The following appears as an Op-Ed in the Parliament Hill
Times – May 11, 2016
The federal government has taken fire for Quebec`s Immigrant
Investor Program (QIIP) which offers residency to wealthy
immigrants, mostly from China. Critics accuse Ottawa of
disregarding that the vast majority of these individuals settle in
British Columbia and Ontario, and deprive these provinces of
federal immigrant settlement transfer payments which Quebec is
The critics would be better advised to appeal to the federal
government to reclaim its role as a dominant player in the
residence through investment industry as it has the policy basis
and the market demand to do so.
Until 2014, the federal government gave entry-level millionaires
a pathway to residency and ultimately, citizenship in Canada
through its Canada Immigrant Investor Program (CIIP). The scheme
operated largely on the interest income earned from investors'
funds. The program benefits to Canada peaked during the 1990s, when
interest rates were high. The program was terminated under
much controversy in 2014 by the previous government which despite
compelling favourable studies, claimed it provided no benefit to
Canada. It was replaced in February 2015 with an unpopular Immigrant Investors Venture Capital Pilot Program
(IIVCP) which the current federal immigration
minister has publicly stated is practically non-existent due to the
lack of interest from international investors.
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The content of this article reflects the personal insight of
Attorney Colin Singer and needs no disclaimer
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September 21st, 2016 - Immigration authorities conducted the 20th round of invitations under Express Entry in 2016 and 43rd overall, inviting 1288 applicants for permanent residence with a lowest CRS score of 483.
Canada received more than 320,000 immigrants in the last 12 months, approaching levels not seen since the early 20th century. The per capital immigration rate at .88%, is consistent with previous Liberal government policies.
October 12th, 2016 - Immigration authorities conducted the 21st round of invitations under Express Entry in 2016 and 44th overall, inviting 1518 applicants for permanent residence with a lowest CRS score of 484.
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