I don't agree with the concept IF it's true but I wonder if the OP has their facts straight, there's nothing on RAL website or any of the other agencies, and to the best of my knowledge the 500 hours on type is a CAAV requirement in order to validate the type rating for expat pilots.
However ... even if it was true ... I'd still grab it, because why would you want to walk out on the bond anyway? VAC 777 F/O is one of the best jobs out there and getting in here non type rated would be a real opportunity. Great country to live in if you come here with an open mind, money is pretty good especially considering it's such a cheap place to live, and it's about half the workload of most other longhaul jobs. Just ask the guys who have recently left Emirates to come here.