Options for seniors with 250000 CAD in the kitty

[newcanadian2700]

PR isn’t guaranteed. As I mentionned In your other post you seem to make longterm plans as if PR is guaranteed. PGP is only renewed annually with no guarantees and the demand for parent sponsorship far exceeds the number of spots. Not sure if you have been following the news but healthcare resources has become a major new item and is finally getting the attention it deserves. With the focus on millions without GPs,ER closures, nurses leaving the profession is huge numbers, a pandemic and an ageing population many already with status in Canada may be shocked to discover that PGP exists. If they do there will be a discussion about whether the PGP program is feasible and in such large numbers. Countries with similar immigration profiles and similar healthcare challenges, like Australia, don’t allow parent sponsorship with access to public healthcare.

But good points indeed.
I really appreciate your insight

 

[newcanadian2700]

Can you not invest in North American stocks using home country's bank account??

That is possible yes..

 

[Cassiano]

Hello,

My parents shall move to Canada soon. I already own two homes adjacent to each other and they shall be moving to one of the homes. I will be paying the mortage for both the homes( 3500 CAD in total, a month )
My annual income is 180000 CAD a year and Canada taxes me to death already.

I was wondering what investment options are available for my parents who are on a super visa.

My father is 70 and my mother is 62...I was thinking of buying an annuity for my mother for 100000 CAD which will give them an income of 530 CAD a month.
My questions are,

1) Are my parents eligible to buy an annuity from a Canadian bank as non-canadians on a super visa?
2) What other options are available with the remaining 150000 CAD? A second annuity wont make sense to me.

Please note my parents are not canadians. I don't want anything on me since i am already taxed to death.

this might be an option for you
https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/permanent-residence/humanitarian-compassionate-consideration/intake-who-may-apply.html
I used it with my 80-year-old father

 

[steaky]

this might be an option for you
https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/permanent-residence/humanitarian-compassionate-consideration/intake-who-may-apply.html
I used it with my 80-year-old father

But are they eligible? Since they are super visa holders, do you think they would be inadmissable?

 

[Cassiano]

But are they eligible? Since they are super visa holders, do you think they would be inadmissable?

H&C is a Permanent Resident for those which could no be in any economic application
the money is not the point.
the could use the super visa to live in Canada with the H&C application is in process.

You should contact any legal representative for help

 

[canuck78]

H&C is a Permanent Resident for those which could no be in any economic application
the money is not the point.
the could use the super visa to live in Canada with the H&C application is in process.

You should contact any legal representative for help

This is far from guaranteed and if you apply and are denied your parents may have trouble visiting in the future. There is a specific program for parents to be sponsored. H&C is reserved for exceptional circumstances. Given their age and that they have each other chances of approval are even lower. An example of a single parent that was denied.

https://decisions.fct-cf.gc.ca/fc-cf/decisions/en/item/421303/index.do

 

[canuck78]

H&C is a Permanent Resident for those which could no be in any economic application
the money is not the point.
the could use the super visa to live in Canada with the H&C application is in process.

You should contact any legal representative for help

H&C is for very exceptional circumstances where supervisa isn’t an option, no family in their home country and they are unable to care for themselves but also not too sick to put excessive demands on the Canadian healthcare system. It isn’t a replacement for not getting selected for PGP. Plenty of parents who apply get denied. Some do get accepted but the members who determine who gets approved/refused are pretty strict in enforcing that H&C isn’t a replacement for those who don’t get selected for PGP. Supervisa was just extended to reinforce that supervisa is an option for parents who want to visit longterm. As a.ready indicated if applying for H&C and you get denied you’ve declared that your parent wants to remain in Canada permanent,y which can make visiting much more difficult.

 

[Cassiano]

This is far from guaranteed and if you apply and are denied your parents may have trouble visiting in the future. There is a specific program for parents to be sponsored. H&C is reserved for exceptional circumstances. Given their age and that they have each other chances of approval are even lower. An example of a single parent that was denied.

https://decisions.fct-cf.gc.ca/fc-cf/decisions/en/item/421303/index.do

yes,,, I did with my father and it worked, thanks

 

[canuck78]

yes,,, I did with my father and it worked, thanks

You may have gotten lucky. It seems to be becoming more difficult since many more are using H&C as an alternative to PGP. One of the reasons Supervisa timeline has been increased. It is a big risk especially given both parents are alive and they are young.

 

[Cassiano]

You may have gotten lucky. It seems to be becoming more difficult since many more are using H&C as an alternative to PGP. One of the reasons Supervisa timeline has been increased. It is a big risk especially given both parents are alive and they are young.

my father is 83