Canada Overview

Canada is the second largest country in the world - after Russia - and largest on the continent. It is one of the world's wealthiest nations and has one of the world's highest qualities of life. Today Canada closely resembles the US in its market-oriented economic system, pattern of production, and high living standards.

An Excellent Choice for Residence and Citizenship

The relaxed life style, stable political, justice, economic and social environment, excellent educational and health system, multilingual population and worldwide known Canadian tolerance of other cultures, made Canada one of the most desirable countries to live, do business, raise family, work and invest.

Canada has a long tradition of immigration and an elaborate system to evaluate and admit new residents. Citizenship is available after four years of residence (and 183 days minimum physical presence during each of the four calendar years), and the Canadian passport is one of the best travel documents in the world.

You can establish residence by applying for Canadian Permanent Residence in one the following categories:

  • Investors
  • Entrepreneurs
  • Self Employed Persons
  • Skilled Workers and Professionals

Once your application is approved, you and members of your immediate family may enjoy all advantages of Canadian citizens (with the exception of voting and holding political office) including access to excellent free health care and first class education.

Canadian Immigrant Investor Programs

The Immigrant Investors Program was created by the Canadian government to attract wealthy business persons and their capital to Canada. Investors and their immediate family can gain permanent residency in Canada by satisfying the following four government selection criteria:

1) You must demonstrate proper business experience, as defined under the Regulations. In essence, you must have previously managed or operated a qualified business for at least two out of five years preceding your application

2) You and your spouse must have legally obtained a personal net worth exceeding CAD 1.6 million

3) The entire family must complete and pass Canada's medical and security evaluations

4) You must invest CAD 800,000 for a period of five years at no interest (0%) under the one of the two available Immigrant Investor Programs. The investment is government-guaranteed and will be repaid in full at the end of the investment period

There are several ways to become a permanent resident in Canada. The two most popular economic programs are:

  • The Federal Immigrant Investor Program, and
  • The Quebec Immigrant Investor Program

Québec Introduction

  • Largest City: Montreal
  • Total Area: 1,542,056 km2
  • Population: 7,568,540
  • One of ten States of Canada
  • Quebec is Canada's largest province by area and its second-largest administrative division
  • The climate around the major cities is four-season continental with cold and snowy winters combined with warm to hot, humid summers

Québec Investment Requirements

  • The main applicant and their spouse must have legally obtained a personal net worth exceeding CAD 2 million
  • The main applicant must invest CAD 1.2 million for a period of five years at no interest (0%) under one of the two available Immigrant Investor Programs. The investment is government-guaranteed and will be repaid in full at the end of the investment period
  • A Canadian financial intermediary would be able to provide financing with an investment amount from CAD 350,000 The applicant must demonstrate proper business experience, as defined under the regulations. In essence, the applicant must have previously managed or operated a qualified business for at least two out of five years preceding their application. Businesses in one of the following categories are acceptable:
    • Businesses in agriculture, trade or industrial
    • A legitimate business enterprise employs at least two full-time employees
    • International office, government or departments or agents
  • No Criminal Record

QIIP Processing Time

Processing Time of Québec Immigrant Investor Program (QIIP)

Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7
1-2 months 1-2 weeks 4-6 months 12 months At least: 4 months 1-2 months 36-44 months (*)
Document preparation: Customers provide documents under the guidance of H&P Submit for financial intermediation review and formally submit to the Québec Government Receive file number Receive interview invitation and interview, or receive interview exemption Make the transfer of investment amount to Financial Intermediary Get the CSQ (Québec Letter of Acceptance) Apply for a Permanent Resident Card in Canada. Apply for a permanent residence visa. The client does a medical examination and get a criminal record when requested by the Federal
Payment:
- First installment fee for H&P: 50% of H&P's total fees
- Government charges CAD 15, 235
- Translation and auditing fees (if applicable) and real estate expertise
Payment:
Second installment fee for H&P: 30% of H&P's total fees
Payment:
Third installment fee for H&P: 10% of H&P’s total fees
Pay:
Fourth installment fee for H&P: 10% of H&P’s total fees
- Government Fees CAD 2,000 - 3,000

Note: H&P's total service fee for QIIP varies from $ 50,000 to $ 60,000, divided into 4 installments.

The program encourages applicants to undertake a field trip to the province of Quebec. Applicants will be informed about the timing of the trip for H&P at least one month in advance so that H&P can assist with the visa application process.

(*) According to the statistics of the Canadian Department of Immigration, 36-44 months is the average Canadian Federal Processing Time for applications worldwide

QIIP Advantages

  • No language requirement
  • No requirement to be a business owner
  • No business plan requirement
  • The only investment migration program managed by the government and guaranteed to repay the investment
  • Permanent resident (PR) for family (does not include dependent children over 21)

The Federal Immigrant Investor Program is currently closed following an annual application cap that was introduced through ministerial instructions and which was filled shortly after July 1, 2011. The annual application cap will reset on July 1, 2012, unless otherwise indicated in a future ministerial instruction. The cap does not apply to the Quebec Immigrant Investor Program. That means the Quebec Immigrant Investor Program currently remains open to receive new applications.

The selection procedure is similar under both the Federal and Quebec programs, with the following distinction: in Quebec, the investor first has to obtain a Certificate of Selection of Quebec before applying for health and security screening at the federal level to be admitted to Canada. Once legally admitted to Canada, applicants who receive a Certificate of Selection of Quebec do not have to establish residency in Quebec because they - as all Canadian residents - have total liberty of movement and establishment in any of 10 Canadian provinces and three territories.

Henley & Partners offers a comprehensive service designed to assist you and your family in immigrating to Canada under the Immigrant Investor Program. Our team brings together experts in the field of immigration law, tax, financial and banking services to make your transition to Canada as smooth as possible.