Canada Cancels Investor Visa Program After Getting Too Many Chinese Applicants: Shanghaiist
Last week, the South China Morning Post published an exclusive, reporting that the vast majority of applicants for Canada’s special residence visa program for investors were from the Chinese mainland.
Perhaps this news did not sit well with Canadian immigration authorities, who pulled the plug in the fast-track program earlier this week.
Canada has long offered a program similar to Australia’s ‘investor visa’ scheme, in which overseas applicants (mainly from China and Hong Kong) can apply for residency after investing a few million bucks in the nation’s economy. On Tuesday, however, the country’s finance minister announced that 46,000 Chinese applicants will get their visas denied and their application fees refunded.
So, it’s true. Money can’t buy you everything.