Immigration Could Cost More

In a story in The Vancouver Sun today, the Canadian Immigration Minister say he thinks that immigrants that are applying for permanent residence status through the investor program in Canada are not paying enough.

 

“We think that program has been massively underselling Canada,” Kenney told The Sun’s editorial board on Friday. “There are millions of millionaires around the world who would like to immigrate to Canada and we could do much more in generating economic benefit from those who come in through such a program.”

The article goes on to explain:

Canada is under-pricing this program relative to other countries, noting that applicants through this country’s immigrant investor program contribute an $800,000 repayable loan to the government in exchange for immediate permanent residence. Canada also requires a net worth of $1.6 million, obtained legally. Countries such as the U.S. and the U.K. offer temporary residency with a pathway to permanent residency, provided certain conditions are met, for $1 million or more, Kenney said.

Canada flag

If this new immigration process goes into effect in Canada, new applicants could see themselves paying significantly more for the privilege of obtaining a permanent residency card, or if like the law ends up looking like the ones in the U.S. or the U.K., new immigrants to Canada may pay more for a temporary residency status in Canada, with further steps to follow once the temporary visa runs out.

Immigration Lawyers in Vancouver can help those wishing to immigrate to Vancouver to start this process before any new laws come into effect. If you would like more information on the process of immigrating to Canada and Vancouver specifically please contact one of our immigration experts in Vancouver.

Immigrant investors must pay more for privilege of Canadian residence minister Vancouver Sun

Any information provided here does not constitute legal advice and is intended for general information only. Should you require legal advise, you are encouraged to contact a lawyer directly. All blog postings are public and are not subject to solicitor/client confidentially. Case results depend on a variety of factors unique to each case, and case results do not guarantee or predict a similar result in any further case undertaken by the lawyer.

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