Coming Down Hard on Canadian Permanent Resident Status May Delay Overseas Investments

Coming Down Hard on Canadian Permanent Resident Status May Delay Overseas Investments

Immigration Law

Some observers opine that the decision to cancel the permanent resident status of the investors from abroad in Canada would send a wrong signal, and dampen the spirit of such investors. Allegedly, some migrants in the Maple Country (Canada)–post pocketing the prized permanent residency status of the nation–at certain times, abuse the privilege. Some of them even stay out of the country for an extended duration of time. Fresh rules & regulations have been implemented which would cancel the prized permanent residency status of any overseas people in Canada who stays outside the country for a very long period of time. The said law has been put into practice after a remarkable number of cases were registered against such type of migrants and activities. The characteristic of the matter may be that those permanent residents–who live out of nation for a long duration of time–by and large, happen to be investors arriving from overseas nations.

The Outcome The key concern is that most of such individuals–who arrive in Canada, get permanent residency status and spend a great deal of time out of the territorial jurisdictions of the nation-happen to be immigrant investors. In case their residency status is cancelled, the investments being brought along from this group would decline. Still, some professionals opine that the step could not influence the qualified worker category or any other category to the level that it influences the immigrant investors. The Rationale Canada’s immigration minister observes that the overseas investor must not be permitted to enjoy the public services, if they don’t settle the many existing taxes, like others. Only because such investors carry along a great amount of money does not mean that they may be permitted to bypass the rules and make most of the existing immigration system. Meanwhile, a report shows that such individuals get the status of permanent resident before spending most of their time in a nation which has comparatively low taxes. Although they do not have to pay high taxes here, they continue to hold the privilege of being a permanent resident of the nation.

What makes permanent residents stay out of Canada? Some people also say that as a sizeable section of such residents happen to be investors, they could be managing big businesses. It is rather reasonable to have a place of work at many places. Most likely, these individuals have to do a great deal of travelling. Still, they keep their families at one location. At this stage–in all likelihood–the administration, together with its officers, requires to appreciate that a new bunch of rules & regulations may be less required than the implementation of what may already exist. Such applications could well send across a not-too-positive indication to those overseas people, who mostly go by the rules, conclude the observers.

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