Canada Residency (Investor)

Canada Permanent Residency

There is no denying the fact that among all the major world immigration hotspots Canada immigration has got the popularity all over the world and its most promising immigration program which offers Canada PR – Canada Permanent Resident Visa has garnered attention by the would be migrants and others. Frankly speaking, it is really Canada Immigration which motivates these people the most; in fact, like any and everything. A remarkable figure of the migrants to the country want to gain the nation’s prized and much sought after Permanent Residency (PR) status, and become its Permanent Residents, for understandable reasons. It is commonly said that Canada is world’s number one immigration destination.

Who Actually Is Canada Permanent Resident?

Canada Permanent Resident or Canada PR is essentially a person, who does not have the country’s citizenship, but has been provided with the permission to simple reside, and/or do a job or business or invest inside the nation’s territories, minus any kind of restrictions at all on time-period put on his stay in Canada on Permanent Resident Visa. Any employer can employ you and a Canada PR cardholder does not need a work permit to take up a job in Canada. Likewise, businessmen can do any business or invest in any area or part of Canada by just meeting the regulatory requirements for doing such investment or starting or running such a business. There are specific Canada immigration program for skilled professionals and businessmen and investors.

Despite the fact that the nation’s permanent residents carry on being their home country’s citizens, they also enjoy certain rights & privileges in Canada as well. Practically, they can enjoy all the rights of a citizen except for right to vote in elections and Canadian passport. It is another matter that in order to maintain their position as a PR, they have to satisfy certain mentioned duties involving residency. For instance, it is necessary that they reside inside the Maple Country, for at least two years out of every five years to maintain their cherished permanent standing. New regulations are in the pipeline whereby a Permanent Residence card (PR CARD) holder of Canada would be required to stay in Canada for at least 4 out of 6 years to retain residency and in addition may be required to stay for 6 months out of every 12 month period. Keep visiting this website on regular basis to get updated immigration news or simply subscribe to our newsletter to know as and when this proposal become law!

Significantly, every permanent resident is given what is known as the Permanent Resident Card (PR Card); it’s the certified proof of his unique position as a permanent resident of the nation. He has to produce it whenever the involved officials ask him for it. PR card permits a person to travel outside of Canada and re-enter country. Those entering the country on a short-term basis like an international student and/or a temporary overseas worker lacks Canada’s PR rights and is not a permanent resident.

Canada Permanent Resident Vs Canada Citizens

Some people over and over again fail to differentiate between a Canada Permanent Resident and a Canada Citizen even as they think the rights and obligations of these two are quite parallel. Yes, it’s a fact that there is hardly any remarkable dissimilarity between the rights and responsibilities of a Canadian permanent resident and a Canadian citizen. Both possess the same right to get professionally associated with any company, apart from the federal or provincial administration (some checks do exist). In addition, the permanent residents much like the citizens have the right to join the nation’s defense forces.

Still, the Canada permanent residents do not have several rights, as compared to the citizens of the nation. For example, they do not have the right to vote; they cannot contest for any kind of elected office; and much more importantly, possess the nation’s passports. Apart from this, unlike the citizens, the permanent residents could be deported from the country for grave crimes committed inside the nation’s territories. Last but not the least, although it is fact that the permanent residents have a right to submit a submission for citizenship, post 3 years inside Canada; it is not binding.

Canada Immigrant Investor program

It is generally observed that businessmen and investor applicants looking for immigration visa have purpose beyond getting a residency status. Under majority of situations, they would like to continue their current businesses and also have an alternate residency status in another country of repute. This is for the reason that they do not wish to close their current business and income stream and the safety that it offers. They would like to use this stream to fund their business operations in destined country. They understand that having an alternate residency status also offers higher studies platform to their children. It is in this context that the Canada Immigrant program scores over business and investor immigration programs offered by other countries and even by Canada. Canada invites business, investors, high net worth individual, senior executives to apply for immigrant investor visas under the entrepreneur and investor programs. Visa applicants for this program require do not face age and language- English or French- restrictions. All that they are required to prove is that they have minimum identified personal net worth and carry identified years of management/business experience.

