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Monday, April 16, 2012

The Globe and Mail - Entry to Canada to cost wealthy foreigners more

The Globe and Mail reported over the weekend that under proposed modifications to Canada's investor class of economic immigration, Jason Kenny wants to double the price of admission.

This was a proposal that first came to light a few months back, and now, like all things immigration of late, the Harper government and their new majority are seeking to hit the gas on legislation to enact their new policy ideas.

Again, it looks like those who have waited patiently under the current programs are likely to be thrown under the bus. This time it's 25,000 wealthy foreigners (totalling over 90,000 people when you include their dependants) who are at risk. Their problem? Apparently they aren't wealthy enough. Instead of being ready and able to drop $800,000 into Canada, new investors would have to be ready to drop double that - $1.6 million.

It's like Canada sold you a ticket to ride, and now, when they think someone else is willing to pay more, they want to refund your money so they can sell the seat to someone else. Kenney believes the current requirements for investment are, to paraphrase, "massively under-priced".

With all the changes the Harper government are trying to make across all aspects of the immigration system, as well as their staff reductions introduced in the current budget, you have to believe that current applications will be further delayed if not suspended. Imagine being an immigration official trying to administer this major transition in policy?

It's a challenging time for would-be immigrants to Canada.

Read the article at The Globe and Mail here    


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