Hi everyone,
This is in the news today:
(Google translate from French)
Québec suspends its immigrant investor program
The retention rate of immigrant millionaires who benefited from this program is only 16%.
PHOTO: ISTOCK
Romain Schué
Posted yesterday at 21 h 07
The Legault government has decided to suspend, until July 1, 2020, its controversial immigrant investor program, which ultimately results in permanent residence in Canada.
This program was reserved for foreign millionaires or billionaires, who, depending on their financial means, could receive a Quebec selection certificate (CSQ). A total of 1900 places was awarded by Quebec.
To be eligible, a foreign candidate had to have a net worth of at least two million dollars "obtained lawfully," says the Government of Quebec.
In addition, these people, who must intend to settle in Quebec, had to make a five-year loan of $ 1.2 million to Investissement Québec. At the end of this investment, this amount, without interest, was returned to the candidate, who could apply for permanent residence.
According to documents consulted by the CBC, the vast majority of applications received in this program come from China, far ahead of nationals from Iran, Bangladesh, Vietnam or the United Arab Emirates.
Ghost immigrants
Numerous anomalies have been identified in recent years and "the government's desire" is to "revise" this investor program.
An investigation report , in September 2018, also shed light on these ghost immigrants, who rarely set foot in Quebec. These candidates would have used this program primarily to enter the country and make financial investments.
According to the Immigration Department, the attendance rate at the beginning of 2019 of immigrants selected in this category between 2008 and 2017 was only 16%.
https://ici.radio-canada.ca/nouvelle/1367952/immigration-quebec-millionnaires-chine-legault
This is in the news today:
(Google translate from French)
Québec suspends its immigrant investor program
The retention rate of immigrant millionaires who benefited from this program is only 16%.
PHOTO: ISTOCK
Romain Schué
Posted yesterday at 21 h 07
The Legault government has decided to suspend, until July 1, 2020, its controversial immigrant investor program, which ultimately results in permanent residence in Canada.
This program was reserved for foreign millionaires or billionaires, who, depending on their financial means, could receive a Quebec selection certificate (CSQ). A total of 1900 places was awarded by Quebec.
To be eligible, a foreign candidate had to have a net worth of at least two million dollars "obtained lawfully," says the Government of Quebec.
In addition, these people, who must intend to settle in Quebec, had to make a five-year loan of $ 1.2 million to Investissement Québec. At the end of this investment, this amount, without interest, was returned to the candidate, who could apply for permanent residence.
According to documents consulted by the CBC, the vast majority of applications received in this program come from China, far ahead of nationals from Iran, Bangladesh, Vietnam or the United Arab Emirates.
Ghost immigrants
Numerous anomalies have been identified in recent years and "the government's desire" is to "revise" this investor program.
An investigation report , in September 2018, also shed light on these ghost immigrants, who rarely set foot in Quebec. These candidates would have used this program primarily to enter the country and make financial investments.
According to the Immigration Department, the attendance rate at the beginning of 2019 of immigrants selected in this category between 2008 and 2017 was only 16%.
https://ici.radio-canada.ca/nouvelle/1367952/immigration-quebec-millionnaires-chine-legault
