Looking to invest in another passport? Canada Citizenship could be the ideal option for you. Through investment immigration programs, Canada’s investor visa invites entrepreneurs from across the globe to gain permanent residency into Canada, which could ultimately lead to citizenship.
These immigrant investor schemes grant successful candidates work permits to operate businesses in Canada. If the business model proves a hit, foreign investors are invited to apply for citizenship and, in the long run, permanent residency.
Read on to discover the ins and outs of Canada Citizenship by Investment. Here we share more on the various schemes available, the considerations surrounding business immigration, and the costs associated with an investor visa.
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Canada’s Investor Visa and Investment Immigration Programs
Canada’s Business Immigration Program was enacted as part of the Immigration Act as a way to heighten, encourage, and move forward the immigration of experienced business persons with the skills or finances to contribute to Canada’s economic growth.
There are several Canadian immigration schemes to choose from, all of which are bespoke to foreign investors, entrepreneurs, and companies.
Do your research when considering Canadian citizenship by investment, as choosing the right scheme will be detrimental to your success.
Canada Citizenship Investor Schemes
We’ve detailed more information on the various investor schemes available below:
Entrepreneur Visa (C11): This is a great option if you see yourself as an entrepreneur who is keen to invest in a Canadian company that already exists or you wish to launch a new business in Canada. To do this, you will be granted a temporary working permit. This will give you the green light to operate on Canadian soil. After one year of operating the company in question, you will be able to apply for permanent residency status.
Intra-Company Transfer (ICT): This method is another good option, especially if you are a foreign company that has an office in Canada, a company or a subsidiary, and you’re looking for ways to expand your existing operation. This business immigration route enables you to transfer employees from your existing office to your Canadian office. This could be through the likes of a secondment opportunity. These employees will be issued a temporary work permit. After one year of working in Canada, they will be eligible to apply for permanent residency.
LMIA Work Permit Program: Whether an investor or an entrepreneur, you are entitled to a work permit through the LMIA method. After two years of employment, this could mean you gain permanent residency. This option is perfect for you if you wish to hire staff from overseas. This is a popular option for those who need employees to cover niche skills.
Start-Up Visa Program (SUV): With this visa, you can be granted an open work permit, which can last up to three years. After you have completed the three years, you can apply for permanent residency in Canada. This method necessitates an investment commitment or a Letter of Support from a Designated Canadian Organization.
Let’s Learn More About Who Can Apply to Investor Schemes
Each scheme necessitates unique eligibility requirements. The application process for each may also differ. All of these routes do, however, share some common requirements. We have listed these below:
- A $250,000 investment, must be invested into a company in Canada.
- The owner of a successful company or an entrepreneur wishing to start a new business.
- Knowledge and skills in a certain field or a unique niche.
- Savvy business skills, and the ability, resources and knowledge to create a thriving company in Canada.
UK, US, UAE, Indian, or Australian citizens who match the above descriptions can apply for any or all of the schemes mentioned.
Other ways to obtain a visa?
- You must be classed as an entrepreneur,
- A skilled worker or a professional person,
- An investor with the correct amount of funds,
- A self-employed person, or
- An executive manager or someone who is senior in their industry.
From application and processing fees to a minimum investment sum, if you fit the criteria and have decided to apply for a Canadian passport, it’s important to research the criteria in advance, this way you’ll ensure a smooth application process in your journey to becoming a Canadian citizen.
It’s important to remember you’re not buying citizenship, you’re investing in a new or existing business venture in Canada.
The Many Advantages of Becoming a Canadian Citizen
Aside from living, studying, and working in this astounding country, there are an array of additional benefits to consider.
With a Canadian passport, you can also visit an array of other countries without the need to apply for additional visas, which not only saves time, it saves money too. This is a major benefit to those who wish to travel more, or have to travel to various destinations for work-related activities.
Canadian healthcare, the social welfare system, and the many educational opportunities this country has to offer are just a few of the other benefits you can expect to look forward to.
Furthermore, as a Canadian citizen, you can vote. On top of this, you will be given access to full mobility rights, as well as protection from deportation. Then there is high-level security clearance, family sponsorship, numerous job opportunities, a second passport, and dual citizenship to consider.
The Bottom Line
Talented entrepreneur? Someone who boasts unique skill sets? Owner of a thriving business and looking to expand? Or an investor who has funds to spend in Canada? If this sounds like you, you will have several immigration options and visas to choose from. Many of these can lead to permanent residency in this country.
If you have decided to bite the bullet and apply for citizenship in Canada, now is as good a time as ever to do so.
Just remember to pay close attention to investment amounts, qualifying requirements, and processing dates. Doing so will ensure a seamless application process.