Benefits of permanent resident visa under the Canada Immigrant Investor Program

A Permanent resident visa under the Canadian Immigrant Investor program offers direct and indirect benefits to the visa holder and his family.

  1. Offers an unconditional alternate residency option and future citizenship of Canada Offers the visa holder an option to live anywhere in Canada.
  2. This option permits the holder to use the status for any purpose- take up a job, residence, Business and Taxation planning or use it as Holiday home or for retirement
  3. Offers the applicant and his family an opportunity to enjoy amongst the best of quality of life in the world, in an almost pollution and corruption free environment.
  4. Offers preferred admission (as a resident) and highly subsidized education at higher University levels education opportunity – for self and children;
  5. Permits the holder to Use Canadian financial and banking system for expansion of his existing and worldwide business operations.
  6. Offers to the holder an Opportunity of using it to create and grow his personal credit rating and that of his business;
  7. Offers an opportunity of making Canada his business base, take advantage of NAFTA and promote his business interest in whole of North America
  8. Use this opportunity of starting a Canadian business that may be managed by his children in future Highly subsidized, world-class medical facilities for the entire family

Quebec Immigrant Investor program to Canada

Introduced in 1986, the highly successful Quebec Immigrant Investor Program (QIIP) offers qualified high net worth individuals and families worldwide the opportunity to immigrate to Canada through the Province of Quebec. With the recent closure of Canada’s Federal Immigrant Investor program, the exclusive QIIP is the only Canada investor visa of its kind currently available to international business people, and it boasts the exact same investment standards as the former federal program.

According to the Reputation Institute, Canada is the “most admired” country with the “best reputation” in the world, and the modern and safe nation offers immigrants a fantastic quality of life in a pluralistic society, all at an affordable cost of living. Successful Quebec Investor Program candidates will be granted an unconditional Canada Permanent Resident Visa and may immediately start living, working and doing business anywhere in the country. Children of new investor immigrants may also promptly begin studying in Canada, and can apply to local schools and universities as a Canadian resident as opposed to a foreign student.

UPDATE: The Quebec Immigrant Investor Program will reopen for new applications from May 29, 2017 until February 23, 2018. The program will only accept a maximum of 1900 applications during this limited intake period, so we strongly encourage you to act fast.

Investor Immigration Canada Eligibility

Minimum Net Worth
In order to be admitted into the Quebec Investor Program 2018, foreign investors must have a legally obtained minimum net worth of CAD $1.6 million (or its equivalent in a foreign currency), either individually or combined with their spouse or partner. Assets that may be included when calculating net worth include real estate, bank accounts, stocks and bonds, as well as pension funds. Under the Quebec program for investors, inherited assets are classified as legally obtained, however, donation or inheritance money must have been received at least six months prior to launching a QIIP application. As of October 2017, $1.6 million Canadian dollars is equivalent to approximately USD 1.3 million, EUR 1.1 million, or CNY 8.5 million.

Risk-Free Investment
Applicants for Canada investor immigration must sign an agreement stating their intention to make a government guaranteed CAD $800,000 investment in Quebec through a financial intermediary authorized to participate in the QIIP. This prescribed investment in a five-year term note is fully and unconditionally guaranteed by the Government of Quebec, and in accordance with the provisions of the program, the money is returned in full after five years with 0% interest. Please note: this passive investment does not have to be made until after an applicant is approved in principle for investor immigration to Quebec, so there is no risk of making the investment only to be later refused a Canada investor visa.

