Canada's new millionaire visa scheme 'will only accept 50 applicants per year'

Tiny scheme would thwart 45,000 rich Chinese who were dumped from investor immigration queue

Ian Youngin Vancouver
Chinese immigrant investors earlier this year were hugely disappointed by the Canadian government's plan to shut down the scheme. Photo: Simon Song

Canada looks set to replace its immigrant investor programme with a tiny new scheme approving just a few dozen applicants per year, immigration industry sources said, dashing the hopes of thousands of Chinese millionaires whose applications were scrapped when the IIP was halted in June.

Two sources said they were consulted by Canada’s immigration ministry in recent months and were told the new scheme would only accept 50 applicants plus dependents annually.

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