jimmydean

Whilst browsing T'internet I came across this article placed last week on the FT Website.

http://www.ft.com/cms/s/2/4236b0c4-b...44feab49a.html


If you read the section relating to Canada........what does the bit about Pensioners can retire to Canada from this Autumn if they pay the Canadian Govt C$180K - C$220K mean?

Is this news or has this always been the case?

CanadaJimmy

Interesting. It might be referring to Investor class, but that channel has been closed since June 26th so their information is out of date if so.

BristolUK

Trying not to sound sarcastic, but if it comes in this Autumn, it can't have always been the case.

It does look new to me. I'm sure I recall reading a few years ago that people "can no longer retire to Canada" (unless meeting other conditions) so it seems they changed their mind.

JonboyE

It is the investor route isn't it?

It used to be an investment of $400,000 for five years. I believe it is currently suspended and is supposed to be going up to $800,000 when it is reopened.

The article is wrong on one point. You don't give the government $180k-$220k. You are supposed to lend the government money for five years. In practice, you pay a bank $180k-$220k in up front interest and fees and they loan the money to the government on your behalf.

Alan2005

I always thought this way in was stupid as governments are crap at investing money. You'd have thought an investor class would be a business plan that came with a work permit that got converted to PR after a year or two contingent on business milestones, or something like that. The current method is just a way for rich people to buy visa's - assuming a return of 5%, 800k loaned to the government interest free, would cost about approx $250k of lost income in 5 years.

JonboyE

This is exactly what it is.