Yes, as per the details, an increasingly large number of foreign investors under Canada Provincial Nominee Program choose to move to Canada.
Only 10 percent of investor immigrants choose to settle in Quebec—Many millionaire immigrants coming to Canada under Quebec immigrant investor scheme are not staying in this Canadian province for longer duration. Rather, they are moving to other Canadian provinces.
Majority of Quebec millionaire immigrant investors are moving to other Canadian provinces after immigrating to Quebec under its immigrant investor program.
Nearly 90 percent of millionaire immigrant investors are moving away from Quebec to other main Canadian provinces. And this is despite the fact that nearly CA$800,000 investments remain in Quebec only.
Quebec immigrant investor program for coming to Canada—Canada’s Provincial Nominee Program is proving to be a good route for foreign investors wanting to settle in main Canada provinces. What does this mean? Well, it simply means that if you don’t qualify for immigration to main Canada, it is better to apply for PNP(Provincial Nominee Program) and then move on to main provinces.
No wonder, many foreign investors are immigrating to Quebec under its PNP and then choose to move to other Canadian provinces. And this is providing Quebec investments without having to cover the costs of education subsidized healthcare or other services to foreign investors and their families.
Giving details about the issue, Richard Kurland, Canada immigration lawyer said for years, millionaire immigrants are heading to British Columbia after coming to Quebec through PNP.
Rules of Quebec immigrant investor program--It may be worth notable in this regard that Canada had discontinued its federal investor scheme in June last year.
And Quebec’s Immigrant Investor Program requires applicants to pay $800,000 along with having a net worth exceeding $1 million. This amount is given back to the immigrant investors after a period of five years(without any interest) and this amount is invested for creation of new jobs in Quebec. And this is a big gain for Quebec.
No wonder, Kurland has stressed that BC(British Columbia) has to care for the health and other requirements of immigrants.
What should be done?—Kurland suggests that the issue can be tackled by requiring immigrants(under this immigration program) to file a tax return from Quebec. And those moving away from Quebec may be required to wait for longer period for getting refund of their investment funds.