Federal Budget: Citizenship

citizenship: Many criticized the program as a way for rich foreigners essentially to buy citizenship and live abroad without creating jobs or economic growth in Canada. The plan, which was ended in Tuesdays budget, allowed foreigners with a net worth of more than $1.6-million to gain residency and potentially citizenship by lending the government $800,000 that would be paid back in about five years without interest. More Related to this Story, according to Globe and Mail. Budget Thirteen must-know items from the 2014 federal budget Even among those who immigrated to Canada through the federal governments immigrant investor program, the initiative was viewed as a flawed, inefficient way to lure wealthy entrepreneurs who could benefit the economy. Immigration Tories new budget to close program giving investors path to citizenship (www.immigrantscanada.com). As reported in the news.