinces to the government.
These funds are used to create jobs another economic development. Capital investments are made in clean technology, public sector infrastructure and loans are provided to develop small businesses in Canada too.
The provinces have to guarantee the repayment of the investments taken.
Currently, the provinces are using about $ 2 billion under five year plan for developing various sectors.
Some of the provinces participating in this program are British Columbia, Manitoba, Ontario, Nova Scotia and a few more.
Development in the Program:
In the recent past changes have been brought in the above mentioned program by Immigration Minister, Jason Kenney. According to the new changes the Investor program has been doubled. This is equivalent to a personal net worth of CAD $ 1.6 million.
The investment required for finalizing acceptance of an individual has become CAD $ 800,000.
Ever since these changes were introduced in 2010 no new applications under this program have been accepted. The Federal Immigration Minister has been formulating policies to implement the changes as soon as possible.
On contrary to this, Quebec government continues to accept applications under Immigrant investor program.
The on-going wait:
Even after so many months of Kenney’s announcement Canadian Government has still not been able to implement the changes. Quebec has to stop accepting applications so that there is synchronization across the nation.
The doubling of investment amount seems to be difficult for the immigrants looking at the global economic crisis.
The new Investor program may divert the immigrants to some other country than Canada. The business people who invest money in Canada have very many other options too. Any delay will surely tarnish Canada’s reputation. This will greatly impact the economic growth of Canada.
Immigrant Investors are losing confidence in Canada.
To gain the confidence of Immigrant Investors it is very important for the Canadian government to rethink and then implement the changes so that they do not lose upon the potential investors who contribute effectively to the nations’ economy.