The Canadian administration has so many laws and rules when it has to do with becoming a national. A lot of people are deciding to take the difficult procedures of becoming a national by investment, which has to do with sacrificing one’s business interests and investing in Canada for the liberty of affirming permanent residency.
Citizenship by Investment
Citizenship by investment is a legitimate tool that permits International citizens to acquire Canadian nationals using a procedure of investing in Canadian properties, enterprises, or other investments. It is turning out to be highly famous among migrants and foreign investors pursuing paths to become nationals of Canada.
Advantages of Canadian Citizenship by Investment
- Liberty to live and get employed in Canada permanently
- Freedom to vote in elections in Canada
- Freedom to handle a Canadian passport
- Privilege to serve in the Canadian Armed Forces
- Freedom to protection under Canadian law.
Threats of Becoming a Canadian Citizen by Investment
There are several threats connected with becoming a Canadian national by investment. These threats have to do with the following:
- The candidate may not be eligible for citizenship due to their residency or investment measures.
- If the candidate becomes eligible, they may have to wait long for their application to be run.
- The citizenship procedures may be difficult and costly, which could affect the candidate’s capacity to become a Canadian national on time.
- If the candidate is denied citizenship, they may not be able to plead the judgment and may forfeit their PR status in Canada.
- The candidate’s qualification for citizenship may be affected by offensive convictions or other problems that arise at the time of the application procedures.
Things to Understand About Canadian Citizenship by Investment
If you seek to become a Canadian national using investment, below are some things to understand:
- You need to have lived in Canada for the least period of 24 months before making an application.
- If you are already a Canadian national, you can still make an application for citizenship using investment if you satisfy the other provisions.
- The citizenship procedure takes about six months to one year, and you are required to take the citizenship exams.
- You will be required to offer proof of your earnings and assets and also evidence of your residency in Canada.
- Those who invest in Canadian citizenship using the Citizenship by Investment Program will obtain a certificate of citizenship that is authentic for five years.
Those Qualified to Become a Canadian Citizen by Investment
To become a national of Canada by investment, you have to be:
- A PR of Canada for a minimum of 3 years.
- You have to be 18 years and above
- Have a valid passport from your nation of origin
- Reside in Canada for six months before making an application for citizenship
- Not be condemned for any offence that would forbid you from residing in Canada
- Not be a peril to the security or public good of Canada.
- Not be qualified for Canadian citizenship via birth
- Have satisfied every other provision for citizenship, which includes language exams and knowledge exams.
Some Nations Qualified for Canadian Citizenship by Investment
The following nations are presently qualified for citizenship by investment in Canada: Spain, Australia, South Korea, Austria, Slovenia, Belgium, Slovakia, Brazil, Singapore, Bulgaria, Romania, Chile, Portugal, China, Poland, Columbia, Norway, Croatia, New Zealand, Cyprus, The Netherlands, Czech Republic, Malta, Denmark, Luxembourg, Estonia, Lithuania, Finland, Latvia, France, Japan, France, Italy, Germany, Hungary, Ireland and more.
Various Canadian Citizenship by Investment Programs
- Private Canadian Citizen Program
If you aspire to become a Canadian national via investment, then the private Canadian Citizen Program can be the choice for you. The program permits you to become a Canadian national by investing a least sum of CAD 150,000 in real estate or business in Canada. If you are successful in satisfying the provisions of the program, you will be capable of making an application for citizenship via investments and find pleasure in every freedom and liberty that arrives with becoming a Canadian national. Also, you will be qualified to vote and handle public office in Canada.
The provisions of the private Canadian citizen program are stringent, and if you can satisfy them, it could be the best way to become a national in Canada. For more details, you can reach out to a reputable immigration attorney.
- Canadian Immigrant Investor Program
The CIIP is a well-known program for immigrants to Canada. The Canadian Immigrant Investor Program permits immigrants to make applications for citizenship in exchange for an investment of a minimum of $1 million in a Canadian enterprise or real estate project. The Canadian Immigrant Investor Program has been developing in vogue since it was established in 2016. In 2016, the program obtained 5,047 requests, an increase of 25 percent from the 4,654 requests in 2015. Most candidates come from China and India, with requests from other nations also on the rise. The CIIP provides many advantages to candidates, which include:
- Citizenship in only four years
- Exemption from deportation
- A route to PR
- Entry to several administrative benefits, such as healthcare and education
- Children birthed in Canada are automatically permitted citizenship
- No revenue tax on earnings gained while settling in Canada as a national
- Quebec Immigrant Investor Program
The Quebec Immigrant Investor Program is a Canadian immigration program that provides permanent residency to international citizens who invest the least sum of $800,0000 in a qualified business in Quebec. The Quebec Immigrant Investor Program is available to persons who are eligible investors and possess an endorsed investment proposition. The program is organized to entice entrepreneurs and experienced workers from all over the world and is one route to Quebec to elevate its financial competitiveness. To be qualified for the Quebec Immigrant Investor Program, candidates have to be outside of Canada at the period of application, possess a valid passport, and be capable of offering evidence of income and net worth. The candidate must also have enough understanding of French or French-based creole.
- Business Investor Program
The Canadian Business Investor Program was established in 1989. The Canadian Business Investor Program is an immigration program that strived to entice international investors to Canada. It provides many advantages, which include PR and Canadian citizenship. To be qualified for the Canadian Business Investor Program, you are required to invest a minimum of $1 million in an eligible Canadian enterprise. The business has to be enrolled with the Canada Revenue Agency and is required to have been in function for a minimum of 24 months. After investing in the business, you can remain in Canada as a permanent resident if you satisfy the qualification provisions.
If you have an interest in making an application for the CBIP, you can reach out to the Royal Bank of Canada Immigrant Investor Center. Royal Bank of Canada is among the partaking banks in the CBIP and will assist you with all your visa and relocation requirements.