Country Spotlight: CANADA 🇨🇦

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QUICK FACTS

Capital city: Ottawa
Population: 37,797,496 (2019)
GDP in current prices: USD $1,900 trillion (2019)
GDP real growth: 2% (2019)
Area: 9,984,670 km² (land 9,093,507 km²)
Government: Federal parliamentary constitutional monarchy
Monarch: Queen Elizabeth II
Governor-General: Julie Payette
Prime Minister: Justin Trudeau
Currency: Canadian dollar (CAD)
HDI: 13th (2018)
Ease of doing business index: 23rd (2019)
Time zones: Ontario and Quebec – GMT -4 / Alberta GMT -6 / British Columbia GMT -7
Dialling code: 1 

Citizenship by Investment

Canada was one of the first countries to operate immigration investment programmes, launching its Federal Immigrant Investor Program (FIIP) in 1986. However, this was closed permanently and suddenly in 2014. Since then, the Quebec Immigrant Investor Program (QIIP) has been a very popular scheme for business owners and company directors. However, the intake of permanent selection applications under the Investor Program has been suspended from 1 November 2019 to 31 March 2021 while the program is reviewed.

Immigrant Investor Programs 

The immigrant investor programs were designed by the Canadian government to attract businesspeople and their capital to Canada. Investors and their family can gain permanent residence in Canada by complying with the following statements:

1. You must demonstrate valid business experience

2. You – or you and your partner – must have a net worth of a minimum of CAD 2 million.

3. You and your family must pass Canada’s medical and security evaluations.

4. You must invest – as a government-guaranteed investment – CAD 1.2 million for a period of five years at no interest (0%) under one of the two available immigrant investor programs. The investment will be repaid in full at the end of the investment period.

5. You must settle and spend a certain amount of time in Quebec

There are several programs to become a permanent resident of Canada:

  • The Quebec Immigrant Investor Program
  • The Express Entry Program (federal)
  • The Provincial Nominee Programs

Applicants who want to establish themselves economically in the province of Quebec have to obtain a certificate of selection of Quebec (CSQ) before applying for permanent residence to the Government of Canada. Applicants and their dependents will be assessed on health and security grounds. Holders of a CSQ are required to reside in the province of Quebec.

Why invest in Canada?

Canada is a country in the continent of North America, stretching from the Pacific Ocean in the west to the Atlantic Ocean to the east and sharing a land border with the United States to the south and the US state of Alaska to the northwest. Its northern territories extend well into the Arctic Ocean with the Danish territory of Greenland situated off to the northeast. 

Canada is a highly advanced country with the 10th largest economy in the world and a very high Human Development Index (HDI). Importantly for anyone thinking of migrating, Canada is one of the most ethnically diverse and multicultural countries in the world with extremely high degrees of civil liberties and quality of life. A founder member of the Commonwealth of Nations and the United Nations, it is also a member of the G7. Canada is also one of the wealthiest countries globally, ranking 8th in the 2018 Credit Suisse listings with USD $8,319 billion. 

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