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Ban Quebec Immigration Investor Program Like Other Provinces

This petition had 31 supporters

The immigration investor programs have been very popular in helping foreigners (especially those from Asia) to move their wealth out of their home country. Initially the government believed this to be a way to help our economy until they realized that the foreigners just abused the program to hoard all the real estate (particularly in Vancouver) resulting in a marginalization of locals while providing no economic benefit. This led the provinces (except Quebec) to close down these programs. Although wealthy foreigners are using the Quebec Immigration program to find their way to Vancouver and buy real estate resulting in no benefit to Vancouver and Canada as a whole. 

As Peter O'Neil from the Vancouver Sun states "Immigration Minister Chris Alexander echoed complaints from predecessor Jason Kenney, who said in June that some immigrants are engaged in a “fraud” that enriches the Quebec government while costing taxpayers in B.C. and elsewhere a bundle." - August 2, 2013.

I am urging everyone to sign this petition to put pressure on the politicians to take action and

1. Close down the Quebec Immigration Investor program loophole which allows applicants to purchase residential real estate in places like Vancouver where there is not enough supply for the locals.

2. Exclude residential real estate from future programs as a source of satisfying investment criteria on application form. Investment should be something of real economic Value to Canada and real job growth outside of residential real estate.

Starter homes which an alarming number of growing families in Vancouver rely on for them and their loved ones are getting snapped up off the markets by developers who build and then sell to these wealthy foreigners at large premiums (hundreds of thousands from these large premiums are being used to over bid starter homes that the locals desperately need).  Many of these individuals buying do not work in our city to provide economic benefits, many don't spend a lot of their time in this country, many report poverty levels of income, etc.  

Quebec must surely know that there bottom line would be affected if they required individuals coming from THEIR program to be required to be in THEIR province and not using it to find their way to Vancouver.  To dump the burden and tax bill on Vancouver while Quebec reaps the benefits and effects the lives of countless Vancouverites is not something this country should allow.

We risk hurting businesses and jobs if the Vancouver core is being littered with homes for people with no desire to contribute economically resulting in pushing out valuable working class citizens needed by downtown and surrounding businesses. If the foreigners were providing economic benefit and paying their share of taxes for the services used then that is one thing but that is not the case.  I urge everyone to help get enough people signing this petition to where we can get traction of the media to bring this to the forefront.


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