Investor News

19 August 2010

Chinese now top seekers of Canadian Investor immigration

Chinese nationals are the top seekers of permanent residency in Canada, with around 2,000 Chinese moving there after being wooed by the Canadian immigration policies for overseas investors.

In 2009 alone, Canada admitted more than 25,000 permanent residents from the Chinese mainland with around 2,000 of these part of the Canadian investor immigration programme.

Canada's immigration policies for overseas investors require a minimum net personal worth of C$800,000 ($771,395) and investment of C$400,000, as well as business or management experience.

Total deposits in Canada by Chinese investors may reach CA$1 billion this year if another 2,000 Chinese investor immigrants enter Canada in 2010.

Gary Cai, former China chief representative of Canadian Imperial Bank of Commerce (CIBC), said this was a conservative estimate because most applicants have more than double the minimum net personal wealth of C$800,000.

Cai said some Chinese applicants are on the Forbes list of the world's wealthiest individuals.

The number of investor immigrants going to Canada is rising every year, from 5 per cent of total applicants in 2000 to around 25 per cent.




Bookmark and Share