This program is ideal for high net-worth individuals who want the right to live or retire in Canada, without having to invest in or start a business in Canada. Succesful applications under this program give the principal applicant, together with their wife and dependent children, permanent residence in Canada.
Canadian passports allow visa-free access to many countries of the world.
Dependent children of Canadian citizens or of permanent residents may attend school, college, university, or other educational institutions in Canada at the same cost as children born in Canada.
Canada provides a “tax holiday” for the first 5 years of the immigrant’s stay in Canada if funds are invested in a suitably-structured immigrant investor trust After 5 years, even if the applicant removes their funds from the jurisdiction of Canada, and therefore is not liable for Canadian taxes the investor and the investor’s family can retain their Canadian citizenship.
Requirements for the program
In order to acquire citizenship and a Canadian passport, the principal applicant will need to spend 3 years (1,085 days) out of a 4-year period living in Canada.
The principal applicant must have net worth of at least $1,600,000. The source of funds must be established as being from legitimate sources, which can include inheritance.
The principal applicant must have specific business management experience. This experience may have been acquired in private enterprise, in government, or in non-profit organisations, and must include responsibility for areas such as control over financial, material, or human resources. Persons in professional practice e.g. doctors, lawyers may qualify provided their practice has employed staff.
The principal applicant must invest at least $800,000 with the governmet of Quebec for 5 years. At the end of the 5 years, the investor’s capital will be returned intact i.e. without interest. Alternatively, the financial intermediaries accredit by the government of Quebec will provide financing in return for payment of an up-front fee; in this case no further payment is required and no funds will be returned to the investor at the end of 5 years.
The principal applicant, spouse, and dependent children must pass medical and background checks.