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  Canada Immigration Forum > Immigration & Citizenship > Business Class > Got Rs 45 lakh? Buy Canadian citizenship
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Got Rs 45 lakh? Buy Canadian citizenship




http://timesofindia.indiatimes.com/Got_Rs_45_lakh_Buy_Canadian_citizenship/articleshow/1986275.cms

NEW DELHI: Those who have reportedly been paying sums like Rs 30 lakh to become kabootars (illegal migrants) may have missed a trick. For as little as Rs 45 lakh, an entire family can become Canadian citizens completely legally. In fact, for a somewhat larger amount, a family could get become citizens of the US, UK, Australian or New Zealand too.

The majority of Indians hankering to settle abroad may not know this, but many Indian businessmen have been utilising schemes floated by these countries to gain citizenship in return for investing a few hundred thousand dollars there. Whats more, some foreign banks are even willing to part-finance your investment.

Governments in the US, Canada, UK, New Zealand and Australia, among others, are offering citizenship to anybody (and his/her family) who is willing to invest a certain minimum sum in their country. The sums vary in each case, as do the strings attached.

In the UK, citizenship comes with an investment of 750,000 (about $1.5 million or a little over Rs 6 crore). In the US, $500,000 (Rs 2 crore) will get you and your family citizenship, for New Zealand a million New Zealand dollars (Rs 3 crore).

In Australia, there is no minimum investment stipulated. However, a commitment to start a business within four years will do the trick.

In the case of Canada, the stipulated minimum investment that gets you automatic citizenship is 400,000 Canadian dollars or about Rs 1.4 crore. However, a major Canadian bank, Desjardins with assets of $130 billion and ranked 92nd internationally has come up with its own scheme under which it will finance around 70% of the amount if the investor makes a down payment of 30%. That means just Rs 45 lakh will do to get you Canadian citizenship.

Citizenship-for-investment schemes have been around for a couple of years in most cases, but Indians were unable to take advantage of them as they were not allowed to invest more than $25,000 per year abroad till December last year. With the RBI increasing the limit from $25,000 to $50,000 and then to $100,000 last month, buying foreign citizenship has become possible. A family of five, for instance, could take out $500,000 in one go without violating RBI guidelines.

Desjardins offer is a recognition of this fact. Explaining the scheme, Marc Audet, vice president of Desjardins, told TOI that the bank offers a scheme under which one needs to deposit only C$120,000 with the bank. The bank will finance the remaining C$280,000 to file the application for permanent residency (which entitles you to citizenship after two years) in Canada.

The C$400,000 are invested in interest-free Canadian government bonds. After five years, when the government returns the money, the bank will keep all of it.

In effect, the C$120,000 you pay upfront becomes the interest earned by the bank on the C$280,000 that it lends you to file the application.


 
jayaram

Senior Desi
Member since: Jun 04
Posts: 298
Location: Calgary

Post ID: 99547 01-05-07 16:50:41
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Ottawa_Nerd
Senior Desi
Member since: Jan 04




Posts: 1754
Location: Ottawa (Now in Bangalore)


Ha Ha Jayaram, you beat me to it :)

Well anyone willing to shell out 45 Lakhs ? (afterall it costs that much to buy an aprtment in Bangalore)

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"Aur Vaise Bhi, Sharafat ki jab kapde utarti hai, sabse zyaada mazaa shareefon ko hi aati hai"....(From The Dirty Picture)

Warning !! SCAM ALERT !!
http://www.canadiandesi.ca/read.php?TID=4169 & http://www.canadiandesi.ca/read.php?TID=1379
This is a Useful Health related Tip
http://www.canadiandesi.ca/read.php?TID=3865
Please visit
http://www.cmje.org/religious-texts/quran/verses/009-qmt.php for some interesting Information ! (Especially 009.005 )

 
Post ID: 99551 01-05-07 17:55:01
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chandresh
Senior Desi
Member since: Mar 03




Posts: 2604
Location: Toronto


This is very old news!

I almost decided to do it for USA about 10 years ago.

Chandresh

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Chandresh

Advice is free lessons I charge for!!

 
Post ID: 99552 01-05-07 18:00:03
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mynameisraj
Senior Desi
Member since: Dec 06




Posts: 296
Location:


Forget about the wealthy businessman who have the money and refugees from war ravaged countries. What's the incentive for an "aam aadmi" from India? What could drive an Indian to spend that much money to be a citizen of the US/UK/Canada in this day and age?

 
Post ID: 99555 01-05-07 18:47:56
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DesiGuy1981
Senior Desi
Member since: Mar 07




Posts: 282
Location:


wat if u invest that kind of money in canada?
see..we all are PR holders in canada..me, my brother my parents..my oldest sister filed for us..my other sister..passes age 22..so she didnt get her PR..
we all came from states..so we brought her as refugee..
this was 3 yrs ago..
now her case is denied..got her deportation letter as well...
she proly leave soon..
we even bought a house..and her name is included in it..but the immigration people wudnt care..
anyways
lets say if she goes back to india..and if she tries to come on those points visa thing..
wud her Amrican study and wrk wud cout as point?
and she been wrking for AMEX for 2 yrs? wud it count as points?

im sorry if im breaking any rulez of canadiandesi.com
thanx


 
Post ID: 99556 01-05-07 20:39:47
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jayaram
Senior Desi
Member since: Jun 04




Posts: 298
Location: Calgary


Quote:
Originally posted by chandresh

This is very old news!

I almost decided to do it for USA about 10 years ago.

Chandresh



Yes the system was in place. But I did not know some financial companies are willing to finance rest of the amount. So you put 30% down and rest loan from finance company.
Look a lady who paid Katara agents 30-40 lacs and got caught to immigrate illegally. This is not a bad way coming legally here.


 
Last edited by: jayaram on 02-05-07 15:20:42
Post ID: 99592 02-05-07 15:20:11
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7wonders
Senior Desi
Member since: Aug 03




Posts: 518
Location: Toronto


I read the same story on Akila News today(Gujarati News paper). I guess they are stealing our "Charcha":(
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http://www.youtube.com/watch?v=YMVuD_in67M

E mere vatan ke logo.............

If you want to do something for our country, just dont support corruption or be part of it

 
Post ID: 99600 02-05-07 17:22:14
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pratickm
Global Moderator
Member since: Feb 04




Posts: 2824
Location: Toronto


Quote:
Originally posted by chandresh
This is very old news!
I almost decided to do it for USA about 10 years ago.
Chandresh

From what I remember, this option is country specific and in most country is not available for Indian citizens.
For example, in the USA, this option was never open for Indian citizens - unless something has changed recently.

Are you certain this option is valid for Indian citizens in the countries you mentioned (Australia, UK, etc.)?

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

 
Post ID: 99628 03-05-07 08:04:45
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GlobalIndian
Senior Desi
Member since: Apr 07




Posts: 164
Location: NB

Once you are here...
Well you collect all that money, pay it and then arrive here. Then what? Are all problems solved once you arrive here? Crazy desis.

 
Post ID: 99664 03-05-07 14:42:53
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