Immigration experts are of the view that the Canadian Immigrant Investment Program needs a thorough fixation as to allow the entry of genuine applicants in the nation. These people should have the worth to enhance the economy of the nation, further providing working capital in different Canadian businesses.
Experts believe that ample focus has not been given on the importance of Immigrant Investor Program. Unfortunately a majority of immigrants who are coming to the nation are not chosen for their ability to provide ample financials to Canadian businesses but for other reasons.
Statistics (from various sources) say that in the year 2009, some two and a half lakhs immigrants were selected by the Canadian economy and only some hundreds were selected for the same purpose. It clearly depicts the amount of enhancement done by the immigrants towards the Canadian economy.
It is NOT that the Canadian government has any interest in taking money from the investor class applicants. In fact a majority of the money doesn’t come from overseas, rather borrowed by different financial institutions present in Canada itself.
Before June 2010, it was mandatory for the applicant to show a personal net worth of $800,000 and had to give $400,000 of it as an interest-free loan to the government. The same money is returned back to the applicant after utilizing it for five years. In return, they are given PR status and other such benefits associated with it.
Recently Minister Kenney announced some changes in the financials, stating that the stakes would be doubled. The reason behind making these changes was that Canada is getting triple the amount of applications in this category as compared to the one which they are approving.
Here is what the Canadian government needs to have a fixation in the Immigrant Investment Program. Why is that so less number of applications is approved under this category?
- Is the number of immigrants in the investor category accepted by the Canadian government required to INCREASE? Statistics say that compared to Investors, the number of refugees, sponsored applicants and applicants accepted on the basis of humanitarian grounds are much more as compared to the former.
- Can there something to be done as far as the processing time is concerned. Doe the delay or the costly and tedious documentation process discourage investors from applying?
- Are the selection criteria too rigid?
Whatever is the case, amendments are needed for sure. If you are interested in applying for Canadian Immigrant Investment Program, shoot a mail at [email protected] and get rid of your dilemma.