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Definition and Requirements
In the new Immigrant Investor Program, an investor is defined as a person who has successfully operated, controlled or directed a business or commercial undertaking and has accumulated, through his or her own efforts, a personal net worth of at least $800,000 in Canadian funds. The applicant may use the following documents for this purpose:
1. evidence of funds.
2. business registration documents.
3. shareholders list and certificates, if applicable.
4. proof of ownership and valuation reports of any properties.
5. audited financial statements, balance sheets, profit and loss statements, tax records.
Investor applicants must have business experience. The applicant need not have full ownership in the business, if he or she was directly involved in the operation of the business. If the investor applicant has experience in an executive or managerial position, it is not necessary to own the business. If the applicant controlled a business, he or she need not have complete day-to-day control over all aspects of the business. However, the applicant must satisfy the visa officer that he or she meets the investor requirements outlined in the Regulations, and each case is decided on its own merits.
Investment
The Applicant must invest a minimum of $400,000 CDN for 5 years into an approved Immigrant Investor Program. The investment is secured by the provinces and territories against loss. Applicants must pay $400,000 CDN to the Receiver General for Canada before visa issuance, and investment money is not refundable after a visa is issued. The investment is guaranteed, and Citizenship and Immigration Canada will deliver a debt obligation in the same amount to the investor, which is repayable without interest after 5 years. If the immigration application is refused, the investment money will be returned upon refusal. It is important to note that investment is passive, investors are not involved in the business, and have no control over their funds during the 5-year locked-in period.
There are various investors' programs offered by Government approved funds and major Canadian banks. It may be possible to obtain a bank loan against the investment, for about 70% of the investment amount. Therefore, the investor may have the option to put a down payment of say $120,000 and then borrow the balance from Canadian banks or financial institutions. The interest will be deducted from the down payment.
Selection Criteria
Investors are assessed under the same selection criteria applied to independent applicants, except the category of occupational demand and arranged employment (please see Skilled Workers Class for details). Investor applicants are required to obtain points in the category of experience. An investor must attain a minimum of 25 points in the evaluation criteria as set out in the Regulations. Please note that the visa officer may exercise negative discretion and reject the application regardless of the units of assessment, if the applicant does not meet the definition of an Investor.
Conditions
The investor category is relatively simple and there are no conditions to be removed once accepted. The investor immigrant is not required to establish or purchase a business venture in Canada. However, they may pursue whatever business opportunities in Canada they wish.
If you are an Investor who is considering immigrating to Canada, and if you think that you may meet the above criteria, you may complete our confidential Assessment Form for Business Class. We will represent your case and process your application in a professional and timely manner, recommend Investment Programs that would be most suitable to your situation, and assist you in the arrangement of Bank Loans. Please see our Services for details.
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