NEWS AND EVENTS
Canada
Canada is one of the most hospitable countries in the world. Canada holds a strong position in the international business market. Due to a very stable democratic regime, low crime level and perfect legal system, Canada is a reliable base to construct the future. Canada offers big possibilities for expatriates to start a better life with higher standards, to receive reputable education and medical insurance; and guarantees defense of human rights and security to live in a free multinational country.
The Migration law of Canada has been subject to considerable changes. Nowadays the immigration rules comply with merit point system. However Canada is interested in immigration of particular specialists who will receive additional points.
The special programs exist for active and passive investors, as well as for entrepreneurs. Business immigration can go through two options: federal and provincial (thus, the Quebec program is the easiest and fastest way for immigration to Canada).
Requirements
The main requirement for “Investor” qualification is availability of funds amounting to no less than CAD 800,000, 400,000 from which should be invested into the economy of Canada for the period of 5 years on the security of the state. At the end of investment period, the funds will be returned free of any interest. Apart the standard scheme (of CAD 400,000) investment companies offer some other financial options. Thus, an applicant can transfer CAD 130,000 to the investment fund account irrevocably, instead of investing CAD 400,000 for 5 years. An investor should owe and manage a company within at least two years, or just manage a company staffing no less than 5 employees within two years. The option of owing and managing the company within a year each is also available under the above mentioned conditions.
Speaking about the program for entrepreneurs, we should underline that under this category only persons who have the possibility to start up the business in Canada provided the company will employ more than just 1 national can qualify. Another option is to purchase at least 33,3% of the already working business in Canada. An entrepreneur should also possess no less than CAD 150,000 of individual means on bank accounts, in real estate, shares, etc for some provincial programs, and for the federal program the amount is equal to CAD 300,000.
Procedures and Timeframe
Once the Government of Canada (its particular province) grants the positive resolution, an applicant undertakes to transfer the means to the chosen investment fund. After that the documents should be submitted at the relevant Canadian Diplomatic Post and standard procedures to be undergone: medical examination, no criminal record assurance, credibility of provided data and documentation. In case of successful result, an applicant will be issued with entry immigration visa for Canada.
At first an applicant will be granted with 3-year immigration visa. At expiry of this period, the applicant has the right to submit the application for the citizenship of Canada, provided that all the requirements on which basis the visa was issued are still satisfied. The period of processing is 10 months.
Dual citizenship
There are no restrictions on dual citizenship in Canada. Therefore an applicant does not loose his/her current citizenship and at the same time will acquire the citizenship of Canada.
Advantages of Canada’s citizenship
The immigration system of Canada is unique as when an applicant meets all the requirements stipulated by the program, s/he receives a permanent residence permit and not a temporary one (as in many other countries). The status of permanent resident gives to an investor the equal right with native citizens.
Canada is one of the most economically developed countries in the world that has a very good system of social and medical security, but at the same time the cost of living is considerably lower that in other developed countries (like USA or UK). All citizens of Canada residing in the country legally have the right for free health services, educations for children. Canada offers very high level of pensions and allowances for retirees and disabled persons.
The passport of Canada allows to travel visa-free to more than 70 countries worldwide.