July 20, 2017 – Foreign Investors Apply for Temporary Work Visas Under Ottawa's Business Owner-Operator Rules
Wealthy business immigrants are buying businesses and turning to Ottawa's temporary work visa, 'owner-operator' policies to gain entry to Canada. Opportunities for investment based immigration to Canada is otherwise limited. Current federal permanent immigration programs although operational on paper, are not attracting interest from foreign investors.
The federal government's Immigrant Investor Venture Capital (IIVC) Pilot Program, offering permanent residence to ultra high net worth individuals, is practically non-existent according to the current Ambassador to China and former federal immigration minister John McCallum.
Similarly, the federal Start-Up Visa Program also offering permanent residence and a work visa aimed at mid-level net worth entrepreneurs, has hardly garnered interest since its inception in 2014, with Ottawa refusing to divulge its disappointing numbers.
This leaves a large pool of international investors seeking permanent admission to Canada to compete for a relatively small number of quota based openings under Canada's provincial business immigration programs. The Province of Quebec dominates this area with its Quebec Immigrant Investor Program, (QIIP). It plans to receive 1900 new applications in 2017 and spots are filling quickly.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer