Naomi Alboim: Canadian Residency

Canadian residency: The government stopped accepting applications from foreign investors in 2012 under the program founded in 1986. The Immigrant Investor Program offered permanent Canadian residency in exchange for a three-year investment of at least $150,000. It is expected to be replaced with a new program that will match skilled immigrants with labour market needs, according to Huffington Post. While it was a very popular program in its heyday, with far more applicants than admissions, it was not a very successful one, said Naomi Alboim, a Queen's University professor who has written extensively on Canadian immigration policy and A controversial program that gave immigrant investors a fast track to citizenship was abolished in the 2014 federal budget. The long-standing program has been criticized for allowing wealthy foreigners to buy their way into the country. (www.immigrantscanada.com). As reported in the news.