The Canada Investment Visa program presents an invaluable opportunity for foreign investors who wish to migrate and contribute towards Canada’s economic expansion.
Are You Exploring Canada as an Investor Visa Program Candidate? This comprehensive guide offers insights into its eligibility criteria, application process, investment options, and advantages as a pathway toward Canadian permanent residency.
What is the Investor Visa Program?
The Canada Investment Visa program, commonly referred to as the Immigrant Investor Program (IIP), allows qualified investors and their families to gain Canadian permanent residency by making significant financial investments in Canada.
To qualify for the Investor Visa Program, applicants typically need to meet certain financial and personal criteria – for instance, a minimum net worth, certain levels of investment assets, and their intent to live permanently in Canada.
Requirements For The Canadian Investor Program
Canada’s Investor Visa Program provides an avenue to permanent residency for qualified investors willing to make significant financial investments in the Canadian economy. There are two primary types of Investor Visas offered here in Canada.
The Quebec Investor Program: This program is for investors who are interested in investing in Quebec. To be eligible, investors must invest CAD$1.2 million into a business located within Quebec that creates or sustains at least 10 jobs.
The Federal Immigrant Investor (FII) Program: This is for immigrant investors interested in investing in any province or territory across Canada. To become eligible, investors must invest CAD$2 million into Canadian businesses while creating or maintaining at least 20 jobs.
Both the Quebec Investor Program and FII are highly sought-after programs; to qualify, applicants must meet specific eligibility requirements. In particular, for either program, you must fulfill certain conditions. To be considered eligible for either, see:
- Your net worth must exceed one million Canadian Dollars in order to apply.
- Experience in business management is required of candidates for this position. At least two years’ worth of managerial experience should be available.
- Your money must be invested in a Canadian business venture.
- Your qualifications must include passing both a medical examination and a security background check.
If you meet all of the requirements, an Investor Visa application can be submitted either online or at a Canadian visa office. Since the process may take several months to complete, it’s essential that applications begin early.
Under the Quebec Investor Program, the minimum investment requirement is CAD$1.2 million; this must be made into either a venture capital fund registered in Quebec or an organization operating out of Quebec.
Under the Federal Immigrant Investor Program (FII), the minimum investment required is CAD$2 million and should be made into either a Canadian registered venture capital fund or a business.
Apart from the minimum investment amount, additional costs associated with applying for a Canada investment visa include application fees, legal costs, and biometrics fees.
Here are a few Provincial Nominee Programs (PNPs) with investment options:
British Columbia’s Entrepreneur Immigration Stream: To qualify, this stream requires investing CAD$2 Million into any new or existing business located in British Columbia.
Manitoba Investor Stream: To take part, this stream requires investing CAD$250,000 into either a new or existing business in Manitoba.
Ontario Investor Stream: To participate, this stream requires investing at least CAD$1 million into any new or existing business in Ontario.
Quebec Investor Stream: For this stream to work effectively, an investment of at least CAD$1.2 million in a Quebec-registered business must be made.
Nova Scotia’s Business Immigration Stream: For this stream to work successfully, an investment of at least CAD$350,000 in any new or existing business in Nova Scotia must be made.
Note that eligibility requirements vary between Provincial Nominee Programs (PNP). To find out more, it’s wise to contact each province or territory directly for more details.
How To Apply For Canada Investment Visa
Below are the steps on how to apply for a Canada investment visa:
- Choose a Program: There are two primary forms of Canada investment visas, the Federal Immigrant Investor Program (FII) and Provincial Nominee Programs (PNPs). Each program has different eligibility requirements, so it is crucial that you find one which suits your situation best.
- Fill the Eligibility Requirements: In order to meet all eligibility requirements for a Canada investment visa, such as having at least CAD$1 million in net assets and willingly investing a certain sum into Canadian businesses, certain criteria must be fulfilled.
- Gather Required Documents: Depending on the program you are applying for, required documentation could include your passport, net worth statement, business experience certificate or police certificates.
- Fill Out an Application Form: The Canada government website contains an application form for an investment visa in Canada.
- Pay Your Application Fee: The Canada investment visa application fees range between CAD$15,000 for an FII visa and most PNP programs (CAD$10,000).
- Submit Your Application: Your application can be submitted either online or via mail.
- Attend an Interview: If your application has been chosen for further processing, an immigration officer from Canada will invite you to attend an interview.
- Gain a Decision: Your application for residency and work authorization in Canada could take several months to be approved; should it be successful, you will receive a visa that allows you to live and work permanently within Canada.