Financing Solution
Over the last decade, a significant percentage of the Quebec and Canada Immigrant Investor Program participants have financed their investment in the country. Investors who do not wish to liquidate assets in order to come up with the required C$800,000 can finance the investment through an authorized Canadian financial intermediary for a one-time loan payment of ~$220,000 CAD, which includes all interest and fees. This means that as of October 2017, the “true cost” of obtaining a Canada investor visa is only around 175,000 American dollars, 1.2 million Chinese Yuan Renminbi, or 150,000 euros depending on the exchange rate. The Quebec-based law firm we work with exclusively has excellent relationships with reputable financial intermediaries who regularly loan to Canada investor immigration clients, allowing us to facilitate the financing of your investment at highly competitive rates should you choose to retain our professional services. Investments must be made in full within 110 days of being approved in principle for a Canada investor visa, so working with a law firm that has existing relationships with major financial institutions in Canada can make meeting this deadline less stressful. Please note: the current walk-away price of financing the $800,000 investment fluctuates between C$200,000 and C$240,000 according to interest rates, so we are unable to state a precise amount on our website.

Quebec Residency
Immigrant Investor Program applicants must intend to settle in Quebec, the largest province in the country by size and second largest by population, accounting for almost 1/4 of Canada’s 35 million people. Quebec is a vibrant and prosperous society built upon egalitarian beliefs that is incredibly welcoming and diverse. Although investor class immigrants and their families are allowed to settle in any city in Canada, the tremendous quality of life in Quebec makes the province highly popular among newcomers to the country. Montreal, the largest city in Quebec, is a modern and dynamic city with exceptional shopping, restaurants, and nightlife, as well as some of the best hospitals and healthcare facilities in the nation. The education system in Quebec is first rate, and the province is home to world-class schools such as McGill University. Although Quebec is predominantly a French-speaking province, English is commonly spoken in Montreal especially within the city’s business community. The astounding multiculturalism of Montreal also makes the city immensely inviting to new immigrants, and the province is famous for having some of the cleanest air and water in the entire world.

Business Management Experience

The Quebec Canada Investor Program requires primary applicants to have acquired at least two years of full-time business management experience in the past five years. Qualifying business management experience for the purposes of investor immigration to Canada must involve some portion of the management, planning, and control of both the financial side and the human or physical/material resources side of the enterprise or organization. Examples of appropriate management experience include commercial business, professional business (provided the private enterprise or partnership had 2 or more full-time employees excluding the applicant), NGO, agricultural (farm management), foreign government department or agency, international organization, or industrial management. Quebec immigration authorities will only consider business experience that was legitimately attained while the applicant had proper work authorization or legal status – unauthorized work experience does not count.

Other Factors
In addition to the above selection criteria, Canadian investment visa adjudicators who evaluate Quebec investor stream immigration applications will also consider factors such as age, education, adaptability, language proficiency, and work experience when making an assessment of a candidate’s file. A skilled Canada immigration lawyer with extensive experience preparing Quebec Investor Program applications can ensure that a client’s file effectively communicates every attribute he or she possesses that could potentially strengthen their application. Before moving to Canada, all persons included under an investment visa Canada file must also pass a medical exam as well as security and criminal checks.

Immigrant Investor Program Canada

Many people confuse the former Canada Immigrant Investor Program with the current Quebec immigration program for investors. Although both economic citizenship programs were extremely similar with identical investment and net worth requirements, only the Quebec Investor Program is currently operating as a gateway to Canada for wealthy business people holding citizenship from any country. In February 2014, the Canadian government announced the cancellation of the highly popular Federal Immigrant Investor Program (FIIP), slamming the door on 59,000 applicants whose pending files were instantly canceled. Many of these former candidates from the federal program are still interested in obtaining Canadian citizenship by investment, however, and consequently, the next Quebec Investor Program opening may reach capacity very shortly after it commences on May 29th, 2017 (this latest QIIP intake period will only accept 1900 applicants).

If you are interested in learning more about investment immigration to Canada via the Quebec Program, please contact our team for a confidential consultation.

