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June 11, 2008
Canadian Citizenship Awaits Punjabis
with Money to Spare!
By Alkesh Sharma
Chandigarh
A leading Canadian investment facilitator has been focusing on the
rich in Punjab, offering them permanent residency (PR) and even
citizenship - if they are willing to loosen their purse strings.
Montreal-based Renaissance Capital Inc. (RCI) was on its second tour
of Punjab in two years with its jump-the-queue immigration scheme
for those ready to invest a whopping Canadian $400,000 (over Rs.15
million).
Immigration under normal circumstances takes over three years for
clearance, but those who go under the investor category can get a
fast track permanent residency or even Canadian citizenship in much
lesser time.
"RCI is authorized by the government of Quebec in Canada as
principal catalyst in gaining permanent residency or Canadian
citizenship through investment in that country. We have been active
in this business for the last 13 years," asserts Darragh McManamon,
vice president and general counsel of RCI.
"One has to invest Canadian $400,000. This money is further invested
in government bonds, securities or in some social programmes and
businesses. The best part is that the principal amount will be
returned to the investor after five years," McManamon told IANS.
For those not wanting to invest the entire amount, RCI even offers a
loan and in this case, the immigrant has to pay just Canadian
$120,000 (over Rs.4.5 million). But this amount is non-refundable.
Obtaining all clearances from the federal and provincial governments
concerned is done by the agency.
"This is a good way to immigrate to Canada for people who have the
money. I have come to explore this. Landed people in Punjab can
avail of it and start farming there," said Rajbir Singh, an
agriculturist.
Over 3,000 families have already immigrated to Canada from all over
the world, particularly from India and China, under the investors'
category. Immigrants in this category enjoy all rights available to
Canadian citizens.
"Over 1,000 - or one third of the investor families - have
immigrated through us. We see a lot of potential in Punjab," RCI
immigration marketing manager A.J. Cheema said.
Around 250,000 migrated to Canada from all over the world in 2007.
Canada already has over one million Punjabis. Punjabi is recognized
as the fourth most spoken language in that country.
"To become eligible under this programme one should have a net worth
of Canadian $800,000. There is no language test and no specific
qualifications are required. We don't need scholars or academicians
but are focusing chiefly on businessmen, senior managers,
agriculturists, self-employed people like doctors and lawyers and
even senior government officials," Cheema pointed out.
Immigration agents say the investors' programme is better accepted
in China and they are now focusing more on India, particularly
Punjab.
IANS
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June 11, 2008
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