Quebec’s cash-for-visa programmes one of the most generous, says study

Quebec’s cash-for-visa program is a very generous programme, a US-based think tank has said after a study.

According to the Migration Policy Institute, Quebec’s cash-for-visa program, which requires that an applicant invest in a bond for C$800,000 for five years, has seen investors queuing up, though the US, the UK, New Zealand, Australia and some European countries offer a similar type of programme.

Demetrios Papademetriou, the Migration Policy Institute’s founder, is quoted by the Vancouver Sun as saying that he considered it one of the most generous since it is very attractive in order to make Canada your home.

In the US investor programme, an investor has to shell out $500,000 in a corporate effort, which is risky as applicants could and do end up losing their investment. This lets investors get temporary resident permits and two years later a status of permanent residence

While the UK programme entails applicants to invest £2 million in a government bond or shares, for which they obtain a three-year resident visa extendable for two more years, following the prospects of getting permanent resistant status. However, restrictions in Britain prevent investments in real estate sector.

As for Australia’s programme, a prospective immigrant has to invest $1.5 million in a firm, but he/she should below the age of 45, own assets worth $2.25 million, have a proficiency of ‘vocational level of English-language’ and prior business experience.

In New Zealand, it is mandatory for applicants to speak English for the programme and $1.5-million should be invested in a five-year government bond. It also needs applicants to prove that they are intending to settle in the country and have the wherewithal for doing so.

The requirements for French and German permanent residence permits are also said to be similarly restrictive.

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