Benefits of Immigrating to Canada as an Investor
Income generated under the Quebec Immigration Investment Program also funds the Employment Integration Program for Immigrants and Visible Minorities, a strategic initiative that helps many new Canadians enter Quebec’s job market as traders. To be admitted to the Quebec Investor Program 2019, foreign investors must have a legally obtained minimum net worth of CAD$2 million, individually or combined with their spouse or partner. Assets that can be included in calculating the assets include real estate, bank accounts, stocks and bonds, as well as pension funds. Under Quebec’s investor program, inherited assets are classified as legally acquired, but the money from the gift or inheritance must have been received at least six months before the launch of a QIIP application. As of January 2019, $2 million Canadian dollars equals approximately USD 1.5 million, EUR 1.3 million or CNY 10 million. According to the Reputation Institute, Canada is the “most admired” country with the “best reputation” in the world, and the modern, safe nation offers immigrants a fantastic quality of life in a pluralistic society, all at an affordable cost of living.
USCIS Form I-829, called the “Entrepreneur’s Petition to Remove Conditions of Permanent Resident Status,” can be filed 90 days before the two-year anniversary of the date the EB-5 Visa was granted. EB-5 attorney, always make sure that your professional services include the preparation of a Form I-829 and do not formally complete it once the I-526 petition is approved. It is sufficient that the applicant includes a detailed business plan that convincingly states that the required jobs will be created and retained as a result of the investment. The business plan should explain why the size and nature of the new venture requires the creation of the new jobs, and should also include job descriptions for each position, as well as a schedule for hiring staff.
Over time, applicants may qualify for permanent residency under an appropriate immigration program. Yes, all Quebec residents are also residents of Canada and therefore enjoy the same benefits as people living in other parts of the country. One of these benefits is the ability to move and reside in any province of Canada, as guaranteed by the Canadian Charter of Rights and Freedoms. There is no such thing as a Quebec green card: People who emigrate to Canada under Quebec’s immigrant investor program receive a Canadian public relations card that is recognized from coast to coast. Citizenship-by-investment programs allow the applicant to quickly obtain citizenship without a required period of residence, or only a short nominal period measured in days or weeks.
While some Canadian immigration programs require applicants to have a Canadian job offer, there are several programs and options available to foreigners without a job offer in Canada. Although our law firm is based in Ontario, we can assist Canadians across the country in obtaining an investor visa for the United States. Whether you live in Vancouver, Calgary, Toronto, Montreal or any other city in Canada, our professional legal services are available to you! It also doesn’t matter if you’re a Canadian citizen, a Canadian permanent resident, or a foreign national legally working or studying in Canada.
These programs are often referred to as “golden visas.” The programs do not allow the applicant to obtain citizenship (see “Citizenship through Investment” and “Hybrid Programs” below). However, the person may eventually apply for citizenship using standard naturalization procedures after staying in the country for a required period of time. For the first two years, Canada EB-5 Investor Visa holders are granted Immigration to Canada by Investment conditional permanent resident status in the United States. After 24 months of compliance with the provisions of the investment immigration program, such as the requirement for job creation, conditional EB-5 Green Card holders can request that the terms be removed. Once approved by the U.S. immigration authorities, EB-5 participants officially become unconditional legal permanent residents of the United States.
In Canada, affidavits can also be sworn in in the presence of an oath commissioner or an affidavit from a commissioner. Because you can’t purchase Canadian citizenship through the Quebec Immigrant Investor Program, the term “Canadian citizenship by investment” is a pretty big chunk given the minimum four-year residency requirement to become a citizen. “Canadian Residence by Investment” or “Canadian Immigration by Investment” are much more accurate descriptions of the QIIP. EB-5 Investor Visa application is USCIS Form I-526, called “Immigrant Petition by Alien Entrepreneur.” There is no need to make the required investment before filing Form I-526, as long as the EB-5 candidate is in the investment process. A mere intention to invest, without having made a commitment to invest, is not sufficient to establish that the immigrant investor is in the process of making the EB-5 investment. If the required capital is not invested in a U.S. corporation or regional center, the funds generally must be held in an escrow account to approve the investor’s I-526 application by U.S. immigration officials.