The immigration Minister of Canada, Chris Alexander had been in Hong Kong on 19th March, 2014, where he spoke to the Chinese media about the program, the 'federal pilot'. The main aim of the program is to attract wealthy immigrants of Hong Kong to Canada, further to the Canadian government discarding its immigrant investor program.
The federal government had announced in the February budget that it was discarding its immigrant investor and entrepreneur programs.
The budget had stated that there was insignificant evidence that the immigrant investors as a category have improved or enhanced their ties with Canada or they have contributed to the country economically. On the whole, according to the report on the migrant investors, the investment and the employment have been much below the average levels of Canada and they have also paid insignificant taxes during their stay in Canada to the government of Canada, when compared to the immigrants who belong to the other economic categories.
Chris Alexander has told the South China Morning Post, a Hong Kong newspaper, in an interview that the new ‘federal pilot’ program is on the way to attract the wealthy immigrants from overseas.
According to the article posted by the South China Morning Post, under the ‘federal pilot’ program the immigrants who are wealthy would lend for more than 5 years, at least 2 times the amount that they were made to pay under the old program. The finance would be managed privately under the program of ‘immigration investor venture capital pilot’.