Immigration Lawyer Michael Niren Quoted: Is Canada Losing Immigrant Investors to the United States?

By Michael Niren May 14, 2013 (Updated December 16, 2019) 1 min. read
investor immigration lawyer

Canada suspended the Immigrant Investor Program in the summer of last year to help the government tackle a massive backlog of applications. The program, which was extremely popular, allowed foreign nationals to invest at least $800,000 with the government in order to immigrate to Canada, something that provided an additional $2 billion to the Canadian economy annually.

According to Yahoo News, the government of Canada does not have any plans to re-open the Immigrant Investor Program, despite the fact that many of the qualified investors are now moving on to the United States, which offers permanent residence to applicants who invest $500,000 into government-designated investment funds using the EB-5 visa.

Immigration Lawyer Michael Niren Quoted in Yahoo News

Yahoo News Canada reached out to our own immigration lawyer Michael Niren, who said that while the Immigrant Investor Program was in need of some changes, suspending it wasn’t a good idea.

“The Federal Investor program was in many ways a broken program that suffered processing inefficiencies and inconsistent outcomes,” he said. “However it did bring in millions of investment dollars to Canada as well as valuable human capital especially through many of the dependent children of immigrant investors who became contributing members to Canada, economically and socially.”

He also went on to say that Canada should reshape the program to be more like the program that is available in the United States, where applicants must invest into businesses rather than give money to the government.

Are you interested in immigrating to Canada?

We can help you. We can also help you apply for the immensely popular EB-5 visa program in the United States  or the new Canadian Start Up Visa while the Immigrant Investor Program in Canada is suspended indefinitely.

Lisanne Cholette Avatar

Lisanne Cholette

Mansi has been helping me navigate through a new chapter in my life. It has been a huge comfort to be able to lean on her knowledge and expertise and I would highly recommend her to anyone!

BERLITA COLLADO Avatar

BERLITA COLLADO

I am so very thankful to the VISAPACE team for making it all come true and possible from my Open Work Permit to my Permanent Residence, you make it all happen .Thank you very much from the bottom of my heart , Thank you for being part of my achievements. Now I am now a Permanent Residence through the effort, power and knowledge of VISAPLACE LEGAL TEAM.
Sending you my best appreciation and thank you.

Berlie Collado

Shahrzad Sh Avatar

Shahrzad Sh

“I truly want to thank Mansi. Her patience and thoughtful advices made a big difference for me. Her recommendations were not only helpful but also gave me clearer insight. Words can’t fully express how grateful I am for her support.”

kevin geoffrey Avatar

kevin geoffrey

Visa place helped me with my daughter’s sponsorship 3 years ago. Last week I contacted them for some clarification on a different matter. It was about an issue which technically was a problem of CIC’s software glitch and had nothing to do with Visa Place.
Yet Reena Sandu was assigned for my case. she helped me with enthusiasm and showed no hesitation despite me being an ex-client from 3 years ago.
I was very happy that even after 3 years of finishing business, Visa Place were respectful of their clients. Special thanks again to Reena for her enthusiasm and support.

Nessie Leigh Ilarde Avatar

Nessie Leigh Ilarde

Thank you very much for helping me get my new visa! I appreciate Ms. Felicita and her colleagues for guiding us through the process making sure that everything is precise. Highly recommend your firm. Thanks again 🙂

parker ellis Avatar

parker ellis

Mansi Sanghvi has been nothing for of remarkable for me. I have been dealing with a visa, immigration issues , and any time I have to call her, she has been there to answer any questions. Has answers to every question and is there to HELP YOU. Truly could not recommend her more.

Domenico Orsi Avatar

Domenico Orsi

Bansuri was great help on the phone today. They were able to swiftly set up an appointment and facilitate all of my needs and questions.