Refugees reporting more income than investor-class immigrants

More evidence on the design flaws of the immigrant investor program. Not sure that the changes will correct the overall picture of lack of commitment and a more instrumental view of immigration and citizenship:

According to CIC, business immigrants have accounted for seven per cent of Canada’s total immigration since 1980 and in 2010 investor-class immigrants — who, as a condition for entrance, were required to prove net worth in the millions and invest $800,000 in Canada — accounted for 88 per cent of all business immigrants.

According to CIC, investor immigrants reported average earnings of about $18,000 in their first year and just $28,000 after 15 years. After three years, only 47 per cent of such immigrants reported any income. The Canadian average is 67 per cent.

After five years, only 39 per cent reported income, suggesting investor immigrants may leave the country (or declare non-residency) after the citizenship process is complete.

Meanwhile, refugees (those who come to Canada under hardship) reported first-year average incomes of $20,000 and after 15 years those incomes rose to $30,000. Two-thirds of refugees reported income by their fifth year, on par with Canada’s average.

More troublesome for Young is that similar rates of income after 15 years are found with the spouses and children of the initial, principal applicant.

“It’s particularly worrisome considering that the biggest cohort (40 per cent) of dependents upon arrival is made up of children aged 10 to 19. These (children) would be 25-34 after 15 years, and should be earning good money. But they aren’t.”

As well, Young adds, “the same phenomenon of a decline in tax-reporting rates could be seen in spouses and children, suggesting some of them, too, head for the exits.”

“The issue is not with immigrants or immigration in general, it is with wealth migration schemes in particular. …Should Canada wait for the grandchildren of investor immigrants to join the workforce before seeing the supposed benefits of millionaire migration?” asked Young on his blog.

Refugees reporting more income than investor-class immigrants