In any case it should come as no surprise to learn that wealthy Chinese are house hunting in Vancouver.
Mainland Chinese interest in Metro Vancouver property is so strong that it's fuelling a market for real estate tourism, with groups of wealthy travellers scheduling visits to the city for the sole purpose of house hunting.
This is not uncharacteristic of the wealthy who buy property globally. But this isn't the story of a wealthy American buying land in the French countryside. This is about a considerable amount of land being purchased by people of a particular nationality, in this case China. According to the story it is common for 90% of interested buyers to be from mainland China. These are people who are not even Canadian citizens but have displayed an interest in Vancouver's high end real estate market.
I don't know why they are considering buying a second home in Vancouver when they are not even Canadian citizens yet I get the feeling that to these Chinese house hunters Canadian citizenship is a given.
Scarrow said he is aware of other such trips that have been arranged in the past, and when the Mainland Chinese visitors do not have their immigration status in Canada sorted out, they are more reluctant to buy homes.
The trips, he added, are more a chance to get a "lay of the land" for what Metro Vancouver's neighbourhoods are like and what types of homes are available before securing landed immigrant status.
To date, Scarrow said, the preference for Mainland Chinese emigrating to Canada have ranged from Coal Harbour condominiums to single-family homes in Vancouver's leafier enclaves of Shaughnessy, Dunbar and Point Grey.
Vincent Chen, a representative for the Chinese immigration consulting firm Visas Consulting Group, said Canada is presently the most popular destination for Mainland Chinese using his firm. They are attracted by its quality of education, quality of life, the safety and stability of Canadian society and its "attractive investor immigrant program."
The ""attractive investor immigrant program" is nothing but citizenship for sale. It's a sham introducing sham Canadians into the country. It works something like this. You promise to invest so much in the country, produce a least one job, and TA DA, instant Canadian.
Ever wonder why so many groceries and corner stores are owned and operated by Asians? Now you know. It's a joke really. These wealthy mainland Chinese can purchase a Tim Hortens franchise. Then they can sell their share in the business if they so wish, take a loss perhaps, but in the end they get Canadian citizenship on the cheap. And what a bargain. With it you get socialized medicine, a subsidized education for your children, and social services for your aged parents. Then you can go back to China to evade Canada's tax regime because Canada allows dual citizenship (whereas China does not).
Vancouver is a choice destination because un-assimilating Asian immigrants have turned it into a virtual Chinese colony. So are they really immigrating to Canada or to a Chinese colony on the North American continent?
This is a problem. They are creating a city that has more in common with Beijing then the rest of Canada and in turn can transform British Columbia into a Quebec of the west coast.
If Honk Kong immigrants taught us anything these wealthy mainland Chinese will be sham Canadians were they to immigrate to Canada. They should be discouraged from immigrating here. They are not interested in Canada or Canadians only in how they can capitalize off of Canadian society. They are already wealthy and they are not coming here in search of a better life. We don't need them or want them. Some reasonable solutions is to make residency requirements more demanding. The other is to tax overseas incomes of Canadians.