CANADA RESIDENCY BY INVESTMENT
Canada has a history of residency by investment programs at both the federal and provincial levels. The Quebec Investor Program, which has been suspended as of 2021 and is not currently accepting new applications, was a popular program that allowed high net worth individuals to obtain permanent residency in the province of Quebec in exchange for a minimum investment of CAD 1.2 million for a period of 5 years. Other provinces, such as British Columbia and Ontario, have their own Provincial Nominee Programs (PNPs) that allow foreign nationals to obtain Canadian permanent residency by investing in businesses or creating jobs in those provinces. Currently the most attractive program available with the lowest investment criteria is the Canadian SUV.
Canada Citizenship by Investment
Citizenship through investment is possible in Canada but applicants will need a period of residency first before being eligible to apply. There is no direct Canadian Citizenship by Investment program.
CANADIAN START-UP VISA PROGRAMME
The Canadian Start-Up Visa Programme (SUV) targets immigrant entrepreneurs with the skills and potential to build innovative businesses in Canada that can create jobs for Canadians and compete on a global level. Eligible applicants must invest typically from CAD $350,000 into a Canadian “authorized designated organization”. Accredited investors must also demonstrate their net worth with an income of at least $200,000 or proof of $1,000,000 of financial assets.
The SUV programme offers a fast and cost-effective immigration route into Canada that provides Permanent Residency (PR). Unlike other business immigration paths, the PR status is not tied to the success of the business.
Investors can include their spouse and children 21 years of age and younger. Successful applicants can live anywhere in Canada other than the province of Quebec. This programme takes as little as 12 – 18 months.
CANADIAN PERMANENT RESIDENCY AND CITIZENSHIP
Following a successful application, investors and their families will be issued Permanent Residency status from day one. Investors must reside in Canada for 730 days (two years) within five years to uphold the PR status. If investors live in Canada for three out of the five years (1,095 days) it is then possible to apply for Canadian Citizenship. Citizenship applicants must demonstrate adequate knowledge of English and/or French and have no criminal record.
Canadian Passport Strength
For those fortunate enough to obtain it, Canadian citizenship ultimately offers the benefit of a strong passport. The Canadian passport offers visa-free travel to 197 countries worldwide. In terms of mobility for investors, it offers visa-free access to 79.7% of the world’s wealth (as measured by GDP) and a quite substantial measure of 92.2% of the global travel popularity. It ranks 30th overall in La Vida’s comprehensive Global Passport Ranking with an overal score of 86.2.
As an expert in immigration and residency programs, I have extensive knowledge of various schemes across the globe, and Canada's Residency by Investment programs are no exception. I've closely followed the developments in Canadian immigration policies, keeping abreast of changes, program suspensions, and the introduction of new pathways.
The Quebec Investor Program, for instance, was a flagship initiative that allowed high net worth individuals to secure permanent residency by making a substantial investment in the province. However, as of 2021, it has been temporarily suspended, signaling the dynamic nature of these programs. I'm aware of the minimum investment criteria, the duration of commitment, and the intricate details that applicants needed to navigate to qualify.
Moving beyond Quebec, I am well-versed in the Provincial Nominee Programs (PNPs) of provinces like British Columbia and Ontario. These programs allow foreign nationals to attain permanent residency by contributing to the local economy through investments in businesses or job creation.
Now, focusing on the Canadian Start-Up Visa Programme (SUV), it is currently the most attractive option due to its relatively low investment criteria. Eligible applicants are entrepreneurs with the potential to build innovative businesses in Canada. The investment requirement, usually around CAD $350,000, is directed to an authorized designated organization. As part of my expertise, I understand the intricacies of demonstrating net worth, income thresholds, and the benefits of this fast-track immigration route, which awards Permanent Residency (PR) without tying it to the success of the business.
In terms of post-immigration obligations, I am aware that investors must spend a certain amount of time in Canada to maintain their PR status and eventually become eligible for Canadian citizenship. The specifics, such as the requirement to reside in Canada for 730 days within five years for PR status and the subsequent pathway to citizenship after three years of residence, are within my purview.
Moreover, my knowledge extends to the global mobility advantages associated with Canadian citizenship. The strength of the Canadian passport, offering visa-free travel to 197 countries and significant access to the world's wealth and travel destinations, is a crucial factor for potential investors. I can emphasize the value of a Canadian passport in the context of international mobility and its ranking in comprehensive Global Passport Rankings.
In conclusion, I am well-equipped to provide informed guidance and insights into Canada's Residency by Investment programs, drawing on a deep understanding of the historical context, program specifics, and the broader implications for individuals seeking to make Canada their new home. If you have any questions or need further clarification, feel free to ask.
