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In the News

Canada Scraps its Decades Long Investor Visa Program

Uncertainty looms for thousands of Mainland Chinese as Canada has scrapped its decades-long investor visa program. Many say they had been hoping to school their young children in Canada, but are now being forced to make new plans.

An Li and her family had been waiting for five years to get Canada’s green light for a residency visa. But this week, she got word that their application was rejected. This rejection left her reeling.

"I am very disappointed about the news. This will affect my kid’s studies overseas. This is a concern for us" An Li said.

An Li says this is a common dream amongst many Chinese millionaires.

Canada’s decision to scrap the investor visa program will have them relook at their lives.

Some say the outright abolition without notice is harsh. They say it creates uncertainty for applicants and the agencies that represent them.

Agencies expect to lose clients as many will give up on migration or switch to other types of immigration that require legal representation.

Up to now, tens of thousands of Chinese were able to apply for visas by investing $2 million Canadian dollars in government funds. And, Canada’s offer for entrepreneur visas may not be appealing to some.

"We’ve been wanting to go to Canada so our kid could go to school there, but we’d rather not run a business there. We feel more comfortable doing that here" said Would-be Applicant, Yu Qiaoling,

Immigration and investment lawyer from Beijing DHH Law firm, Qiu Yuxia says this could be a positive move, "Canada is not discouraging people from going to Canada. It doesn’t want people to buy residency. Rather, they want them to invest in businesses where they could create jobs and boost economy."

Qiu believes China’s millionaires could easily set up businesses and qualify for visas. With the potential to create jobs for Canadians, their applications would be more appealing.

Canada isn’t the only choice for China’s rich. They could always consider countries like the US, Cyprus, Portugal and Australia.

Yu Qiaoling says these countries would be the second choice for many families. All things considered, education, welfare, culture and hospitality, she says Canada is still her top choice for migration.


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