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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.
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.
Canada Launches Blue Blindfold Campaign
According to the Toronto Star, the federal government has taken a page from Ireland, the UK, and the United States, and launched its own version of the Blue Blindfold Campaign. This awareness campaign will urge Canadians to “stop turning a blind eye to potential victims of human trafficking”, and to anonymously report what they see.
Canada’s Ageing Demographics Compared to Other Western Nations
In today’s Daily Reckoning, Dan Denning analyzes the age demographics of numerous Western countries to determine the attractiveness of government treasuries. He summarizes the relationship between aging countries and government finances as follows: Through either low immigration or low birth rates, or a combination of both, aging countries face some grim demographic math. Pension (private and public) pensions are likely to increase even as the tax base shrinks. Taxes go up on younger people. But government borrowing probably increases too, unless benefits get cut. If the borrowing is not from domestic savings (where it would then NOT go to private enterprise) it must be done on global markets at whatever the market price for money is. Mr. Denning presents numerous US Census Bureau charts showing population tendencies for certain Western countries (and Iran). I have reproduced some of these to analyze how Canada compares to other Western countries. The charts show that the anglophone nations tend to not have as noticeable an aging pattern as other developed nations (in this case Italy and Japan). This suggests that our pension “crisis” will not be nearly as severe as what will be experienced in other Western nations. These nations have traditionally not … Read More
Does Party Affiliation Affect Views on Immigration?
Recently, the Conference Board of Canada published a series of articles relating to immigration. One of them, written by Nick Nanos, talks about extensive polling on Canadian opinions regarding immigration. It has been widely quoted in the media that while Canadians approve of immigration, they generally want the numbers to stay the same. I made summaries of four of the seven questions that Mr. Nanos asked respondents. In making the following tables, I merged “% agree” and “% somewhat agree” into one category. I did the same for disagree. The results are as follows: Question 1. Immigration is a key positive feature of Canada as a country? Voter Profile % Agree % Disagree Liberal 87.8 10.5 Conservative 79.6 18.4 NDP 86.9 10.0 Bloc 77.1 22.9 Green 90.5 9.5 Undecided 73.9 21.1 Question 2. In 2008, Canada admitted 247,202 permanent immigrants. Do you think Canada should increase, decrease, or keep the same number of new permanent immigrants each year? Voter Profile % Increase Numbers % Keep Same % Decrease Liberal 21.7 40.0 31.6 Conservative 19.1 38.4 36.3 NDP 29.5 41.4 23.5 Bloc 17.3 47.8 31.1 Green 29.3 45.3 23.5 Undecided 18.6 33.2 36.1 What these two tables indicate is that Liberals … Read More
Decline in Chinese Immigration to British Columbia : 渥京改政策 省推薦名額增
On Tuesday, June 29th, I was quoted in Ming Pao, Vancouver’s largest Chinese daily newspaper. 另一本地移民律師辛湉王(Steven Meurrens)則認為，技術移民及新推出的加拿大經驗類別(Canadian Experience)移民均甚多限制，有意申請人士最好另走他途，他認為PNP仍是移民最快增長點，但許多人對PNP仍認識不夠。 辛湉王 續稱，雖然近日投資移民的投資額及資產額都提高了一倍，但聯邦及省府均有充分信心，認為投資移民金額提高一倍不會影響申請人數，這是政府迅速增加收入的有 效途徑。 My comments were a response to recent Chinese immigration trends to British Columbia. The interviewer wanted to know my response to the following statistics compiled by BC Stats: PRC LANDINGS TO BC Family Refugee FSWP PNP LIC Entrepreneur Investor Other Total 2009 2,269 59 1,702 872 73 101 3,977 322 9,375 2008 1,957 43 3,235 654 32 120 3,712 161 9,914 2007 2,387 90 2,872 369 6 222 2,162 151 8,259 2006 2,412 147 4,795 229 8 259 2,894 186 10,930 2005 2,065 210 7,749 52 3 209 3,306 94 13,688 It is clear that in the 2005 to 2009 period there has been a decline in PRC immigrants to British Columbia. This certainly runs counter to popular myth. Second, that decline can be largely explained in the near collapse of immigrants under the Federal Skilled Worker Program (“FSWP“). This decline has occurred across Canada, and is not limited to China. Third, there has been a huge increase in the amount of immigrants under the Provincial Nominee Program. I was also asked whether I thought that there was a … Read More
