Canada’s adoption of new immigration policies in 2015 changed various factors of the previously easily-reachable immigration destinations. The 2015 plans for immigration in Canada takes into account the key role of immigration prospects in Canada’s economic development and expansion. As for 2016, Canada aims to continue to boost developments and opportunities for interested investors who wish to attain Canadian residency or citizenship.
The Liberal government of Canada aims to grant access to 305,000 new permanent residents in 2016 which is the highest amount of intake in decades, and an increase of 7% in comparison to the 2015 plan. Also, the 2016 plans indicate an increase of approximately 20,000 new permanent residents to be accepted from 2015. Similarly, there was also an increase of 20,000 during the year 2015 from the previous year, and thus 2016 plans show that there will be an increase of 40,000 when compared to permanent residents accepted in 2014.
In expanding immigration plans, Canada’s aspirations pave the way in attracting workers that will enable successful outcomes in Canada’s labor force as well as easily become a part of Canadian society.
Economic immigration grants foreign investors and their immediate families the opportunity to immigrate to Canada, via a range of programs, according to skills and experiences. Out of the total immigrants to be accepted for permanent residency in Canada in 2016, the selection of economic immigrants is estimated to range between 151,200 and 162,400.
Previous immigration application processes included a large range of programs to fit a variety of applicant profiles; however, this has now changed to one system for any individual that would be selected to proceed where a minimum number of points had been achieved.
Canada’s provincial programs now enable a choice of options and opportunities whether associated with the federal system or not, and thus the Express Entry system is not the single potential opportunity for those interested in immigrating to Canada.
In particular, Canada’s province of Quebec offers a much preferred and popular immigrant investor program referred to as the Quebec Immigrant Investor Program (QIIP). This program is tailored to wealthy immigrants who wish to invest and settle in the province of Quebec. In exchange for a minimum investment in the local economy, Canadian residency can be obtained.
The Quebec Immigrant Investor Program (QIIP) is designed by the Quebec government to attract investors and their capital to Quebec, Canada. By investing in Quebec, the applicant and immediate family are granted permanent residency in the province of Quebec as well as all over Canada, and thus investors are free to reside in any desired province of Canada. The program is highly popular as it is one of the more accessible investor programs in the region, and a welcoming alternative to the previous federal investor route, which has been closed for some years. It is the first of its kind in Canada, and the second biggest program in North America followed by USA’s EB-5.
In order to qualify for the QIIP, the applicant is required to show a minimum net worth of CAD $1.6 million, all obtained legally. For individuals that may not meet the QIIP net worth threshold and still wish to obtain permanent residency in Quebec and across Canada via a different program, the province of Quebec presents alternative options including the Quebec Entrepreneur program.
The Quebec Entrepreneur business program is aimed at individuals who possess entrepreneurial skills and who intend on investing in and operating an agricultural, commercial or industrial business in Quebec in return for the opportunity to obtain permanent residency in Canada. For this investment path, applicants must have a minimum of CAD $300,000 net worth, legally acquired.
As another option for investors looking to move to Canada, the province of Manitoba also eases the course for individuals in which applicants are only expected to hold a minimum net worth of CAD $350,000.
For more information on the Quebec Immigrant Investor Program (QIIP), please click here.
For more information on the Quebec Entrepreneur program, please click here.
For more information on the Manitoba Provincial Nominee Program (MPNP) and a comparison to other provincial nominee programs in Canada, please click here.
Feel free to fill out our Free Assessment, and find out if you qualify under any of the business immigration programs offered.