Obtaining Canadian citizenship by investment
Canada’s investment programs are a way for wealthy foreigners and experienced businessmen to obtain long-term Canadian residency (permanent residence), and later citizenship. All applicants for permanent residence must demonstrate to the authorities of the country the presence of capital in the amount of 2 million CAD and invest 1.2 million CAD in one of the investment programs for 5 years under government guarantees.
You can apply for Canadian citizenship after a 5-year period from the date of investment. Relatives of the applicant can also participate in the program: spouse, minor children and parents.
Requirements for investors
Each applicant for citizenship through investment in the economy of a Canadian province must comply with the requirements established by law and fulfill a number of conditions:
be of legal age;
provide a certificate of non-conviction;
confirm the legitimacy of the invested funds;
know English or French at level B2;
have qualifications and work experience corresponding to the specialty of the applicant;
provide a business plan (for entrepreneurs).
On June 19, 2014, all federal programs for foreign investors were closed in Canada. They were replaced by provincial methods of business immigration to Quebec. The Quebec Regional Immigration Program is the jurisdiction of the governments of both Canada and the province itself. If a foreign investor meets the requirements of the program, then in the end he receives a Quebec Selection Certificate, which is an official immigration document – an invitation to move to Canada.
An entrepreneur applying for the business immigration program is responsible for finding a financial institution in Quebec to make initial and margin deposits. All transactions related to making payment must be carried out in accordance with the current rules of the institution chosen by the applicant.
To be eligible for the Sole Proprietorship Immigration Program, a candidate must meet the following conditions:
settle in Quebec for the purpose of establishing or acquiring a business;
make initial and security deposits to the financial institution with which the contract was previously signed. For doing business within Montreal, the deposit amount will be CAD 500,000, where CAD 300,000 is start-up capital and CAD 200,000 is a refundable security deposit.
If the business activity is carried out outside the metropolis, then the starting amount will be 400,000 CAD, where 200,000 CAD is the entry fee and 200,000 CAD is a returnable guarantee fee;
have an amount of 900,000 CAD (alone or with a business partner) and prove that this money (assets or accounts) was obtained legally;
provide a detailed business plan;
own at least 25% of the shares of the future enterprise;
develop the business for 5 years prior to applying for Canadian citizenship.
Under this program, there is no list of financial institutions that support candidates, and there are no regulated criteria for recognizing organizations created by foreign businessmen.
To participate in this business immigration program, the applicant must meet the following requirements:
settle in Quebec to establish or acquire a business;
carry out agricultural, industrial or commercial activities;
submit the project to the authorities of Quebec in the form of a ready-made business plan, thought out for 5 years;
document that he will manage the business personally or with partners (up to 3 people);
Quebec Immigrant Investor Program is an investment program that allows people with legal capital of more than 2 million Canadian dollars to obtain permanent residence by investing at least 1.2 million CAD through a financial intermediary approved by the government of Quebec. It is this method of immigration to Canada that does not have strict age restrictions and is available to candidates over 46 years old.
In order for a foreign investor to take part in the QIIP program, he must fulfill the following conditions:
own a legally acquired amount of 2 million CAD alone or with your spouse;
have 2 years of managerial experience, documented (for example, information on the Internet from open sources).
sign an agreement with a financial intermediary who will instruct and help to carry out the investment;
invest 1.2 million CAD through a trust company or broker under government guarantees – after a 5-year period, the funds will be returned.
Obtaining Canadian citizenship
Every foreign investor must live in Canada on a long-term resident card for 1,095 days over a 5-year period to qualify for a passport. To obtain Canadian citizenship after investment, you must go through several stages:
Register on the website of the Ministry of Citizenship and Immigration, select the section of interest and familiarize yourself with the list of required documents. The site provides instructions and information on all possible forms required to fill out and submit.
Pay commission fees. An adult applicant pays 530 CAD for the processing of personal data and 100 CAD for the right to obtain citizenship. The state duty for children under 18 is 100 CAD.
Form a dossier in accordance with the requirements (depending on the purpose and method of immigration) of Canadian law and submit an application.
Pass a test on knowledge of their civic positions and an interview with an official. The procedure is mandatory for all applicants between the ages of 18 and 54. Applicants over the age of 55 are not required to take the exam, but must pass an interview with an official.
Obtain a citizenship certificate and take an oath.
Execute internal documents of a citizen of Canada. You can apply for a passport no earlier than two days after taking the oath. You can read the conditions for applying (depending on the situation) on this page.