How to Apply for the Immigrant Investor Program in Canada
The Immigrant Investor Program in Canada is interested in finding business people with experience who would make a C$800,000 investment into Canada’s economy along with becoming a permanent resident. Citizenship and Immigration Canada would manage the investment which would be used to create jobs and grow economies in Canadian provinces. The CIC will return the investment approximately five years and two months after payment, without interest.
To qualify for the Immigrant Investor Program in Canada, the following criteria are necessary:
A minimum of two years of business experience that were achieved through one of three examples:
1) during the five years before applying for a permanent resident visa until the day a decision on the application is made, you managed a qualifying business and controlled a percentage of equity in said business over two one-year periods
2) during the five years between applying for a permanent resident visa and the day a decision on the application is made, you managed at least five full-time job equivalents per year in a business over two one-year periods
3) a combination of a one-year period from the first example, and a one-year period from the second example
For a business to qualify, it must not operate with the primary intention of gaining investment income like dividends, interest, or capital gains.
During the year under consideration, you must have documents to prove two of the following:
- the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000
- the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000
- 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
- the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000
Percentage of equity is defined as either:
- 100 per cent of the equity of the sole proprietorship controlled by you or your spouse or common-law partner
- the percentage of the issued and outstanding voting shares of the capital stock of the corporation controlled by you or your spouse or common-law partner
- the percentage of the profit or loss of the partnership or joint venture to which you or your spouse or common-law partner is entitled
You would need a net worth of at least C$1,600,000 which was obtained legally. The net worth represents the fair market value of all of your assets, along with your spouse’s or common-law partner’s assets, less the fair market value of all of their liabilities.
You need to send to an officer, in writing, your intention to invest or that you have made an investment.
The Immigrant Investor Program in Canada requires you:
- to be willing to make a C$800,000 investment
- to prove that you can support yourself and your dependants financially while in Canada
- to achieve a minimum of 35 points in the selection grid. The criteria are your education, age, business experience, English and/or French proficiency, and your adaptability
- to pass a medical examination and criminal and security checks, along with your family members
- to meet any other requirements of immigration regulations
Visit here to read how to apply.
Communication is key when it comes to integrating into Canadian society. That is why it is essential to have the proper skills to interact with your new community. Learning a new language can be a difficult task, but there are reputable English as a Second Language (ESL) classes that will help to give you confidence in a new language.
If you are an experienced investor who wants to make Canada your home, look no further than the Immigrant Investor Program in Canada.