Immigration Canada

Canadian Program Changes force Chinese Investors to US EB-5 Program

Česky: Kanadské muzeum civilizace v kanadské provincii Québec Deutsch: Gatineau: Canadian Museum of Civilization English: Gatineau, Québec: Canadian Museum of Civilization. Français: De soir, vue sur le Musée canadien des civilisations à Gatineau, Québec, Canada. (Photo credit: Wikipedia)

Chicago, IL (PRWEB) April 23, 2012

Canada has been a major destination for wealthy Chinese investors since the 90s. To qualify, the investor has to own at least $1,600,000 assets. Unconditional permanent residence can be obtained if the investor deposits $800,000 for 5 years with the Canadian Federal government or the government of Quebec. The funds are completely secure as they are guaranteed by the Federal Government or by the Province of Quebec. It will be used for economic development and will be returned to the investor at the end of 5th year. Because of its safe nature of the Canadian program and it is relatively easier to be granted permanent residency in Canada, Canadian investment immigration program became a dominant program among Chinese emigration agents for last 15 years. The majority of 600+ licensed Chinese emigration agencies are now beginning to explore EB-5 program and investor program in European countries.

The most recent development that dramatically has changed the emigration industry in China is that the Canadian program reached its allocated quota in 2011 and is now “closed for renovation” leaving most China’s emigration agents with less profitable products they can choose to offer to their clients. The Canadian emigration authority is suggesting that the government it may develop the current program into an entrepreneur-investment program which would be requiring the acquisition of a business in Canada. Making it even worse for the Chinese emigration business, the Quebec immigration program reached its allocated quota of 2,700 on April 12, 2012 after 9 working days after it opened for petitions. Quebec program is now closed, it also closes the door to thousands of Chinese investors and have disappointed China’s agents since they don’t have anything to offer to their clients until March, 2013 when the program reopens again. Now many Chinese emigration brokers are looking into theU.S. EB-5 program which is becoming an important business option for them. Based on a April 20 survey by Gallup, 20 million Chinese population is interested in emigrating to the US and other countries.

The 2nd Annual EB-5 Investment Summit: Dealmakers Conference April 27, 2012 in New York City will update the latest developments in the EB-5 investors program. The event has drawn a lot attention from US capital seekers and commercial real estate developers. Brian Su of Artisan Business Group, Inc. has been organizing EB-5 events in both China and the US.

The all-day conference will feature EB-5 industry experts and VIP guests, including H. Ronald Klasko, Partner of Klasko, Rulon, Stock & Seltzer, LLP, and the EB-5 Chairman of the American Immigration Lawyers Association (AILA), Jeffrey B. Carr, President and Economist of Economic & Policy Resources, Inc., Mr. Boyd Campbell, Immigration Attorney of Immigration Law Center, LLC, Mr. Brian Su, CEO of Artisan Business Group, Inc., Joseph P. Whalen, Former USCIS Adjudicator, Mr. Ronald Fieldstone, Attorney & Partner, Arnstein & Lehr LLP, Ms. Hong Yu, US Project Manager of Wailian Overseas Consulting Group in China, and Mr. John Jiang, CEO of Micon International, Kevin Wright, President of Wright Johnson LLC, Dr. Scott Barnhart, Barnhart Economics Services, Ms. Jo Ann Clark, Founder of EB-5 Resource Center LLC. A 50-member executive delegation from China will also participate in the event.

This year’s event is being hosted and sponsored by Artisan Business Group, Inc., Wailian Overseas Consulting Group, Wright Johnson LLC, Extell Regional Center, and Amazing Journey Investment Consulting Co. The Hilton New York will serve as the venue for the conference. Those attending the event also have the opportunity to meet the prior day with Artisan Business Group’s CEO, Mr. Brian Su, for a 1-hour private consultation.

For more information regarding the event, registration, or a private consultation with Mr. Su, please visit:http://www.EB5NewYorkSummit.org.

Press Contact:

Mr. Brian Su
Artisan Business Group, Inc.
http://www.EB5NewsBlog.org

Alberta praises new foreign-worker rules

BILL CURRY AND JOSH WINGROVE

OTTAWA AND EDMONTON— From Thursday's Globe and Mail

Canadian companies that want to bring in highly skilled foreign workers temporarily will be able to do so faster and pay them less under new federal immigration rules aimed at addressing the country’s persistent labour shortages.

In areas of the country that are booming economically – particularly Alberta – companies are complaining about the lack of skilled workers, a problem that Ottawa has identified as one of Canada’s biggest policy challenges. Of 190,000 temporary foreign workers who entered Canada last year, 25,500 went to Alberta.‬ Businesses that use the Temporary Foreign Worker Program, which allows employers to bring in workers if they can prove they have advertised the jobs locally without success, say they are relieved that it will become less cumbersome, but critics worry the changes will lead to lower wages across the country.

Under the new rules, Ottawa promises to respond to employer requests for highly skilled workers within 10 days, instead of the 12 to 14 weeks it currently takes to get a Labour Market Opinion – a government approval that’s one major step in bringing a worker into Canada.

Also, previous rules required foreign workers to receive the “average wage” paid to Canadian workers in the same region, but the new rules will allow employers to pay up to 15 per cent less than that average wage.‬ ‪In an interview, Human Resources Minster Diane Finley said Canada’s skills shortages mean there will be more temporary foreign workers coming to Canada regardless of the latest changes.‬

“[Wednesday]’s announcement is going to make the system more efficient, it’s going to be more effective for the employers and it’s going to add protection to temporary foreign workers who are brought in while still ensuring Canadians get first crack at the jobs,” she said.‬ ‪

While the new national rules will apply only to high-skilled jobs at first, the government says it could be expanded to include other occupations.‬ ‪Ms. Finley made the announcement in the small, industrial town of Nisku, in central Alberta, which produces infrastructure for energy producers. Labour-starved Alberta relies on the Temporary Foreign Worker Program as a key pillar of its fast-growing economy.

But although Alberta applauded the changes, the province is hoping for further changes to Canada’s immigration laws, including an increase in how many people Alberta can nominate for permanent residency under the provincial nominee program – or no cap at all. Currently, it can put forward 5,000 people per year.

“We’d like to see the cap removed, but if we could get it up to 10,000 that would be very helpful,” said Alberta Human Services Minister Dave Hancock, whose department includes the employment and immigration file.

“The Temporary Foreign Worker Program is not the be-all and end-all. It is a way to get workers when we need them,” Mr. Hancock said, but residency is preferred. “The permanence is an important factor. … Ideally, you want somebody who will actually come to stay.”

Alberta’s provincial government has also complained that a four-year cap on how long a worker can stay short-changes Canadian companies, which help develop employees’ skills (and, in some cases, fluency in English or French), then are forced to kick them out. Other countries are benefiting from Canada’s training, the Alberta government has argued.‬ ‪

The Canadian Federation of Independent Business’s Alberta director, Richard Truscott, applauded the changes and said the TFW program is a “godsend” for some businesses. He added that more changes are needed to cut red tape and improve the overall immigration system.‬ “This is one first step in that direction, but there are many more steps to go,” he said, noting the labour shortage is “going to get a lot worse before it gets better.”

Immigration consultant Peter Veress, the president of Calgary-based Vermax Group, also praised the move, saying a 10-day turnaround would be a big improvement.‬ He said the jobs are typically ones that Canadians don’t want. “I don’t think we can fix the [labour shortage] problem domestically,” he said.

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