The Federal Skilled Worker NOC List
As part of its recent changes to the Federal Skilled Worker Program (“FSWP“), the government has changed which National Occupational Classification (“NOC“) categories are eligible under the program. In short, the FSWP requires that a prospective immigrant either have a job offer or sufficient experience in a designated NOC occupation. These are typically occupations of which there are a shortage of skilled Canadians. The following table shows the eligible NOC categories before and after the changes. It shows which occupations have been removed, and which have been added. NOC Before Now 0213 Computer and information systems managers 0311 Managers in health care 0631 Restaurant and food service managers Restaurant and food service managers 0632 Accommodation service managers 0711 Construction managers 1111 Financial auditors 2113 Geologists, geochemists, geophysicists 2143 Mining engineers 2144 Geological engineers 2145 Petroleum engineers 3111 Specialists physicians Specialist physicians 3112 General practitioners and family physicians General practitioners and family physicians 3141 Audiologists 3143 Occupational therapists 3142 Physiotherapists Physiotherapists 3151 Head nurses 3152 Registered nurses Registered nurses 3215 Medical radiation technologists Medical radiation technologists 3233 Licensed practical nurses Licensed practical nurses 4121 University professors 4131 College and other vocational instructors 6241 Executive chefs Executive chefs 6242 Cooks Cooks 7213 … Read More
加拿大政府宣布将暂时不再接受申请加拿大联邦投资移民计划
计划与家人移民到加拿大的富裕中国人，希望已经听到加拿大政府宣布将暂时不再接受申请加拿大联邦投资移民计划 (IIP)。加拿大政府在今年夏天更改条例后将恢复接受联邦投资移民计划的申请。 加拿大联邦投资移民计划越来越变成成功的商人移民到加拿大最受欢迎的选项。在 2009 年，约 1 万人在该计划下移民到加拿大。 暂停接受申请并不影响这些加拿大当局于 6 月 26 日前收到的申请表，这些将仍会正常处理。 但是，那些尚未能够提交他们申请表的人必须在加拿大政府恢复接受联邦投资移民计划的申请后，确保它们符合新条例的规定。 以前，想用联邦投资移民计划移民到加拿大的申请人，必须拥有丰富的商务经验、 有个人净资产CAD 80 万 (CN 5.2 百万)，和必须愿意作出 40 万元投资 (CN 2.6百 万），这40万将于5年后全数退回给申请人但是没有利息。在各种融资选项中，申请人支付的实际金额是 CAD 80,000 （CN 524,000）至 CAD 120,000元 (CN 787,000） 之间。这金额实质上将确保申请人的加拿大永久居民身份。 在新的联邦投资移民计划的新条例下，个人净资产要求增加了一倍CAD 1.6 万 (CN 10.4百 万)，并且愿意投资CAD 800,000，但是现在尚未有新的融资方案。 这是自 1999 年以来加拿大政府第一次更改联邦投资移民计划的规定，加拿大政府指出条例更改的部分原因是因为亚洲的经济实力。这几年来，由于经济衰退，在个人收入减少的趋势下，亚洲国家尤其是中国却反其道而行的在经济和个人所得方面上升增加。事实上，联邦投资移民计划的新规定，加拿大政府认为亚洲富人用联邦投资移民方式来加拿大的人将会超过北美来的移民，鉴于亚洲人占了联邦投资移民计划的80%，加拿大政府对该地区的持续经济复原能力明显有信心。 过去想要用联邦投资移民计划却不符合新条例的申请人应该要注意有许多其他移民的方法可用。第一，魁北克移民投资计划不会在未来的几个月内更改条例。商务移民的申请人发现省提名的方式更具吸引力，省提名规定申请人需致力于工作或经营某些类型的业务，有很多省提名的新移民到加拿大后开始赚钱。任何想移民但不符合新条例的申请人，应该立即联络他们的移民顾问或律师了解更多有关这些程序的资料。 而这些符合联邦投资移民计划新条例的申请人将受益于更快的处理时间。第一，由于净资产和投资金额的增加，符合条件的申请会减少。此外，一旦恢复接受申请表，新的申请将会和旧有的申请一起审核，这意味着在新条例下的申请人将很快获得永久居民签证。 另一方面，这些努力工作并克服障碍而达到他们的财富的申请人，应该要注意到新的条件提高的缺点。他们应该意识到他们要证明他们个人的净值并披露给加拿大政府其资产来源，在这种情况下，越来越多的新移民被审核纳税资料，他们需要多缴税金给加拿大政府。 富有的移民应该向他们的会计师、顾问或律师谘询有关避税的条例，了解各种法律税务机制以减少披露的资料。他们应该讨论设立信托基金来避开支付庞大的所得税。
Racial Profiling at Citizenship and Immigration Canada?
Charlie Gillis has an interesting article Macleans Magazine today titled “Who Doesn’t Get Into Canada”. The article analyses a government report titled “Social and Economic Outcomes of Second Generation Youth” in the context of broader trends in Canadian immigration patterns. The government report makes many very blunt observations, including that: Chinese and South Asians are the most likely to have university degrees or higher, and to be employed in high-skilled occupations; and Second-generation youth of Caribbean and Latin American origin don’t fare as well. They tend to obtain lover levels of education than native-born Canadian kids and wind up in less skilled jobs. Mr. Gillis uses this information to provide the first discussion (that I have seen) on the effects of Bill C-50. Passed in 2008, this Bill provided, amongst other things, the Minister of Immigration with the power to: Limit the number of new applications; Reject applications; Decide the order in which new applications are processed; Delay the processing of applications from specific missions abroad in order to speed those from others; and Give priority to qualified skilled professionals applying under the economic class categories. Mr. Gillis notes that the impact has appeared to have been increased wait times for … Read More