May 22nd, 2023 at 05:55 am
Canada Immigrant Investor Visa: Full Application Guide
Canada’s immigrant investor program started in 1984. It is one of the world’s oldest and most famous “golden visa” programs.
Canada is the most popular place for HNW families to move to. Canada has the best standard of life, with health care and schools that are among the best in the world. Also, Canada is a country with many different cultures and a strong economy. Canada is home to some of the best schools in the world.
Most people who want to live in Canada for good use the Quebec Immigrant Investor Program. Once accepted into one of the Quebec programs, a new Canadian resident can choose to live in any Province. The QIIP also gives people a way to become Canadian citizens after living there for three years.
Canada made changes to the Quebec Immigrant Investor Program in 2018, and those changes were printed in the official newspaper.
Why Quebec IIP?
- Quebec is the most populous province in Canada. It is one of the best places to live, work, study, and do business in the world.
- Montreal is the second largest city in Canada, and most of its people speak French.
- Excellent system for both state and private health care.
- Any place in Canada is good for a family.
- In North America, Québec has one of the lowest tax rates on business profits.
- Economic immigrants move to Quebec because of its strong economy and low cost of living.
- Quebec has some of the best colleges, like McGill and Concordia, where you can get an education.
- After 3 years, QIIP makes it easy to become a Canadian citizen.
- When it comes to getting into countries without a visa, the Canadian passport is one of the best and most powerful in the world.
New Investment Requirements
Applicants must meet the following requirements to be qualified for the Investor Program:
- Minimum investment: You must plan to move to Québec and sign an agreement to spend at least C$1,200,000 with a broker or trust company that is allowed to take part in the Investor Program. The government of Quebec backs this project, so there is no risk and it can be financed. There is no need to make more jobs. You can get financing (see below).
- Settle in Quebec: When people apply for this school, they must plan to live in Quebec.
- Net Assets: Have a net worth of at least C$2 million, which you properly got on your own or with your spouse or de facto spouse. This doesn’t include any money you got as a gift in the last six months.
- Business experience: Have management experience in a legal farming, commercial, or industrial business, in a legal professional business whose staff, excluding you, has at least the equivalent of two full-time jobs, in a foreign agency, or with the government or one of its departments or agencies. The Management experience means that you were in charge of planning, managing, and controlling financial, human, or material resources for at least two years in the five years before you applied for a selection certificate. This does not include knowledge gained through an apprenticeship, training, or specialization that led to a diploma.
When the application is accepted, the person is given a Quebec Certificate of Selection, which can be used to apply for permanent residence in Canada.
Update: The Immigrant Investor Program is taking a break from accepting permanent selection applications from November 1, 2019 to March 31, 2023. This is to give the program time to be looked at.
Application Fee as of January 1, 2019:
- Principal applicant – CAD$15,496
- Spouse or de facto spouse – none
- Each dependent child – none
French language
You don’t have to speak French to apply, but investors who do speak French get their applications processed faster and are not limited by the program’s limit of 1,900 applications.
Taxes:
Canada doesn’t have a wealth tax or an estate tax, and people who want to move there through Quebec’s Investor Program don’t have to pay either.
Canadian citizens and permanent residents with a Canada PR card who are not considered to live in Canada for tax reasons can also avoid paying taxes on income earned outside of Canada.
Immigrants get a tax break for five years. Before filing for permanent residence in Quebec, you need to make plans for your taxes. Immigrants must move their assets into a foreign immigration trust in order to take advantage of this tax break.
Financing option
We now have a fixed-fee financing choice that costs USD 265,000 (or CAD 350,000).
Only a few chances!
Other things, like your age, schooling, and language skills, will also be taken into account.
Maximum number of applications
According to the Quebec government, they will accept up to 1,235 applications from foreign nationals from the People’s Republic of China, which includes Hong Kong and Macao. A total of 1900 applications will be accepted.
Québec’s immigration goals haven’t changed, but the rules about the number of accepted applications don’t represent that.
You can apply for one of the programs for business people (investors, entrepreneurs, and self-employed workers) at any time until October 31, 2019, if you can show that you have advanced intermediate knowledge of French oral expression and oral comprehension by submitting the results of a standard test recognized by the Ministère. Your application doesn’t have to follow the rule about the maximum number of applications that can be accepted or the time frame for accepting applications.
There will be room for up to 1,235 applications from foreign citizens of the People’s Republic of China, including those from Hong Kong and Macao.
Eligibility
A foreigner is chosen as an investor by the Minister if that foreigner meets the requirements of the investor program.
An investor is a foreigner who moves to Québec and is at least 18 years old and does business there. The Minister picks a foreigner for the Investor Program if the foreigner meets certain criteria.
- has experience in management;
- has a net worth of at least $2,000,000, either alone or with the accompanying partner or de facto spouse, which must have come from legal sources.
- invests $1,200,000 for 5 years with a subsidiary of Investissement Québec for which the foreign national has signed an investment agreement with a financial intermediary bound by an agreement with the Minister and the subsidiary and that will be the foreign national’s mandatory in Québec;
- Obtained the minimum score required by the Regulation on the weighting of foreign citizens in the selection grid for the economic class in Schedule A.
Citizenship in Canada
In 2017, the Canadian government passed a new law that cut the time it takes to become a citizen from five years to just three.
Canada Passport
Canada’s passport is the sixth best in the world, and it doesn’t need a visa to get into 185 countries in 2018.
Statistics
Statistics on immigration to Quebec show that since 2006, a total of 40,380 visas have been granted under the Quebec immigrant investor program. More than 90% of the applicants came from Asia, with Chinese being the most common.
Statistics on the Quebec Immigrant Investor Scheme
The city of Montreal was chosen by 93% of QIIP buyers.
The top countries that want to move to Quebec
- China – 52.00%
- Iran – 17.30%
- Pakistan – 5.40%
- India – 2.60%
- Egypt – 1.80%
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