According to Citizenship and Immigration Canada (CIC), investor immigrant approvals in 2014 rose by 7.2 per cent to reach a total of 8,762 approvals, the most since 2011. This is despite federal Immigrant Investor Program (IIP) migrant arrivals falling by 42 per cent when the program was terminated.
Last year's cancellation of the Canadian Immigrant Investor Program (CIIP), highly popular among Chinese investors, was expected to lead to a fall in not just migrant arrivals but housing prices in Vancouver as well. Vancouver is noted as the primary destination of the bulk of Canada's immigrant investors. However figures show that housing prices in Vancouver moved up by an average of 5.8 per cent in 2014, with detached housing recording an increase of 8.1 per cent.
Experts believe these unexpected increases are a result of the increase in wealthy immigrant investors arriving in Canada via the IIP in Quebec which operates independently.
Figures for 2014 show that the Quebec Immigrant Investor Program (QIIP) experienced an increase by 62 per cent compared to the previous year, with Quebec approving as many as 6,221 applicants and their family dependents. The approvals fall just short of the record high of 6,292 approvals in 2011.
To read this article in its entirety please click here
General Information:
Contact Us to receive more information about this
article.
Interested Investors: Kindly
complete the following form and we will contact you to discuss
your global residency and citizenship investment options.
The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer.