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  #1 (permalink)  
Old 05-01-2007, 04:33 PM
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sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts sledge_hammer is infamous around these parts
Default Got Rs 45 lakh? Buy Canadian citizenship

http://timesofindia.indiatimes.com/G...ow/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. What’s 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.
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  #2 (permalink)  
Old 05-01-2007, 04:50 PM
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rb_248 has much to be proud of rb_248 has much to be proud of rb_248 has much to be proud of rb_248 has much to be proud of rb_248 has much to be proud of rb_248 has much to be proud of rb_248 has much to be proud of rb_248 has much to be proud of rb_248 has much to be proud of
Default

Quote:
Originally Posted by sledge_hammer
http://timesofindia.indiatimes.com/G...ow/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. What’s 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.
AND STAY IN DEBT FOR REST OF YOUR LIFE?????
Without a good business plan, this is not going to work.
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  #3 (permalink)  
Old 05-01-2007, 04:59 PM
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Talking Why would someone do this

If a person has 2 crores to invest in a shaky foreign citizenship scheme( MY GOD !! ..how much money will he have in total then ) , why would he come to the US or any other country for that matter . He will live life kingsize in India and would not want to spend 2 crore and then stuck in a name check for 5 years . . His name will get stuck for having too much money . . It just like " When a person can buy a Mercedes why will he think about the gas mileage "
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  #4 (permalink)  
Old 05-01-2007, 05:05 PM
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Default do they have anything like this in US?

do they have anything like this in US (like Desjardins’ scheme)?
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  #5 (permalink)  
Old 05-01-2007, 05:07 PM
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45 Lacs for Canada. Not worth it... Canada is not even worth 1 lac. I don't know why people go there to live in -30 -40 degree centigrades. Our country also have food. It's like whatever it takes I don't want to live in my country no matter what!!! even if it is Bangladesh..
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  #6 (permalink)  
Old 05-01-2007, 05:32 PM
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Default Shame

I dont know why people want to sell themselves. Are you guys so desperate to buy these things when you have wonderful homeland.

Again we are all calling ourselves "HIGHLY SKILLED" and we are "BACKBONE" of future world. If this is true, then you should be welcomed by default and no need to beg.

It is only for desperates who lives below certain ........
__________________
PD march 2004
1st 140 approved.
2nd 140 approved on Sep 5,2007.
(me and my spouse below)
485 - Filed on July 2,2007
485 - ND - Aug 08,2007
FP - Sep 06.
EAD - Oct 1st

Contributing 10 or 20 is always a pain when you have the option of getting it free.

Pledge: I am contributing monthly $25 to IV
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  #7 (permalink)  
Old 05-01-2007, 05:33 PM
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Default Bollywood's like Kapoors sisters

2 croroes...pocket money for these people...they open couple sabji mandi and there you got citizenship..again its the Rich that's got priveleges where they go..for us stand in line...
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  #8 (permalink)  
Old 05-01-2007, 06:53 PM
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You could have made your point without degrading two countries Canada and Bangladesh. I don’t know where you are from but you seem overly proud of your home country and you should be but that doesn’t give you any right to insult any other country. If you are so proud of your homeland, may be you should have stayed there rather than abandoning it for an American dream.

This is a public forum and there may be IV members from those countries who would not appreciate your comment just as I didn’t.


Quote:
Originally Posted by mirage
45 Lacs for Canada. Not worth it... Canada is not even worth 1 lac. I don't know why people go there to live in -30 -40 degree centigrades. Our country also have food. It's like whatever it takes I don't want to live in my country no matter what!!! even if it is Bangladesh..

Last edited by GCard_Dream; 05-01-2007 at 07:32 PM.
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  #9 (permalink)  
Old 05-01-2007, 08:05 PM
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coolstonesa will become famous soon enough
Default How stupid...

How stupid and naive of you to post this kind of remark.


Quote:
Originally Posted by mirage
45 Lacs for Canada. Not worth it... Canada is not even worth 1 lac. I don't know why people go there to live in -30 -40 degree centigrades. Our country also have food. It's like whatever it takes I don't want to live in my country no matter what!!! even if it is Bangladesh..
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  #10 (permalink)  
Old 05-01-2007, 08:49 PM
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Forget Rs. 45 Lakhs, i wouldnt even pay Rs 45.00 for the damn thing!!
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Old 05-01-2007, 09:13 PM
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Default Question regarding getting citizenship

I am already a PR of CA. To be a citizen of CA, can I just invest 45 lacs rupees and becomes citizen without living in CA ? Or do I have to live there, run a business and only then I become a citizen. The question is .... IS passive investment of Rs 45 lacs also eligible to make one a citizen ?

Quote:
Originally Posted by sledge_hammer
http://timesofindia.indiatimes.com/G...ow/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. What’s 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.
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  #12 (permalink)  
Old 05-01-2007, 11:26 PM
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You know I once had a very high regard for TOI. But pretty much all their reporting on Immigration issues is factually incorrect.

Veterans of this and Immigrationportal site will remember how they published false reports that law increasing green cards had passed when in fact only senate had cleared it.

Also look at this report. First of all Canada will not give Citizenship. It will only give PR. I guess Indian journalist sitting in India has no clue what the difference is between PR and Citizenship.

Secondly even if you have 45 lakhs no bank will give you the remaining funds without a solid business plan and /or other assets or experience of doing business. Im not sure of the details but im sure its not as simple as depositing it in a passive investment.

Finally to all Canada haters, no one asked you to move or apply there. Some of the folks diparaging Canada havent eveb been there but go by heresay. For those attacking Canadian weather you are also pretty much talking about the same weather in 1/3 of the US from East coast to Midwest. Toronto is no colder than Detroit or Chicago.
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  #13 (permalink)  
Old 05-02-2007, 12:11 PM
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miguy is infamous around these parts
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Quote:
Originally Posted by AirWaterandGC
I am already a PR of CA. To be a citizen of CA, can I just invest 45 lacs rupees and becomes citizen without living in CA ? Or do I have to live there, run a business and only then I become a citizen. The question is .... IS passive investment of Rs 45 lacs also eligible to make one a citizen ?

dude, you sure got lots of money. Why don't you invest that money in a business and reap benefits or better just take that money to India and retire.
I am not sure how getting Canadian Citizenship will help your cause.
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  #14 (permalink)  
Old 05-02-2007, 12:14 PM
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miguy is infamous around these parts
Default

for all of you canada haters....it atleast gives you free healthcare even if you dont have a job....try getting that in US without a job....as far as the weather is concerned, as the other poster mentioned, it is not any worse than detroit, chicago, minneapolis weather.....either live in the GC rut forever or move on to other options in life.
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  #15 (permalink)  
Old 05-02-2007, 01:15 PM
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dan19 is on a distinguished road
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I don't quite understand why "TIMES OF INDIA" had this as a main heading for yesterday. Is there no quality news in India????

Another reason for rating the Times of India as a third-rated tabloid!
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