Citizenship by investment is one of the most fluid and important concepts today. The main reason the idea has gained such acceptance is because of the promising opportunities it brings.
Like many countries, Canada has in recent years become a hotspot for immigrants from all over the world. Whether it’s lively career opportunities, a high standard of living, exceptional infrastructure or financial advantages, Canada is often voted one of the best countries in which to live.
In this blog below, we will take a detailed look at the Canadian citizenship by investment regime. For those who do not know, citizenship in this country is a viable option because it allows people to access the entire North American market.
Now let’s take a look at some indications of Canadian citizenship programs by investment:
Unlike other countries, several programs help people acquire Canadian residency by starting an investment. One of them is the Federal Start-Up Visa Program which allows people to set up their businesses in the country. Under this program, anyone can become a Canadian resident as long as they attract a huge investment from a venture capital fund or business angel.
Apart from that, the other condition to be fulfilled is a proven knowledge of English or French. Once all these criteria are properly met, it becomes easier to enjoy all the benefits associated with the citizenship program.the Provincial Nominee Program is another program that categorizes the different provinces of the country for starting a business.
- What type of investment is required?
Under the Federal Startup Visa Program, applicants are required to complete three types of investment programs. First and foremost, if the investment is from a designated Canadian venture capital fund, the applicant must guarantee a minimum investment of $ 200,000. If by any chance a famous angel investor invests in your business, then you need to secure a minimum amount of $ 75,000. In some cases, just being accepted into the Canadian Business Incubator program also works for individuals.
- Other eligibility conditions to follow:
In addition to making the required investment, an applicant must comply with the following criteria. First of all, the applicant must be a minimum age of 18 years and over, without any criminal record or violation of immigration law. For entrepreneurs looking for business opportunities, a valid business plan and work experience are mandatory. It is only after all these criteria are met that the application process is finalized and citizenship is granted.
- Benefits of Canadian citizenship by investment:
There is no doubt that the Canadian economy is booming every year. This opens up gargantuan opportunities for both foreign investors and businessmen in return for their contribution to the local economy. Besides these benefits, there are several other benefits that people can consider.
On the one hand, the quality of life and economic freedom promised by the country are still unmatched, which is supported by quality education, health care, religious and ethnic tolerance. Apart from that, the high standard of living associated with a democratic pluralistic society and access to around 160 countries is an additional happiness for most people.
- When do you get citizenship:
The application for Canadian permanent residence is mainly divided into two phases: regional and federal. All individuals wishing to obtain permanent residence in Canada must have spent five years as a resident or at least 1,095 days. In addition, once a person obtains Canadian citizenship, they do not have to actively do anything to retain it.
Canada allows individuals to have dual nationality, which means you do not have to give up your current nationality. Each year, the North American nation welcomes approximately 400,000 new permanent residents who take an oath of loyalty by pledging to uphold the privileges offered by the government.