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Buying your way into Canada may get pricier

posted Apr 20, 2012, 8:29 PM by Milorad Borota   [ updated Apr 20, 2012, 8:30 PM ]
Bill Mann's Canada Archives March 20, 2012, 12:02 a.m. EDT MarketWatch
Commentary: Canadian government looking to cash in on rich immigrants

Kenney says the new program and new financial requirements will be in place by the end of the year.

Both Australia and the U.S. have similar programs, with the buy-in at $1 million, another reason many are saying Canada’s C$800K is way too low, too good a deal. Plus, the U.S., program requires actual investment, not just a deposit. The U.K. requires immigrant investors to cough up the equivalent of about C$1.6 million CDN, another reason Kenney says Canada needs to raise its “price point” for permanent-resident visas.

“To be honest,” he said in a recent interview, “it’s not an investor program, it’s a permanent residency for a loan.” He added that what Canada really needs is a real investor program, one that brings in actual capital to help create jobs in Canada.

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