REVscene - Vancouver Automotive Forum

Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Thread Tools
Old 12-10-2013, 03:12 PM   #1
I Will not Admit my Addiction to RS
Gululu's Avatar
Join Date: Feb 2013
Location: Shaughnessy
Posts: 564
Thanked 755 Times in 209 Posts
Millionaire immigrants invest in Quebec and then move on to B.C.

Millionaire immigrants invest in Quebec and then move on
Just under 10% of investor immigrants under provincial program still there 5 years later

By Susan Lunn, CBC News Posted: Dec 10, 2013 12:09 PM ET

The vast majority of millionaire immigrants who come to Canada through Quebec's immigrant investor program do not stay in that province, allowing Quebec to keep millions in job creation dollars while other provinces carry the costs of settlement.

Numbers from Citizenship and Immigration Canada, obtained by a Vancouver immigration lawyer, show that 90 per cent of those immigrants are not living in Quebec when they re-apply for permanent resident visas five years later.

Immigration lawyer Richard Kurland says other provinces are bearing settlement costs for investor immigrants who arrive in Quebec and then move on, while that province gets the benefit of job creation funds. (CBC)

Richard Kurland said there has been anecdotal evidence for years that those millionaire immigrants instead go west to British Columbia.

He paid the federal government to search its own database to determine how many of those immigrants are still in Quebec. As it turns out, only around 10 per cent are still in the province.

Quebec is the only province to run its own immigrant investor program. It is identical to the federal one which was suspended in June 2012 in which an applicant pays $800,000 and must also demonstrate a net worth of more than $1 million.

The $800,000 is returned after five years, without interest, but in the meantime is invested in job creation.

Under the federal program, money is split evenly between Ottawa and the province of destination. But under its own program, Quebec keeps all of the money for job creation.

'A matter of fairness'

Kurland said the current setup isn't working.

"What happened here is an abuse of Canada's immigration program, the design failed," he told CBC News.

Kurland said it's unfair to the other provinces where the millionaire investors do eventually settle, such as B.C.

"It's British Columbia that needs to take care of the health needs, the education, the subsidized university," he said.

Kurland said one possible solution is to have immigrants in the program file a tax return from the province they promised to live in for a few years upon arrival. If they move, they must wait longer to get their $800,000 refunded.

Federal Immigration Minister Chris Alexander issued a statement Monday saying his department is looking at the issue.

"If someone applies to immigrate to a particular province, that is where they are undertaking to reside. While we respect provincial jurisdiction, as a matter fairness, we cannot send federal transfer payments to one province for someone living in another.

"That saddles the other provinces with unfair resettlement costs, such as health care and education," the statement said, adding. "This is a matter in which we are actively engaged."

Millionaire immigrants invest in Quebec ? and then move on - Politics - CBC News

No surprise here
Gululu is offline   Reply With Quote
This post thanked by:
Old 12-10-2013, 07:21 PM   #2
I contribute to threads in the offtopic forum
Join Date: Jun 2006
Location: not vancouver
Posts: 2,647
Thanked 1,938 Times in 765 Posts
Canadian citizenship sells for $60k, nice one Canada!

(60k = 800k invested in risk free treasuries (5 yr term which yields 1.5% or so), compounded for 5 years)
4444 is offline   Reply With Quote
Old 12-10-2013, 11:50 PM   #3 has a homepage?!
Marshall Placid's Avatar
Join Date: Jan 2013
Location: Richmond
Posts: 1,296
Thanked 1,934 Times in 494 Posts
The obvious benefactor seem to be... Quebec.

I would love CBC or the Federal Government to conduct research on what those resettled immigrants (from Quebec to BC and other provinces) contribute to the resident provinces.

Perhaps, those resettled immigrants opened new businesses in the new provinces, or started working there, or had more kids, or enriched the new provinces.

After all, the immigrants do have to do SOMETHING.

They would spend money and get taxed, work and get taxed, open new businesses and create jobs (and also get taxed), etc.

It depends on the median age of the immigrants.

But, 90% of immigrants moving out of Quebec is an alarming rate in any sense of "emigration" out of Quebec.
Marshall Placid is offline   Reply With Quote
Old 12-11-2013, 12:10 AM   #4
Los Bastardo owned my ass at least once
rsx's Avatar
Join Date: Dec 2001
Location: Vancouver
Posts: 6,223
Thanked 3,381 Times in 805 Posts
How the hell do they not have a system to make sure there's no imbalance? It's like a bunch of highschool students doing a patchwork project for social studies.
rsx is offline   Reply With Quote
Old 12-11-2013, 12:36 AM   #5
RS has made me the bitter person i am today!
Join Date: Feb 2011
Location: Richmond
Posts: 4,989
Thanked 7,927 Times in 2,061 Posts
So can we fucking kick Quebec out of Canada yet? Goddamn...
Posted via RS Mobile
320icar is offline   Reply With Quote
This post thanked by:
Old 12-11-2013, 07:24 AM   #6
"Entertainment" mod.
CorneringArtist's Avatar
Join Date: Feb 2009
Location: Surrey, BC
Posts: 4,584
Thanked 2,877 Times in 872 Posts
Originally Posted by 320icar View Post
So can we fucking kick Quebec out of Canada yet? Goddamn...
Posted via RS Mobile
Not unless they stay economically tied to Canada...oh wait they can still pull in revenue if they separated and continued the program. Keep the wealthy immigrants there and see if they learn French at all.
CorneringArtist is offline   Reply With Quote
Old 12-11-2013, 07:38 AM   #7
Fathered more RS members than anybody else. Who's your daddy?
Join Date: Aug 2002
Posts: 18,741
Thanked 8,235 Times in 3,266 Posts
Quebec and fairness cannot be in the same sentence. Equality to them is when they get more than the rest of the country.
"there but for the grace of god go I"

substitute the word "god" with Allah, Mohammed, Buddha, Odin, your parents, whathaveyou..........
MG1 is online now   Reply With Quote
This post thanked by:
Old 12-11-2013, 09:42 PM   #8
Banned By Establishment
DJ Milk's Avatar
Join Date: Mar 2002
Location: Vancouver
Posts: 7,234
Thanked 424 Times in 134 Posts
Maybe the investor immigrants don't want to learn French because it's weird
Why are you reading this?
DJ Milk is offline   Reply With Quote
Old 12-11-2013, 09:45 PM   #9
The Brown Reason
BrRsn's Avatar
Join Date: Jan 2007
Location: Whalley
Posts: 4,594
Thanked 5,847 Times in 1,521 Posts
maybe they don't wanna learn french because it's the language of defeat

Originally Posted by bcrdukes
fuck this shit, i'm out
BrRsn is offline   Reply With Quote
Old 12-11-2013, 11:34 PM   #10
Rs has made me the man i am today!
urrh's Avatar
Join Date: May 2002
Location: vancouver
Posts: 3,293
Thanked 1,275 Times in 263 Posts
Originally Posted by MG1 View Post
Quebec and fairness cannot be in the same sentence. Equality to them is when they get more than the rest of the country.
also women's logic on equality
Originally Posted by Fei-Ji View Post
haha i can taste the cum in my mouth
Originally Posted by orgasm_donor View Post
organge7 has spoken, and we have done the opposite. yay!
urrh is offline   Reply With Quote

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

All times are GMT -8. The time now is 10:38 AM.

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc. cannot be held accountable for the actions of its members nor does the opinions of the members represent that of