1. Now-defunct Canadian Immigrant Investor program allowed you to buy permanent resident status in Canada, thus avoiding any potential future tax discrimination against foreigners. Unlike the US Green Card, Canadian PR status is permanent, affords all the privileges of citizenship except voting, and can never be revoked, even if you join a foreign army to fight Canada. A similar incarnation of this program still exists in Quebec (and allows you to move to Vancouver on day 1).

So not only can you buy property in Vancouver, but you can send your family over without worrying about any immigration troubles and always know you will be able to come live here if you desire.

2. Canada allows unlimited cash to be brought into the country tax-free as a gift to a relative.

3. Any gains from property speculation will be tax-free if a spouse or child claims the property is their residence. See (1) about ease of getting immigration status for your family.

>Canadian PR status is permanent.... and can never be revoked

That is incorrect. It can be revoked if the PR does not remain in Canada for at least 2 years of a 5 year period after it was issued. After the 5 year mark, most PRs have already transitioned to citizenship. http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=727&...

You are correct. PRs must be in Canada for 2 of every 5 years, unless they obtain citizenship. I apologize for the error.

Also note that provincial/federal governments are willfully ignorant about these issues.

That explains why foreigners move to Canada. But why do they pick Vancouver among all Canadian cities?

There's a large existing Chinese population and Canada has a stable legal system (e.g. no worry for property rights). Seattle has a similar phenomenon, though not as extensive because there is more local competition. NYC has one with Russia (though that is diminishing thanks to cheap oil).

I can't answer that, but I can add that it is quite common in London too. I can see the allure of the "park my millions in property in the world financial capital" investment strategy, but I don't get the Vancouver version. That's not meant as a slight on Vancouver.

You can't buy a UK or US passport. You can buy a Canadian one.

http://www.immigration.ca/en/immigration-wiki2/151-updates/7...

What about an EB-5 visa? Isn't that somewhat similar? This doesn't directly buy a US passport, but it does allow for citizenship within a few years (and then, by extension, an American passport).

You don't get a passport, you get a Permanent Resident Card.

Which then allows you to get a passport....

If you move to Canada and maintain residency for X number of years.

You just need to make it look like you actually are resident.

They ask for a list of trips you took outside of Canada and check that against your passport stamps. Canada has also started doing "exit checks".

Not saying they always dig into the data to see if you're lying, but they could...

Wasn't there that guy convicted in NS recently convicted of facilitated PRs staying outside Canada? As a Bayesian, that makes me think it is pretty widespread.

So it's not a home run, but it still sounds like a good deal to me - especially if I was an Oligarch keen to put distance between myself and the FSB

because most of them are from china, and vancouver is on the west coast, has a large ethnic chinese population, and is for all social and economic intents and purposes the same as the US.

When HK was getting turned back over to China, there was a lot of concern and Canada (Vancouver, Toronto etc.) became destinations of choice for many people.

This obviously isn't the only contributing factor but I know lots of people that have gone through this migration pattern.