Wake Up Vancouver!

    Citizens for a Better Vancouver

Can Canada’s immigration industry bring federal millionaire migration scheme back from the dead?

Few mourned when Canada’s federal immigrant investor program met its demise (1986-2014), crushed to death under the weight of endemic tax cheating, a vast backlog of applicants and the dubious ethics and temptations involved in selling residency.

Few, that is, outside the immigration industry.

For years the federal IIP had been a spectacular money-spinner - although not necessarily for the Canadian economy.

“Lucrative” doesn’t cover it: commissions of C$100,000 or more were being paid to “facilitators” for every successful referral of an immigrant to the IIP. Up to C$40,000 of that came from provincial investment funds receiving the applicants’ C$800,000 IIP investments; the rest was generally topped up by banks that provided financing for applicants.

http://www.scmp.com/comment/blogs/article/2097212/can-canadas-immigration-industry-bring-federal-millionaire-migration

Amid a housing crisis, Vancouver buys houses and leaves them empty.

Ex-TransLink boss warned mobility pricing “several orders of magnitude more complex” than Compass boondoggle