Myriad investment options for immigrants in Canada

It has long been suggested that there is no welcome policy for investors looking to immigrate to Canada. This was no less than true for as long as the Federal Investment Programme has firmly rejected any new application. However, with the re-opening of the Quebec Investor Programme this summer the door has slightly opened for interested investors.

It may not be for everybody and available as we speak, but in August this year Quebec re-opened its long awaited and only Investor Programme in the country. Due to its popularity the intake cap of 1750 applications was filled within days, but there are other options.

Investors are eligible for the programme if they are able to invest CAD800,000 (Dh2800,000) for 5 years, or make a one-time payment of CAD220,000 (Dh760,000) with a financing option.

In return for the investment the province will provide a Quebec Selection Certificate and that will be transferred into a permanent resideny for the investor and his/her family on the federal level.

Although the initial intake took place from August 1 to 16, this intake restriction did not apply to investors able to demonstrate an advanced intermediate knowledge of French. Further, the intake cap does not apply to this category of applicants. So if your French is up to the required level, the door to investment is wide open.

Other than the investment and language proficiency, the investor will need to demonstrate a net worth of at least CAD1.6 million (Dh5.53 million) and managerial experience.

Further, per August 2013 a new fee structure applies, requiring an initial fee of CAD10,000 (Dh34,600).

When the application is accepted the applicant may be invited for a selection interview, in which the applicant will be asked about his intention to settle in Quebec, his management experience, his assets and their lawful aquisition.

Quebec applies its own rules and regulations relating to immigration and has historically been a popular alternative to the competitive federal immigration programmes.

More recently, the overall intake of applications in Quebec outpaced the intake on the federal level.

Since the province introduced an intake cap on overall applications in August this year, a total of 4,000 applications were received. In twice the amount of time 31,00 applications were received on the federal level.

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