The Council for Global Investor Immigration has warned that the Canadian Investor visa program which is the most popular program in the whole world is facing an uncertain future and it also leaving many potential immigrants in the limbo.
Over the years, the program for investor visa in many countries like the US, Hong Kong and Canada had been most popular over the current years. But Mykolas Rambus, GIIC Chairman had said that these initiatives are not clear when they go forward.
Pointing towards the US program, which reaches its limit in the year 2014 and now had a big backlog of the applications. He said that if the visa limit is not changed, it will not grow.
Canada closed its program in the previous year, and the Quebec program is operating continuously. He said that it would not have capacity for meeting the existing demand.
Meanwhile, the Scheme for Capital Investment Entrant was suspended by Hong Kong in the start of this year.
Chinese citizens can be on waiting list for up to 3 years before their US visas under EB-5 get approved.
The figures from the report of GIIC investor-immigration reveals that when federal program was closed down in Canada, there were almost 65,000 applicants which were unprocessed. 70% of those were citizens from China.
Almost 16,000 investors were given approval for Investor visa program of Hong Kong over last four years. And as per Rambus, many potential immigrant investors would be forced to look for other countries.
He also said that the UK program still has the capacity to grow, but the latest doubling of investment threshold might restrict for wealthy applicants.
For the individuals that are worth high net who are looking for the alternative residence, Rambus says that the emerging programs like the ones in Greece, Hungary, Portugal, Spain, Latvia, and Bulgaria are the most affordable and would grow.
Programs of Investor visa allows the individuals to reside and work in the country if they make an investment.
According to a report which released its data in June, reveals that the Chinese citizens who apply for the investor visa of the UK got tripled in the year 2014.