The two programs for permanent resident status in Canada almost have similar application and assessment criteria that have to be fulfilled. However, the quotas for any of the schemes may be filled at a given time and it is essential to have detailed knowledge of their application quota status
Canada is well renowned across the world as a cosmopolitan society and as a destination that is welcoming to individuals from across the globe. The country also boasts of a high living standard, comprehensive social security legislation, and a well preserved natural environment. It is home to some of the most liveable cities in the world including Vancouver, Toronto, and Calgary which have been ranked at 3rd, 4th, and 5th respectively.
The Canadian Government has tried to promote investment in the country and attract wealthy businessmen into the country. The Government has started two schemes under which the investors and their immediate family members can claim for a Permanent Resident status in Canada.
The two programs are called:
- The Federal Immigrant Investor Program, and
- The Quebec Immigrant Investor Program
The two schemes almost have similar application and assessment criteria that have to be fulfilled. However, the quotas for any of the schemes may be filled at a given time and it is essential to have detailed knowledge of their application quota status. Under most circumstances the criteria for application are as follows:
(a) The investor has to have proper Business Experience as defined under Regulations and the investor must have previously managed or operated a business at least for two out of five years preceding the application.
(b) The combined net worth of the couple must exceed CAD 1.6 million with legitimate funds.
(c) The family must have passed Medical and Security evaluations as per the Canadian Government requirements.
(d) An investment of CAD 800,000 must be made for 5 years in two Government Guaranteed investor programs where the amount will be paid back without any interest at the end of the period.
The investors might also be able to seek Citizenship status in Canada subject to the fulfillment of certain conditions. We at Empire can guide you through the entire process of application and obtaining the permit with minimum hassles.