Canada offers residency by investment, the Quebec Immigrant Investor Program is the most popular path to becoming a permanent resident in Canada. Once selected, any new Canadian resident under any of the Quebec Programs may choose to reside in any Province of their choice.
Applicants choosing this option must invest a minimum of CA$ 1,200,000 in a government-guaranteed investment and hold it for five years. At the end of this period, the guaranteed full amount is returned to the investor without accrued interest. The program provides for full investment or financing through authorized financial institutions.
Under this option, investors pay a reduced amount that is used to finance a CA$1,200,000 closed 62-month term loan from a chartered bank. This loan is initiated and repaid at no further cost and without additional guarantees from the applicant.
There are certain other regional immigration programmes for business people such as Quebec Investor, Quebec Entrepreneur and Quebec Self-Employed Worker programmes.
An investment agreement must be signed with an approved financial intermediary for the investment of C$1,200,000 for 5 years. The number of signed agreements is subject to a quota. The investment is guaranteed by the Government of Quebec. Financing options are offered to applicants by brokers and trust companies.
– At least 2-year management experience in planning, management and control of financial, human or material resources. This must be acquired in 5 years preceding the application.
– Net assets of C$2,000,000 acquired and available to you alone or together with your accompanying or de facto spouse at least 6 months before the application.
– Main attraction of this programme is that your investment will be returned to you in 5 years.
There are two components in the programme,
– Submitting a business project for creation or acquisition of a business in Quebec.
– Acquisition of a business in Quebec.
A business must be of agricultural, industrial or commercial nature. You must make a start-up deposit and a security deposit at a financial institution with an establishment in Québec with whom you have signed a deposit agreement. You must use the start-up deposit to set up your business. A start-up deposit for a business outside the Montréal Metropolitan Community (MMC) is CAD $200,000 or CAD $300,000 if the business is located in the MMC.
– You must demonstrate that you will manage it yourself or you will participate in it as management and operations partner full-time on a daily basis (agricultural entrepreneur does not have to work full-time).
– You must control, alone or with your accompanying spouse or common-law spouse, at least 25% of the capital equity with a value of at least C$100,000.
– You cannot buy a business acquired by another entrepreneur under this programme in 5 years preceding your application.
Candidates have been recently encouraged to settle outside metropolitan areas, including they are offered low-skill jobs validated by the state.
– You must come to Quebec to create your own job by practising a profession or business activities, alone or with other immigration candidates, with or without paid help (you must register with a regulatory body if your profession or trade is regulated in Quebec).
– You must make a start-up deposit at a financial institution in the region where you are going to work – C$25,000 if outside the Montreal Metropolitan Community (MMC) area or C$50,000 if inside the MMC area.
– Financial self-sufficiency with net assets of C$100,000 available to you alone or together with your spouse if they are accompanying you.
– Legal and lawful source of assets.
– At least 2-year professional experience as a self-employed worker in the field in which you wish to work in Quebec.
– Relevant education and degree.
Support can assume the following forms:
– Agreement with an authorized venture capital firm to invest a minimum of CAD200,000 in your business, or
– Agreement with an authorized Angel Investor to invest a minimum of CAD75,000 in your business, or
– Your business has been accepted in an authorized business incubator.
– The designated organization that supports your business will provide you a Letter of Support, which has to be attached to your permanent residency application.
– Up to five people may apply for a startup visa as owners of a single business. However, you must hold at least 10% of the qualifying business and the designated organization and the applicants must jointly hold more than 50 per cent of the voting rights in the business.
– To keep your permanent residency status, you must physically be in Canada at least 730 days (2 years) in a five-year period. Failure of your business will not affect your permanent resident status.
– After 5 years holding the permanent residency status, you will be eligible to apply for citizenship, provided that you have lived 1,095 days in Canada within the five years, and 183 days during each of three calendar years that are fully or partially within the six years right before the date you apply.
– To apply for citizenship, you must also have met your personal income tax filing obligations in three tax years that are fully or partially within the five years right before the date you apply. And you must take a language (French or English) test and pass an exam regarding Canadian values, history, symbols, institutions, rights, responsibilities and privileges of citizenship.
– In addition to the above requirements, you must prove that you have enough money to support yourself and your dependents. For a single applicant, the amount required is CAD12,300, for a 2-member family CAD15,312, 3-memberCAD 18,825, 4-member CAD22,856, 5-member CAD25,923, 6-member CAD29,236 and for a 7-member family CAD32,550. For each additional dependent, you will be required to have CAD 3,314.
– If you are not an English or French native speaker, you must take a language test from an approved agency and include the results with your application.
– You must be in good health and do not have any contagious disease. You must have a clean criminal background.
Documents required for Startup visa program:
Investor and their family members who have lived in Canada for three out of the four years (1095 days) preceding the application, have adequate knowledge of English and/or French, have no criminal record, and have acquired knowledge of the rights and responsibilities of citizenship, as well as an understanding of Canada’s history, values, institutions, and symbols are eligible to apply for citizenship.
Canada offers endless opportunities for foreign investors in exchange for their contribution to the local economy.
Eligibility and Requirements
Step 1: Gather Documents – If you do not provide all the requested information and the documents from the checklist, your application will be returned to you.
Step 2: Complete the Application – The information you provide on your application may be subject to verification.
Step 3: Pay the Fees – The processing fee must be included in your application. The applicant will also have to pay fees to third parties for his/her self and for his/her family for medical examination, police certificates, and language assessments.
Step 4: Mail the Application – Make sure you use and submit the document checklist (IMM 5690) (PDF, 395.04 KB) along with your application form and supporting documents.
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Yes. Dual citizenship is recognized in Canada. You are not required to renounce your previous nationality to become a citizen of Canada.
To keep your permanent residency status, you must physically be in Canada for at least 730 days (2 years) in 5 – years.
To be eligible to become a Canadian citizen, you must be a permanent resident and have lived in Canada for 3 out of the last 5 years (1,095 days).
The government will return the investment in 5 years without any interest.
Yes. You 100% require a language test.
Currently, every citizen of the world is eligible to apply.
Yes, you may be able to include dependent children in your application.
An individual who spends 183 days or more per year in the country may be considered a tax resident and are subject to federal income tax and provincial/territorial income taxes on their worldwide income.
Yes. Real property taxes are levied by municipalities and range from 0.3% to 1.5% of the market value of the property. There is also a real estate transfer tax at a progressive rate from 2% to 6%.
There is no inheritance tax, however; an individual who dies is deemed to have disposed of any capital property immediately before death.
No. There is no net worth or net wealth tax in Canada.
Non-residents are taxed on their income and capital gains derived from Canada.