To get the ball rolling this week, we will be looking at a residency by investment scheme in one of the most well-known and desirable nations for relocation Canada.
Residency by investment is, essentially, a program designed for individuals or families with high levels of disposable income willing to either invest in the country through projects or real estate, and in return receive a residency permit.
In terms of land area, the only country bigger than Canada is Russia, meaning in terms of landscape, biodiversity and adventure, there are not many countries with as much on offer.
Whether you are looking to explore the Rocky Mountains, watch ice hockey, or lose yourself in the urban centres of Toronto, Montreal or Vancouver, there will never be an end to the activities you can get stuck into, and the fantastic quality of life for residents and citizens alike is a further enticing factor for prospective investors.
Aside from the practical side of things, the free Medicare healthcare system, much in contrast to that of the neighbouring US, stands out as a benefit of Canadian residency alongside the education system. Both of these factors are also reassuring to investors looking to move abroad with their families too!
How does the program run?
These are the three most popular schemes in Canada for quickly obtaining residency:
1. Quebec Immigrant Investor Program
2. The Express Entry Program
3. The Provincial Nominee Program
Bearing these in mind, the underlying requirements for Canadian residency by investment include:
· Proof of business experience (typically involves proving management of a business for at least 2 of the last 5 years)
· Minimum net worth of CA$2 million
· Pass medical and security clearance
· CA$1.2 million interest free investment for 5 years in one of two government programs (money guaranteed by government to be returned after 5-year period)
Here are the steps to complete if you’re eligible to apply:
1. Complete application form
2. Submit passport to local embassy once accepted
3. Receive residency permit
4. Upon arrival you will be granted residency
There really aren’t that many steps, obviously, depending on the residency pathway you choose, at some point during the process you will be asked to make your investment, however, exactly when depends on the scheme you end up going for.
So, if you are interested in finding out more about Canada and the opportunities on offer to develop your professional career or personal business, contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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