Quebec Immigrant Investor Program Processing Times

The amount of time required to process a Quebec immigration investor file depends on an assortment of factors, principally the current volume of investor applications in a candidate’s geographic pool.

Provincial processing times – It typically takes 9 to 12 months for an investor category applicant to receive a Quebec Selection Certificate (CSQ) representing Quebec approval.

Federal processing times – After receiving a CSQ, it then takes approximately 3 to 4 years for the file to be processed federally by Citizenship and Immigration Canada (CIC). As of January 2017, the official Quebec Immigrant Investor Program processing time listed on the CIC website was 40 months.

Based on the historical average processing time, a Quebec Investor Program 2018 applicant should receive a Canada investment visa within five years. We believe 2018 QIIP processing times will actually be significantly faster than this, however. Quebec has recently updated their economic immigration rules to limit the number of applications they receive across entrepreneur, investor, and self-employed immigration categories. This should reduce the number of files that must be processed by the Government. Citizenship and Immigration Canada has also changed the way they process some immigration applications. Previously, CIC processing times for many services would vary greatly between regional visa offices. For example, Quebec investor files were processed more than twice as fast in Mexico as they were in the United Arab Emirates (UAE). As of January 2016, however, the CIC now has the ability to move applications between visa offices around the world to ensure they are processed with maximum efficiency. This means your 2018 Quebec Immigrant Investor Program application may not be processed at the visa office closest to where you live, but may be processed more efficiently. It also means there is no more country-specific QIIP processing times viewable online, as the CIC now only provides a single Quebec Investor Program processing time estimation for all countries.

Canada Investment Immigration for French Speakers

Business people who demonstrate advanced intermediate French language skills, by means of a standardized proficiency test recognized by the Government of Quebec, can often apply for the Canadian Immigrant Investor Program year-round. In addition to being able to apply before or after a designated intake period, investor candidates who speak French are also provided priority processing and are not subject to the program cap of 1900 applications. The Quebec Investor Program 2018 is one of the most coveted citizenship by investment programs in the World, and the additional benefits available exclusively to French speaking applicants make it by far the top investment immigration program in existence for Francophone business people and managers worldwide.

Why a Quebec Immigration Lawyer?

Although there are many foreign consultants offering discount immigration services, retaining the services of a licensed immigration attorney in Quebec has many advantages. First and foremost, the level of expertise related to Quebec investment immigration offered by an experienced Quebec-based lawyer simply cannot be beaten outside of Canada. Foreign consultants typically offer a range of citizenship by investment and investment immigration services in a variety of countries around the world, yet frequently outsource much of the actual legal work required to outside contractors. Directly working with an immigration lawyer in Quebec that knows the Investor Program inside and out ensures that your file will be highly optimized for success and that you will be guided through each step of the process in a professional, effective manner.

Getting approved for a Canada investment visa by way of the Quebec Investor Program 2018 is not easy, and incomplete or inconsistent applications can be refused without request for additional documentation or information. The application requirements for the Investor Program in Quebec are more comprehensive than those of many Caribbean economic citizenship programs, and the requisite documentation can easily overwhelm a person inexperienced with the process. One of the most rigorous and demanding elements of the investor application is the detailed chronological narrative demonstrating the lawful accumulation of the applicant’s financial assets. An immigration lawyer in Quebec with extensive experience handling files for business immigration to Canada will genuinely understand the immense level of detail needed to substantiate this critical QIIP provision comprehensively to procure a successful result for the client. According to official statistics, 76% of applications for Canadian investor immigration are refused, which means the success rate is only 24%. If you are serious about moving to Canada as an economic immigrant, we strongly encourage you to hire an experienced Quebec investor immigration attorney. Please note: the 2019 acceptance rate is widely expected to increase, as each qualified financial intermediary is now assigned a quota limiting the number of clients they can service, which will likely reduce the number of “weak” applications being submitted.

Leave a Reply

Your email address will not be published. Required fields are marked *