Millionaire migration to Canada didn’t fall after investor scheme’s axing – it rose, new data reveals | South China Morning Post

Millionaire_migration_to_Canada_didn_t_fall_after_investor_scheme_s_axing_-_it_rose__new_data_reveals___South_China_Morning_PostMore on the Investor Immigrant Program and how Quebec continues to encourage investor immigration through its own program:

Citizenship and Immigration Canada (CIC) spreadsheets demonstrate that, yes, immigrant investor visa approvals under the federal IIP plunged 42 per cent as the scheme  wound down, falling to a mere 2,541 applicants and family members in 2014.

Yet, astonishingly, overall investor immigrant approvals nationwide were up by 7.2 per cent, hitting 8,762 approvals, the most since 2011.

How? Because, even while Ottawa was hitting the brakes on millionaire migration, the province of Quebec (which runs its own IIP) was hitting the accelerator. And l’accélérateur was winning.

In 2014, Quebec approved a bumper 6,221 millionaire migrants and family members, a whopping 62 per cent increase compared to 2013. It was a near-record year, surpassed only by the 6,292 approvals in 2011.

Quebec’s programme matters to Vancouver, because 89 per cent of Quebec investor immigrants do not end up living there, according to federal data. Most likely end up in Vancouver, assuming those 89 per cent disperse in a fashion similar to their counterparts in the federal scheme.

At this point thanks should go to Richard Kurland, the Vancouver immigration lawyer who has been a relentless pursuer of data that CIC does not prefer to release as a matter of course. The CIC spreadsheets that he shared with me this week were only obtained under access to information requests.

The spreadsheets demonstrate in clear fashion how Quebec has historically approved a majority  of Canada’s millionaire migrants, and has likely approved a majority of those who end up in Vancouver. From 2002 to 2014, Quebec approved 65,151 investor migrants, compared to 45,294 okayed under the federal IIP.

Millionaire migration to Canada didn’t fall after investor scheme’s axing – it rose, new data reveals | South China Morning Post.

About Andrew
Andrew blogs and tweets public policy issues, particularly the relationship between the political and bureaucratic levels, citizenship and multiculturalism. His latest book, Policy Arrogance or Innocent Bias, recounts his experience as a senior public servant in this area.

3 Responses to Millionaire migration to Canada didn’t fall after investor scheme’s axing – it rose, new data reveals | South China Morning Post

  1. Brad says:

    Hi Andrew. Brad here at Qc.C.Blog. An anecdotal case-in-point about the investment-and-run programme (er… I mean the Québec investment program): I live in a building in Toronto of mostly new Chinese residents who come to Cda with a certain financial weight. I counted 11 luxury vehicles in the parkade with Québec plates. I decided to put on my old “interviewing hat” and asked the Mandarin-speaking owners/residents of two of the Québec plates if they recently moved to Canada. They don’t speak English (I asked/spoke in Mandarin), but they informed me they bought their cars and acquired SAAQ vehicle insurance & registration a long time ago as part of their mandatory pre-investment exploratory trip to Québec so as to shore up the “resident intentions” component of their investment applications (the part where they have to prove to MIDI officers that they “intent” on residing in Québec). Funny thing is they live in (and have only ever lived in) Toronto. I asked if they own property in Montréal and both said yes (again, as part of shoring up their “intentions”). I also asked about the other QC plates in the parkade and told me it is the same case for those plates/people as well. I asked why they don’t change to Ontario plates and they answered it is to because the addresses are tied to their Montréal condos (I’m not sure what that means, since once you’re in, you’re in… but whatever). In both cases, the husbands reside in China, the wives are here temporarily, and the late-teenage kids are regularly seen strolling around during the day (even during the school year). I think during the course of my short conversations, the property prices in Toronto went up by another percent. Sigh X 10, and then X 10 again. (Funny how I can’t help but keep putting on that old CIC “hat” whenever something seems out of whack… Feels like a curse which haunts me, but you see a lot more when you’re outside of that bubble and you have no career constraints preventing you to talk quite frankly with people – hahaha).

    • Andrew says:

      Thanks Brad for sharing. The number of anecdotes around this issue suggests that there is a problem and CIC, I believe, has ways of tracking interprovincial moves and has done some studies.

      Never liked the business immigration approach, as I think it attracts those looking for a safe haven more than making Canada their home.

  2. Pingback: Conservative pledge to collect data on foreign homebuyers gets mixed reception | Multicultural Meanderings

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