In this article, we look at why investors want to relocate to Canada and some options for immigrating to the country through investments.
Relocating to Canada
Residency and citizenship by investment allow wealthy investors to earn residency or citizenship in a new country by making a qualified investment. These investments can be in the form of a real estate purchase, placing money directly into the jurisdiction’s government, or any approved investment. Investors from all over the world find the benefits of living in Canada very appealing. Canada is often voted the best country in the world to live in. The country features a high standard of living, reliable infrastructure, and a clean environment. They also have some of the best schools and hospitals with a free health care system. This is very appealing for those living in the US or other countries with expensive healthcare. Canada is an excellent country for business in terms of economic benefits and has access to the entire North American market. It is one of the world’s wealthiest nations and is one of the world’s top 10 trading nations, and has a rapidly growing economy.
Citizenship by Investment in Canada
There are several different ways for investors to move to Canada. There are a few standard conditions that any applicant will have to meet first.
- Before the investor places funds into the country, they will need to prove they have relevant business experience and meet certain regulations. For example, if you are starting a business in Canada, you will need to have managed a comparable business for at least two of the past five years.
- The applicant and their spouse must hold a minimum net worth of CAD 2 million.
- The investor and their family will need to be in good standing, medically and with the law.
- There is an assessment on age, language, education, and experience.
Let’s take a look at some investment programs in canada. If you are interested in any of these programs, contact Alpen Partners.
Section 205 Work Visa
With this option, investors will set up their own business in the country, register with Revenue Canada, open a bank account for the business, and deposit funds for the needs of the business. The applicant will also be asked to develop a business plan that includes how this company will benefit Canada culturally, socially, or economically. It takes about six months to earn this visa. After a year of successful business, the investor can apply for permanent residence.
Quebec Immigrant Investor Program
The Quebec Immigrant Program, or QIIP, earns investors visas to the province of Quebec after investing CAD 1.2 million to the government for five years, interest-free. After 24-36 months, the investor and their family can obtain permanent residence. The investment is utilized by the government of Quebec for economic development. After five years, the full amount of the investment is paid back. This program does restrict the investor to the province, which includes Montreal and Quebec City.
Provincial Nominee Program
Some provinces have their own immigration programs centered around business, similar to the Section 205 Work Visa, known as Provincial Nominee Programs, or PNPs. These programs skip work permits, and the investor gets permanent residence immediately. Each province has its own requirements, but they typically include a specified minimum net worth, a minimum investment in a business, have business experience, and meet basic education and language requirements. Interested investors will likely be required to travel to meet provincial officials to meet the requirements.
Express Entry Program
Express Entry is a program on the federal level that allows skilled workers to apply for residence. When applying, they are placed into a ranked list of other applicants based on measurements of foreign work experience, time in Canada, and knowledge of the country and the spoken languages, English or French. Individuals with the highest scores are selected to apply for permanent residence.
Quebec Entrepreneur Program
The Quebec Entrepreneur Program grants permanent residence to investors who meet the following criteria.
- They must hold net assets that amount to at least CAD 300,000.
- Applicants must have at least two years of experience running a business.
- The entrepreneur will have to acquire or create at least 25% of a company’s equity in Quebec with an investment of at least CAD 100,000.
Inter-corporate Transferee Work Visa
This is a particular option for individuals who transfer from a company abroad to an affiliated Canadian company where they will work as an executive or special knowledge. Interested applicants will need to work for the company in at least one of the past three years. Also, the job the applicant intends to perform in Canada must be similar to the job they perform currently. After holding the visa for one year, visa-holders can apply for permanent residence under the Canadian Experience Class.
Earning Canadian Citizenship
After earning permanent residence, the applicants who are seeking citizenship will have to take all of the necessary steps. They can apply for citizenship after three years of permanent residence.
Earn Canadian Citizenship by Investment with Alpen Partners
There are so many reasons to consider taking your life to Canada. Economic and personal benefits such as friendly people, free healthcare, and investment opportunities are changing the lives of many global investors. While the process can be relatively easy, navigating the rules and regulations of becoming a citizen of another country aren’t always cut and dry. The typical investor may not know the best route to citizenship for them. That’s where Alpen Partners comes in. Our skilled advisors will assist you every step of the way of your expatriation and investment journeys. Find the investment program that is right for you. Maybe Canada isn’t your first choice. Our experts use a hands-on approach to ensure we find the best location for you. For more information on seeking residency and investment options abroad, contact Alpen Partners today!