Canada offers a very interesting immigration program for investors with a big capital. If you are interested in immigration to Canada, this is perhaps one of the easier ways to achieve that goal, while making profits.
The program requires that the applicant proves that he has accumulated a net capital together with other assets in the amount of $800,000 Canadian dollars. The applicant has to be older than 18 years of age and has to be able to prove that he accumulated this capital through his own personal efforts and in an honest way. Proof of funds is very important and the applicant must be able do demonstrate how he gradually accumulated the funds.
Investment is only done if the applicant passes the interview with the immigration officer successfully. It is only after the immigration office calls the investor for an interview, and only after a successful interview that the applicant will have to transfer his funds to an investment company that is approved by the Canadian Government . It is impossible to invest in any projects that are not approved beforehand by the Government. The persons, who have the required capital, have two choices of how to invest. It is possible to invest $400,000 Can. for 5 years and after this term all the money is returned to the investor, but without any interest. The program is guaranteed in terms of the investment, and the government has to approve it, the money is always returned in full after the 5-year term. It is important to understand that the investment is required only when the immigration officer informs the applicant that he should invest in the approved project.
The other investment option is the so-called subsidized option. The investor is required to invest $120,000 Can. and the rest of the money is borrowed from the investment company. The full investment amount has to be $ 400,000, therefore the investor has to borrow $280,000 from the investment company. At the end of a 5-year period the investor will not be able to claim any money back because the investor has to pay out the loan. By the end of a 5-year term this amount will be depleted to pay out the loan.
After the investment is done the applicant will obtain a Certificate of Selection of Quebec for himself and members of his family if he applied through the Quebec Program. Once the certificates of selection are issued, the file and the certificates of selection are submitted to the nearest Canadian Embassy. The applicant and members of his family are checked for criminality and background checks are performed. Also the applicant and members of his family are supposed to undergo medical tests. Only then visas will be issued.
After settling in Canada as a permanent resident, the investor has to live in Canada for 3 years out of 5 years in order to obtain citizenship. But he has the right to be absent from Canada for three years and not lose his permanent resident status. In order words, the investor can come to Canada and then leave for 3 years but not longer. He can then come back and live in Canada as a permanent resident.
If you have more questions do not hesitate to speak to us or to our representative (see below for contact info).
This article was written by Fania Hilelson, Immigration and Legal Services Consultant who runs ACCESS & ASSOCIATES (http://www.accessimmigration.com/) at 4333 St. Catherine W. office 650, Westmount, Qc. H3Z 1P9, Canada tel. (514) 939-7400, fax (514) 939-9551, email