Chinese are big customers for schemes selling foreign residency
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Re: Chinese are big customers for schemes selling foreign residency
#2This has always been a common theme in Asia/South East Asia and is nothing new.
The biggest barriers are:
1. Money/Income 2. Language. 3. Education.
You can't fit in if you don't know the language, or literate. That's what makes Student visas so valuable, because it can give an anchor to an family to move abroad.
Education, you can't survive abroad w/o income and this is usually hand in hand w/ a degree.
Money, well, money is good everywhere.
Re: Chinese are big customers for schemes selling foreign residency
#3And so are US birth hotels. https://www.nbcnews.com/news/us-news/feds-raid-l-maternity-h...
Re: Chinese are big customers for schemes selling foreign residency
#4> But Canada closed its federal programme in 2014 (some provincial schemes, such as Quebec’s, continue).
Only mentioned as an aside, but for Vancouverites, this has been very painful.
Uniquely Quebec manages its own immigration (let's not get into it) and they have an investor immigration scheme that essentially sells citizenship for a pittance. Of course since persons have freedom of movement there's nothing stopping persons who buy citizenship in Quebec for moving to Vancouver, which almost all of them do.
Accordingly while British Columbia has enacted various foreign investor taxes to try to limit the distortions from foreign money on the real estate market, there remain significant impacts of foreign wealth in Vancouver and BC.
Sadly federal politicians aren't in much of a rush to annoy the Quebec government by playing hardball on this issue as Canada has an election coming up and Quebec has heaps of seats in play.
Re: Chinese are big customers for schemes selling foreign residency
#5> But Canada closed its federal programme in 2014 (some provincial schemes, such as Quebec’s, continue). Only mentioned as an aside, but for Vancouverites, this has been very painful. Uniquely Quebec manages its own immigration (let's not get into it) and they have an investor immigration scheme that essentially sells citizenship for a pittance. Of course since persons have freedom of movement there's nothing stoppin…
You have to invest $1.2 million and have a net worth of at least $2 million, right? I wouldn't call that a pittance.
Re: Chinese are big customers for schemes selling foreign residency
#6Peter Thiel wrote about it back in 2014 in his book, Zero to One.
We have a different image of China and China has done a great job posing as next superpower but the reality is very different on the ground.
Rich Chinese want to get away from China by paying whatever price they can afford, this is not surprising at all!
Re: Chinese are big customers for schemes selling foreign residency
#7> But Canada closed its federal programme in 2014 (some provincial schemes, such as Quebec’s, continue). Only mentioned as an aside, but for Vancouverites, this has been very painful. Uniquely Quebec manages its own immigration (let's not get into it) and they have an investor immigration scheme that essentially sells citizenship for a pittance. Of course since persons have freedom of movement there's nothing stoppin…
My belief has always been foreign capital (speculation) is bad, but immigration is good. So if you want to move here and bring all that foreign capital great! If you want to speculate or park money in Canadian real estate (empty houses and condos) that's really bad for the locals. It never should have been allowed.
Re: Chinese are big customers for schemes selling foreign residency
#8> But Canada closed its federal programme in 2014 (some provincial schemes, such as Quebec’s, continue). Only mentioned as an aside, but for Vancouverites, this has been very painful. Uniquely Quebec manages its own immigration (let's not get into it) and they have an investor immigration scheme that essentially sells citizenship for a pittance. Of course since persons have freedom of movement there's nothing stoppin…
Feds can't and won't do anything about it. It's etched on "Canada Québec accord". That's why Québec is infamous for bad immigration practices like QIIP. Recently they cancelled 18,000 applications and is trying to impose a French culture values test and deportations. An immigrant's kid in Québec is forced to attend French language school.
Québec is indirectly responsible for BC housing bubble.
Re: Chinese are big customers for schemes selling foreign residency
#9> But Canada closed its federal programme in 2014 (some provincial schemes, such as Quebec’s, continue). Only mentioned as an aside, but for Vancouverites, this has been very painful. Uniquely Quebec manages its own immigration (let's not get into it) and they have an investor immigration scheme that essentially sells citizenship for a pittance. Of course since persons have freedom of movement there's nothing stoppin…
You have to invest $1.2 million and have a net worth of at least $2 million, right? I wouldn't call that a pittance.
It will be given back without interest. So not an investment but an interest free loan.
Re: Chinese are big customers for schemes selling foreign residency
#10[deleted]