Triggered by this news:canadavisa.com
All you need to do to get Canadian permanent residence (and later citizenship) using Quebec's Immigrant Investor program:
1) Be somewhat rich ($1.6M in net worth)
2) Lie about wanting to reside in Quebec (this is unenforceable after you get your PR).
Less than 16% of "investors" Quebec invited continue to live in Quebec. 50% go to live in BC according to official data (not speculation):scmp.com
3) Loan your $800,000 for 5 years. This loan is guaranteed by Quebec government. This money will be returned in full.
So, what is Quebec getting out of this?
Quebec government bonds rates:epq.gouv.qc.ca
Fixed date, five year term: 1.85%.
Compound interest over 5 years: $800,000 * (1.0185 ^ 5 - 1) =$76,790.
That's how much it would cost Quebec to secure a $800,000 investment without handing out permanent residence in exchange. It is also fairly close to how much it would cost a rich guy to get loan for $800,000 for the purpose of making a loan guaranteed by Quebec government.
That's right, Quebec earns a whopping $76,790 for their backdoor-into-Canada services. That's less than my salary!
The rest of Canada is left with paying the medical / schooling bills and GST rebates for the poor families of those investors who don't have any declared income.
Ok, rant over. This is just incredibly frustrating given how terribly Canadian immigration is working for everyone else (long processing times, no certainty whatsoever, rejections for the tiniest reasons – just to name a few reasons).
