The “Investor Visa” Application Requirements
April 2, 2019
Over the years, I have helped many people to get their permanent resident visa through the investor visa program. This is the Canada investor immigration program which effectively allows you to buy your visa to come to Canada and you are not required to work in Canada or to run a business in Canada in order to get permanent residence using this type of application. It also often a good fit for retirees.
There are three main requirements for the Visa. You are not required to have any language tests done for this type of visa.
The first requirement is that you must have at least two years of business management experience within the past five years.
The second requirement is that you must have at least a CAD$2,000,000 net worth. Net worth is defined as your worldwide total assets including your home, investments or business minus all of your debts. This includes the assets and debts of your spouse if you have a spouse or partner. You are not required to sell or move any funds or assets in order to get the visa.
The third and final main requirement is that you must loan the government CAD$1.200,000 for 5 years. The government guarantees that they will return your funds without any interest after 5 years. It is very important for you to know that you do not need to take CAD$800,000 out of your pocket or out of your assets in order to make the loan to the government. Rather you may borrow the money from any lender anywhere in the world. However if you borrow the money from some Canadian Banks then you do not need to put up any security for the loan since these Canadian lenders know that the government guarantees the return of the funds. So you are allowed to pay the bank at one time payment which includes all administrative costs and the interest. This is effectively the purchase price for your Visa. As of April 2019, it is usually around CAD$300,000 to CAD$350,000.
This program has a very small window of time for applying every year because the spots are all taken up very quickly after the program opens usually in April or May of each year.
This program is run through the Quebec government and you are given full Canadian permanent residence status if approved.
The Government Commission
The investor visa is one of the focus areas of our firm. Some advisors and banks do not reveal all of the details of the commission paid by the government to the bank that handles the loan to the government. The bank usually passes on part of the commission to the advisor who represents you with the government. Advisors can be immigration consultants or immigration lawyers. Please see Frequently Asked Questions (FAQ) page for the difference between these two kinds of advisors.
We believe it is unethical for an advisor or a bank not to fully explain in detail how the commission works and to get your approval of the amount of the commission. The commission may create conflicts of interest between you and your advisor and the bank that you are dealing with. To avoid this conflict of interest, you should be made fully aware of the commission so that our loyalty is only to you and your best interests.
The Immigration Process
The process is likely to take 2-3 until you have your permanent residence. This is the processing time as of January 2017 and it may change significantly.
With our 23 years of experience advising immigrants, we will advise you and prepare your application so that your application is well supported and is as strong as possible. This will reduce the risk of delays and refusals.