Popular Canada Immigration Scheme May Reopen

04 Jun 2013

The Quebec programme has been closed for more than a year

Although it has not been officially announced, rumours are that the Quebec Immigrant Investor Programme will reopen and begin accepting a limited number of applications on August 1, 2013.

The programme, which leads to a Canadian permanent resident visa, has been closed for more than a year.

Applicants must be able to demonstrate that they have legally acquired a net worth of CAD $1.6 million, alone or with the help of their spouse or common-law partner. When accepted, the applicant will have to invest CAD $800,000 through a government-approved financial institution into a government-controlled corporation for a period of five years at a zero rate of return.

In addition, applicants must have at least two years of management experience within the last five years.

"Interestingly, the management experience does not have to be in a commercial or industrial enterprise. As long as the experience is managerial in nature, it can be in agriculture, government or in an international organisation," points out the Citizenship and Immigration Canada (CIC) on its website.

"Because the Quebec government stands behind the repayment of capital, financing the investment is an option," recommends CIC.

Due to the closure of the programme and a limited number of applicants accepted, the program is known to be filled within days after opening.

"The last time a Canadian immigrant investor programme opened to a limited number of applicants, it filled in a matter of days.

"Unless a candidate is willing to begin preparing an application in advance, there is little chance that there will be sufficient time to gather supporting documents and submit the required forms before the quota is reached. In my opinion, the applicants who begin the process now are maximising their chance for success,” commented Attorney David Cohen, Canadan Immigration Lawyer.

Source: http://www.emirates247.com/news/emirates/popular-canada-immigration-scheme-may-reopen-2013-06-02-1.508775