Citizenship by investment is one of the most fluid and prominent concepts today. The major reason why the idea has experienced such enormous acceptance is due to the promising opportunities it brings with it.
Like many countries, Canada in recent years has become a hotspot for immigrants all across the globe. From bustling career opportunities, high standard of living, outstanding infrastructure to financial benefits, Canada is frequently voted as one of the best countries to live in.
In this blog below, we will take a look at the Canadian citizenship by investment scheme in detail. For those who don’t know, citizenship in this country is a viable option as it allows people to access the entire North American market.
Let us now check a few pointers on Candian Citizenship by Investment Programs:
Unlike other countries, several programs help people acquire Canadian residence by starting an investment. One among them is the Federal Start-up visa program that allows people to set up their business in the nation. Under this program, anyone can become a Canadian resident provided he/she attracts a huge investment from a venture fund or business angel.
Apart from this the other condition to meet is a proven knowledge of English or French. Once all these criteria are duly met, it becomes easier to enjoy all the benefits associated with the citizenship program.The Provincial Nominee Program is another program that categorizes different provinces in the country for starting a business.
- What Kind Of Investment Is Required?
Under the federal start-up visa program, the applicants are required to follow three types of investment schemes. First and foremost if the investment comes through a designated Canadian Venture fund, then the applicant must secure a minimum investment of $200,000. If by any chance a famous angel investor is investing in your business, then you must secure a minimum sum of $75,000. In some cases merely getting an acceptance into the Canadian Business Incubator program also works for individuals.
- Other Eligibility Conditions to Follow:
Besides making the required investment, an applicant must comply with the following criteria. First of all the applicant must have a minimum age of 18 and above with absolutely no criminal record or breaches of immigration law. For entrepreneurs looking for business opportunities education, a valid business plan and work experience are mandatory. Only after all these criteria are met the application process is finalized and citizenship is granted.
- Benefits of Canadian Citizenship by Investment:
There is no doubt that Canada’s economy is booming at a fast rate every year. This opens gargantuan opportunities for both foreign investors and businessmen in exchange for their contribution to the local economy. Apart from these perks, there are several other benefits which people can consider.
For one, the quality of life and economic freedom that the country promises is still unmatched which is supported by quality education, healthcare, religious and ethnic tolerance. Apart from this, the high standards of living coupled with a democratic pluralistic society and access to around 160 countries act as an added bliss for most individuals.
- When Do You Get Citizenship:
The application for Candian permanent residence is mostly divided into two phases: regional and federal. All individuals who want to attain a permanent residency in Canada must have spent five years as a resident or at least 1,095 days. Moreover once a person obtains Canadian citizenship they do not have to do anything actively to retain it.
Canada allows individuals dual citizenship which means you don’t have to renounce your current nationality. Every year the North-American nation welcomes around 400,000 new permanent residents who take loyalty oaths pledging their commitment to the privileges offered by the government.