All You Need to Know About Canada Investor Visa

Canadian government offers Immigrant Investor Program (IIP) to attract experienced businesspersons of foreign countries to contribute to Canada’s economic growth by investing in its economy. Through this Canada investor visa program, investors can get permanent residency in Canada. To become eligible under this category, foreign nationals have to meet the following criteria:

• They must have adequate business experience
• They must have a minimum net worth of CAN$1,600,000
• They must invest at least CAN$800,000 in Canada’s economy
• They must have earned this money legally

Additionally, as an applicant you also need to obtain minimum 35 points in a selection grid to prove that you will be able to economically establish yourself in Canada. You also need to provide supporting documents for the information you provide in your visa application. CIC (Citizenship and Immigration Canada) will make the decision on your application after assessing you on the following factors.

• You meet the eligibility criteria for the program
• You have sufficient funds to support yourself and your family in Canada
• The result of your medical exam (For your health status)
• The information on your police certificate (For your character status)

What is different about IIP is that unlike in other investor programs, here foreign nationals have to make investment only once, when they enter Canada. Here is how the Immigrant Investor Program works.

• After receiving immigration approval from CIC, you invest in Canada’s Economy
• CIC will divide your investment among the participating provinces and use the money to create new jobs and for economic growth of  Canada
• After 5 years and 3 months, when you are a permanent resident of Canada, CIC will return your money without interest

It is important to note here that once your application is approved by Canada Immigration department, you need to make the investment within 30 days. Only after the investment, CIC will issue you the permanent residency visa. The department will also send you a letter explaining how to go through the investment process and the deadlines.

It has been observed that many potential foreign investors, although able to meet the net worth requirements, find it difficult to raise the assets to make the investment within the allotted time period. To address this concern, Canadian government gives applicants option to finance their investment. CIC has agreements with a number of Canadian financial institutions that facilitate financing for the investment. Applicants can take loan from these financial institutions for up to 70% of their investment.

It is clear that Immigrant Investor Program has many complexities, especially if you are new to the immigration process. Therefore, it is recommended to take assistance of a professional Canada immigration consultants, so that you can go through the process smoothly. A consultant not only will assist you with the immigration process, but will also help you in collecting the assets for the investment.