One of the questions that I am most frequently asked is “where does British Columbia’s money from the Immigrant Investor Program go?” Indeed, at least two people today e-mailed me this question after they read an article in the China Daily about how $1.6-billion left China due to emigration under various investor scheme. The answer… Continue Reading
Category Archives: Immigrant Investor Program
MI-3 Introduces Caps to the Federal Investor Program
On July 1, 2011, the third set of Ministerial Instructions came into affect. Dubbed M-3, the changes introduced have certainly grabbed the attention of what one immigration lawyer calls the oligarchy of overseas consultancy firms that specialize exclusively in investor applications. Under the changes, a maximum of 700 new federal Immigrant Investor applications will be… Continue Reading
Saskatchewan Government Growth Funds
If you have been told that you owe money for a loan made pursuant to the Saskatchewan Government Growth Fund please contact us. … Continue Reading
A Caution on Switiching from $400,000 to $800,000
The Canadian Immigrant Investor Program re-opened on December 1, 2010. The requirements for the program have increased. Applicants will now have to prove a personal net worth of CAD 1.6-million (an increase from the previous $800,000) and make a passive $800,000 (an increase from the previous $400,000) investment with the Government of Canada.… Continue Reading
Immigrant Investors and the $120,000 Myth
The “common scenario” under the old immigrant investor program was that investors would pay financial intermediaries $120,000 to finance their loans to the Canadian government. At least 90% of immigrant investors paid this amount. However, those immigrant investors that paid $120,000 to the financial institution paid too much.… Continue Reading
Live in Care Givers, PNP Acceptance Rates
According to CIC, during the past 12 months the approval rate for different application streams for permanent residence has been as follows: Immigration Category Approval Rate Economic Quebec Skilled Workers 97% Federal Skilled Workers (Pre-C-50) 57% Federal Skilled Workers (Post C-50) 21% Entrepreneurs 76% Self Employed 45% Investors 82% Provincial Nominees 96% Live-In-Caregivers 99% Canadian… Continue Reading
Immigrant Investor Fined For Tax Evasion
On July 15, 2010, the Tax Court of Canada declared that S Korki, an Immigrant Investor from Iran, would have to pay gross negligence penalties for failure to fully disclose income. In the 2002 and 2003 taxation years, Mr. Korki declared a net income of $19,100 and $22,312 respectively. After carrying out a Net Worth… Continue Reading
Important Tip for Immigrating to Canada
One of the most complicated topics in immigration law is determining when procedural fairness will require an immigration officer who is assessing an application to seek clarification in the form of a fairness letter or interview. The breadth of procedural fairness must be adapted to the context in which it arises (Baker, SCC, 1999). When… Continue Reading