Yeah, sounds like a subsidy for the "venture capital" industry. Better to stick to a modest, points based, legal only immigration program rather than have some of the wealthiest people in a society decide who can immigrate. As far as "guest workers", I'd guess the solution is open it to all professions and let employers bid on a small quota. That'd ensure we get "the best and brightest".
I tend to think that if someone is willing to pay $250k for permanent residence, they should be allowed to do so. I mean, most immigration laws are against the poor and uneducated, and not the rich guys who are bringing their wealth and knowledge to a country.
edit: the focus is not on the amount, it can be whatever amount the government sees fit (e.g. $800k as mentioned below). I just don't see any problem that the wealthy ones can buy a residence / "retirement plan" / whatever you name it.
Actually it costs a lot more than $250k to get permanent residence. According to the current program, you have to have a minimum net worth of 1.6 Million and visit $800k (all values Canadian)
You are referring to the Immigrant Investor program, which is on hold.
The Start-Up Visa program does not require any investment from foreign entrepreneurs. It simply requires that the start-up itself have a funding commitment from a designated angel investor network or acceptance to a designated incubator network.
Part of what makes the program so historic is that it offers permanent resident status (the Green Card) right from the start. This is not affected whether the business fails or succeeds. This program actually recognizes the risk that entrepreneurs take.
The trouble with this is that the cost of an individual to society may in fact exceed $250K easily, especially in a socialist country like Canada. Health care, retirement benefits, subsidization of all manners of things predicate on a lifetime of taxation - $250K would be a steal to buy into this. Otherwise you're essentially selling the cheapest retirement plan in the world.
Not to mention $250K is not a substantial amount of capital to bring into an economy. Canada has an investment-track immigration program, the sticker price is well north of $250K at this point and come with requirements for employing Canadians (citizens or PRs) as well as minimum funding and duration.
I imagine people taking part in the startup visa programme will be subject to the usual health checks.
When applying for Canadian PR you have to satisfy the government that you won't place "excessive demand" on existing health/social services within Canada.
The figure is currently set at $30,705.00CAD over 5 years ($6,141.00CAD x 5). eg, if you have an autistic child and they require a teachers aide that costs more than $6.1k/year you won't be eligible for PR.
