The Canada Immigration Investor category - Investment immigration with permanent residence in Canada
This category is closed until further notice from the Canadian authorities.
The Canada immigration investor program is very popular among business and corporate individuals that wish to settle in Canada. At the moment, British Columbia is receiving the highest number of investor immigrants in the western Provinces. Under this program, applicants may settle in any province of their choice except Quebec. As of June 26th 2010, the Canada immigration investor requirements are as follows:
1. The investor must hold two one-year business experience within the last five years
2. Have legally acquired net worth of at least $1,600,000.00; and
3. Indicate in writing to an officer that they intend to make or have made an investment of $800,000.00
The investment of $800,000.00 is non-refundable for a period of five years following the day the visa is issued. The Government of Canada guarantees the refund.
The investor may finance the full amount or a percentage of the $800,000.00 through an approved investment agent. A down payment to be determined may cover the interest and financing costs.
The net worth is described as the fair market value of all of the assets of the investor and their spouse or common-law partner minus the fair market value of all of their liabilities. Documentary evidence as to the source of funds is necessary to establish admissibility. The business experience consists of the following:
(i) two one-year periods of experience in the management of a qualifying business and the control of a percentage of equity of the qualifying business within the last five years
(ii) two one-year periods of experience in the management of at least five full-time job equivalents per year in a business within the last five years
(iii) a combination of a one-year period of experience described in subparagraph (i) and a one-year period of experience described in subparagraph (ii);
“qualifying business” means a business — other than a business operated primarily for the purpose of deriving investment income such as interest, dividends or capital gains — for which, during the year under consideration, there is documentary evidence of any two of the following:
(a) the percentage of equity multiplied by the number of full time job equivalents is equal to or greater than two full-time job equivalents per year;
(b) the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000;
(c) the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000; and
(d) the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000.
“percentage of equity” means
(a) in respect of a sole proprietorship, 100 per cent of the equity of the sole proprietorship controlled by a foreign national or their spouse or common-law partner;
(b) in respect of a corporation, the percentage of the issued and outstanding voting shares of the capital stock of the corporation controlled by a foreign national or their spouse or common-law partner; and
(c) in respect of a partnership or joint venture, the percentage of the profit or loss of the partnership or joint venture to which a foreign national or their spouse or common-law partner is entitled.
The Investor is subject to a selection process based on a point system. The points are evaluated against the following criteria:
- Proficiency in English or French
- Adaptability (Exploration trip in Canada and participation in joint federal-provincial business immigration initiatives)
The applicant will proceed by transferring the $800,000.00 after he has met the above selection criteria and after the security and medical clearance have been completed.
Instead of investing the full amount of $800,000.00, the investor will have the opportunity of contracting a loan with an authorized bank. The lump sum amount is expected to be approximately $180,000.00 CAD to cover for the interests and administrative expenses to set up the loan.
The Canadian immigration authorities announced that effective July 1st, 2011, they limit the federal investor applications to 700 per year. This limit has already been reached and the program will be opened again on July 1st 2012. This limit does not apply to the Quebec investor program.
The federal Investor class is set for any province in Canada except Quebec. See the Quebec investor program for further information.
You may complete our evaluation form and we will return to you with additional information within 24 hours.
Bellemare & Vinet Attorneys