Canadian Immigration Minister, Chris Alexander, affirms that affluent Chinese are more than welcome into Canada. Following the withdrawal from the Immigration Investors Program, Alexander made sure to clear any blurred lines in the South China Morning Post in Hong Kong. It was stated that the wealthy Chinese should simply find new ways to enter Canada through the many other immigration programs that are available to them.
The previously cancelled Immigration Investors Program offered visas to business people with a net worth of minimum $1.6 million who were prepared to loan $800,000 to the Canadian government for a period of five years. The difficulty was found in the over-accumulation of eight or nine years in applications by the time the government froze these requests in 2012, most of which were from wealthy Chinese executives.
The problem rested in the potential for fraud, and for people being able to apply for Canadian passports without having the forethought of residing in Canada. Therefore, it should not amaze many people that this program was cancelled, on the basis that Canadian immigration forces have been aiming at eliminating any potential misuse or fraud. This is not to say that rich Chinese should not feel welcome into Canada, Alexander still recommends them to apply under new programs such as Immigrant Investor Venture Capital Fund plan or a business skills option which will be launched in the upcoming year.
- FWCanada is a Montreal-based immigration law firm that provides professional legal services on Canadian immigration. For more tips and updates on Canadian immigration follow FWCanada on Facebook, Twitter, and Linkedin.