Differences Between Canadian Permanent Residency (PR) and U.S. Green Card
canada program |
usa program |
US Green Card |
Canada Permanent Residency |
US Permanent Residency |
QIIP vs. USA EB-5 |
USA EB-5 Program |
QIIP 2017 |
April 2, 2017
Should I Immigrate to Canada or the United States? At QICMS, we receive many inquiries about immigration to Canada and the United States through various business investment programs offered by our firm.
One of the most common questions asked is what the differences are between Canadian Permanent Residency (PR) and a U.S. Green Card offered through the countries’ immigration programs. So much of these answers depend on your targets. You do have to think about the difference in culture, your preferences as far as where you’d like to live, and how you feel you could best gain personal victory.
Below we will outline what each type of residency allows.
*U.S. Green Card holders risk losing residency status and/or right to re-enter the country if they remain
Canadian Permanent Residency (PR)
Quebec Immigrant Investor Program
|U.S. Permanent Residency
(U.S. Green Card)
EB-5 Immigrant Investor Program
|Permanent Residents can live, work, and study anywhere in Canada
||Permanent Residents have the right to live, work, and study anywhere in the U.S.
|Spouse and dependents under the age of 19 are included for Canadian PR
||Spouse and dependents under the age of 21 are included for U.S. Green Card status
|Average time to obtain Canadian PR is 18-24 months
||Average time to obtain a U.S. Green Card is 18-24 months
|Permanent Residents of must live in Canada for 2 years for every 5-year period
||U.S. Green Card holders must live in the country 180 days per year*
|Permanent Residents can travel visa-free or visa-on-arrival to 172 countries, including
the UK and Schengen Region
|U.S. Green Card holders can travel visa-free or visa-on-arrival to 174 countries, including
the Schengen Region
|Permanent Residents can apply for citizenship after 4 years within 6 years of stay in Canada
||U.S. Green Card holders can apply for citizenship after 2.5 years within 5 years of stay in the U.S.
|Permanent Residents can sponsor other family members (parents, grandparents, etc.)
||Permanent Residents can sponsor other family members (parents, grandparents, etc.)
|Spouses can legally work in Canada
(no permits or authorization is required)
|Spouses can legally work in the U.S.
(no permits or authorization is required)
outside of the U.S. for more than one year without obtaining a re-entry permit or returning resident visa.
Investment Information for the QIIP and U.S. EB-5 Program
The Quebec Immigrant Investor Program (QIIP) and U.S. EB-5 Immigrant Investor Program both require applicants to have a minimum net worth and make a minimum investment amount into the country’s economy to qualify.
For the QIIP, applicants must have a legally-obtained minimum net worth of CAD $1.6 million and contribute CAD $800,000 to Investment Québec (IQ) for a period of five years, at the end of which the capital is returned with 0% interest. Or, applicants can finance the CAD $800,000 investment to Investment Québec (IQ) through selected banks, which normally require a down payment from the financial institutions loaning the applicant the balance. With this option, fees and interest from the down payment are taken from the brokerage firms and banks; the down payment is the cost to the applicant and is not refunded after five years.
Applicants to the U.S. EB-5 Immigrant Investor Program must have a legally-acquired minimum net worth of at least USD $1 million and invest a minimum of USD $500,000 into the economy. However, applicants can choose between investing USD $1 million into a U.S. commercial enterprise that either creates a new business or expands an existing one in addition to creating or preserving 10 full-time jobs for American workers. With this option, the individual must be involved in the business as (but not limited to) a sole proprietor, partner, as a holding company, joint venture, corporation, or a business trust. Or, applicants can invest USD $500,000 in a Regional Center located in a rural or high unemployment area, whereby the investment creates 10 full-time jobs for American workers at the location of the project. Unlike the previous investment option, applicants are not required to be directly involved with the Regional Center.
As you can see, there are differences as well as similarities between obtaining Canadian Permanent Residency (PR) and a U.S. Green Card. However, it’s important for those seeking immigration solutions to Canada or the U.S. do their research on the country of interest. One of the best ways to get a better idea of which program suits you and your family’s circumstances is to discuss immigration planning with a qualified immigration lawyer or immigration consultant. With the appropriate understanding and tools, you can simplify this process. Often times, it comes down to which place offers the best services to make the process less overwhelming. Contact our office today and we will be happy to answer any questions or begin the necessary steps towards a brighter future in Canada or the United States.
We would encourage you to first make a decision which location seems most appealing to you as far as what the culture has to propose—only you can decide this.
For more information on the Quebec Immigrant Investor Program (QIIP), please click here
For more information on Canadian immigration programs, please click here
For more information on the U.S. EB-5 Immigrant Investor Program, please click here
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Permanent Residency through Investment in the USA (EB-5)
Permanent Residency through Investment in Canada