A direct investment can be used to create a new business or to modify or expand an existing business. Canadians who choose the EB-5 direct investment route must take an active role in running the business and are responsible for directly creating ten full-time jobs in the first two years of the operation. An investment in an EB-5 Regional Center brings together investment capital from many immigrant investors in a large investment fund. Regional Center fund managers then invest this money in new commercial ventures commonly referred to as EB-5 projects. Potential immigrants who invest in an EB-5 Regional Center never have to play an active leadership role.
These are often referred to as “golden passports” or “cash per passport” programs, which offer visa-free travel and potential tax benefits. A growing number of countries offer programs for immigrant investors, with about a quarter of all countries issuing such visas as of 2015. Canada offers several immigration programs that allow permanent residents and citizens to bring their relatives into the country.
This year, Canada plans to welcome 105,000 new permanent residents through family sponsorship programs.
Investors’ money is invested in securities and profits are used to develop the region and help local entrepreneurs and migrantsA Canadian passport per investment can only be obtained 3-5 years after the investment. The applicant must then live in Canada for 3 years and spend at least 183 days a year for each of the 3 years there. The Quebec Selection Certificate Application requires a large amount of documentation that must be submitted to support the investor’s file. Documents submitted in a non-compliant format may result in the rejection of an investor application or the return of the document to the sender.
A qualified Canadian immigration attorney with extensive experience in preparing Quebec Investor Program applications can ensure that a client’s file effectively communicates any characteristic they possess that could potentially strengthen their application. Before moving to Canada, all individuals included in a Canada investment visa file must also pass a medical examination, as well as security and criminal checks. The vast majority of all Canadian permanent residents have not offered a job in Canada when they apply.
If you have any questions about the EB-5 process or how to obtain an investor visa for the United States, we are happy to offer you free advice. In addition, the Quebec Immigrant Investor Program also brings Canadian permanent resident status upon landing initially, without temporary interim status. The applicant’s immediate family members may also be included in the application and obtain Canadian permanent residency, enjoying all the benefits this status provides, including universal health care and access to world-class education. Although Canada has many different immigration programs, the Québec Investor Visa offers a route to Canadian citizenship through investment. As long as the applicant has met all other requirements, such as physical residence, they can apply for citizenship after 3 years. It is for these reasons that entrepreneurs, entrepreneurs and investors aspire to become Canadian citizens.
In February 2014, the Canadian government announced the cancellation of the immensely popular Federal Immigrant Investor Program, closing the door to 59,000 applicants whose pending applications were immediately canceled. However, many of these former candidates for the federal program are still interested in obtaining Canadian citizenship through investment and consequently, the upcoming opening of the Quebec Investor Program may reach its capacity very soon after it begins. Tax rules in Canada provide unequivocal benefits to many immigrants that may allow them to increase their wealth more efficiently. Canada has no wealth tax or inheritance tax, and people who are accepted for immigration to Canada through the Quebec Investor Program have the option to establish an offshore trust before moving to Canada, which allows them to delay paying income taxes for up to five years. Canadians enjoy more favorable income tax rates and corporate tax rates than residents of most other countries in the West, and Canada has signed tax treaties with dozens of countries around the world to avoid double taxation of their citizens.
To maintain permanent resident status, physical presence is required for two of the five years in Canada. Many people confuse Canada’s former Immigrant Investor Program with Quebec’s current investor immigration program. While both economic Immigration to Canada by Investment citizenship programs were extremely similar to identical investment and wealth requirements, only the Quebec Investor Program currently operates as a gateway to Canada for wealthy entrepreneurs who have the citizenship of each country.