Canada offers an "investor immigration program" for business entrepreneurs, self-employed person and investors coming from outside Canada who can substantially invest in Canadian economy and development which includes creating new jobs and businesses.

Under the program a permanent residence in Canada can be obtained by the investors. The investor must be considering to live outside Quebec as different rules apply to the investor program offered by Quebec.

Application Criteria

1. Applicant investors are required to show that they acquired their net worth of at least CDN $10 million through lawful profit-making business or investment activities.

Personal net worth acquired through inheritance or in the value of the primary residence of the investor does not count, as these are not considered "business or investment activities" for the purpose of this program.

Citizenship and Immigration Canada ("CIC") will require applicants whose applications can be considered for the second stage review to obtain a due diligence report at their expense from one of the designated service providers. This report is an independent examination and validation of the investor's past business or investment experience, source of funds and personal net worth.

2. The investor is required to provide CDN $2 million for the Immigrant Investor Venture Capital Fund. This fund will invest in Canadian start-ups with high growth potential and will be managed by BDC Capital, the investment arm of the Business Development Bank of Canada.

An agreement will be entered into with CIC detailing the management of the fund, terms and conditions. This agreement is required to be signed before the CDN $2 million at-risk (non-guaranteed) investment is made.

3. The investor must prove proficiency in English or French in all four language abilities (speaking, reading, listening and writing).

4. The investor must have a completed Canadian post-secondary degree, diploma or certificate of at least one year or a foreign equivalent.

Processing and Permanent Resident Visa

Applications are processed between 8-9 years.

If the application is approved a permanent resident visa will be issued. This visa includes the Confirmation of Permanent Residence (COPR) and, if the investor is from a country whose nationals require a visa to enter Canada, an entry visa.

Holder of the permanent resident visa have the right to:

  • receive social benefits that Canadian citizens receive, including health care coverage,
  • live, work or study anywhere in Canada,
  • apply for Canadian citizenship.

Application for Citizenship

Investors with permanent resident visa may apply for citizenship as per the following conditions:

  • to have a permanent resident (PR) status in Canada with no unfulfilled conditions related to that status,
  • to have been physically present in Canada as a permanent resident for at least 1,460 days during the six years immediately before the date of your application and to be physically present for at least 183 days during each of four calendar years that are fully or partially within the six years immediately before the date of application,
  • to fulfill the personal income tax filing obligations in four taxation years that are fully or partially within the six years immediately before the date of application,
  • to declare the intent to reside during the citizenship application process,
  • to show adequate knowledge of English or French language,
  • to understand the rights, responsibilities and privileges of citizenship, such as voting in elections and obeying the law and showing, in English or French, and understanding Canada's history, values, institutions and symbols.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.