The State of Investor Immigration in Canada

THE STATE OF INVESTOR IMMIGRATION IN CANADA

The State of Investor Immigration in Canada

The State of Investor Immigration in Canada

The State of Investor Immigration in Canada

Canada has always been a country which values the hard work and talents of entrepreneurs and businesspeople. These days, the Canadian economy is thriving, unemployment is at a historic low, and Canada is becoming a leader in global innovation across many different sectors. Canada’s economic success is not simply due to the work of Canadian citizens, but also due to immigrants, many of whom come to the country as investors and entrepreneurs, ready to lend their financial skills to the Canadian economy.

INVESTOR IMMIGRATION

Immigrants are one of the driving forces behind new economic development in Canada. One of the most important ways in which new immigrants contribute to the economy is through investor immigration programs. These programs allow wealthy individuals from foreign countries to immigrate to Canada through the promise of significant investment in the Canadian economy.

Some investor programs are also tied to business management, so new immigrants invest in purchasing a Canadian business and commit to the management of this business as well.

For nearly two decades, Canada accepted a high volume of immigrant investors who were able to essentially purchase their permanent resident status in Canada if they had the finances to do so. This program, called the Immigrant Investor Program (IIP), was shut down in 2014 after the government determined the program to have little economic benefit to the country.

Presently, Canada accepts between 5,000 and 7,000 new immigrants through business immigration pathways. The vast majority of these immigrants, about 80%, come through business immigration programs offered by the province of Quebec. While the federal investor program was shut down in 2014, Quebec has maintained an immigrant investor program.

It is unclear what lies in the future for immigrant investors in Canada. The country attempted to revamp investor immigration by introducing the Immigrant Investor Venture Capital Pilot Program (IIVC) in 2014. This program required candidates to have a net worth of at least $10 million CAD and to invest $2 million without any guarantee of return. With the high requirements, the program attracted only 7 applications in its pilot year. While the federal immigration authorities haven’t yet found an investor immigration program which works, many Canadian provinces have picked up the slack.

QUEBEC INVESTOR PROGRAM

The Quebec Investor Program (QIP) is one of the best options for those wishing to immigrate to Canada through financial investment. In order to qualify for this program, a person must have a personal net worth of at least $2 million CAD and must be willing to invest at least $1.2 million CAD as part of the immigration process. If a person meets these requirements, Quebec might be the ideal pathway to becoming a Canadian permanent resident.

The QIP only allows applications during designated intake periods. Quebec announced earlier this year that the program would not be accepting any applications until at least August 15th, 2018. While it is still not known if a new intake period will be announced in August, the program is expected to have a new intake at some point in the future.

OTHER BUSINESS IMMIGRATION PATHWAYS

New in the landscape of Canadian immigration is the Federal Startup Visa program. This program is for innovative entrepreneurs who have the skills needed to grow businesses in Canada. The Startup Visa application requires candidates to demonstrate their business management experience and to show that they have acquired a significant investment for the project from an organization designated by the Canadian government.

Canada also offers a range of entrepreneurial immigration programs. These programs require applicants to have a significant personal net worth, along with business management experience. Usually, applicants must submit a business plan and commit to the operation of a specific business for a predetermined length of time. Most of these entrepreneurial programs are offered provincially through Provincial Nominee Programs (PNPs).

THE FUTURE OF INVESTOR IMMIGRATION IN CANADA

Canada clearly values the contributions made by immigrant investors and entrepreneurs. While the country may have difficulty establishing a strong federal investor immigration program, there remain many immigration pathways available for those with the right financial background and business experience.

The “citizenship by pay” model of the terminated federal Immigrant Investor Program (IIP) is not a way forward, but the options available through Quebec and many PNPs demonstrate that the country maintains a commitment to helping investors and businesspeople establish new lives in Canada.

Posted in Alberta, Atlantic Canada, British Columbia, Business / Investor Visa, Canada, Canada Open Work Permit, Canada PNP, Express Entry, Immigration, Manitoba, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan, Tourist Visa, Visa and Immigration | Tagged , , , , , , , , , , , , | Leave a comment

Quebec Immigration – Skilled Worker Points Calculator 2018

Quebec Immigration – Skilled Worker Points Calculator 2018

Quebec Immigration – Skilled Worker Points Calculator 2018

Quebec Immigration – Skilled Worker Points Calculator 2018

Calculate your Quebec Skilled Worker passing score below.

Quebec’s incoming Expression of Interest system will manage immigration to Quebec through its Quebec Skilled Worker Program.

According to the Government of Quebec, immigration candidates who are 18 years of age or older will be able to submit a profile into the new Expression of Interest system.

The Government of Quebec will issue invitations to apply for a Quebec Selection Certificate to certain candidates.

While the Government of Quebec has not yet specified the exact criteria that will be used to rank or invite eligible candidates, it has announced how points will be assigned for purposes of obtaining the required passing scores under the Quebec Skilled Worker points assessment grid.

The Quebec Immigration – Skilled Worker Points Calculator below can be used to help Quebec Skilled Worker Program candidates to determine if they meet the passing score.

Please note that this calculator is for information purposes only.

This BETA version of the Quebec Immigration – Skilled Worker Points Calculator 2018 is still undergoing improvements and updates. The scores generated are unofficial. Please contact us by email if you believe there was any error in the calculation of your score.

Disclaimer

Canadavisa.com makes every effort to ensure the quality of the information available in this Quebec Immigration – Skilled Worker Points Calculator 2018 (the Calculator). However, before relying on information contained in the Calculator, users should carefully evaluate its accuracy, completeness and relevance to their particular purpose. The information contained within the Calculator is provided for information purposes only and does not assess eligibility for the Quebec Skilled Worker Program. Nothing contained in the Calculator is to be used as professional advice and the Calculator is not a substitute for the advice of a lawyer. Users should contact a qualified Canadian immigration lawyer and get appropriate professional advice relevant to their particular circumstances before any action or decision is taken on the basis of any of the material provided on the Calculator. Canadavisa.com does not accept any liability for any loss or damage incurred by use of or reliance on the Calculator or the information contained therein and cannot guarantee and assumes no legal liability or responsibility for the accuracy or completeness of the information.

About the Quebec Skilled Worker passing score:

A Quebec Skilled Worker Program candidate’s passing score is based on the Quebec Skilled Worker Program points grid, which assigns a maximum of 120 points based on nine factors:

  1. Education and training
  2. Skilled work experience
  3. Age
  4. Proficiency in French or English
  5. Stay and Family in Quebec
  6. Spouse/common-law partner characteristics
  7. Valid job offer
  8. Accompanying children
  9. Financial self-sufficiency

Candidate profiles that meet education and financial self-sufficiency points requirements are then screened according to Employability and Selection factors.

Profiles must meet the cut-off score of 43 points (or 52 points if accompanied by a spouse or common-law partner) under the specified Employability factors.

Profiles that meet the cut-off score requirement are then screened according to a series of Selection factors. A minimum passing score of 50 (59 if accompanied by a spouse or common-law partner) is required under the Selection factors in order to be considered for an invitation to apply for a Quebec Selection Certificate

Posted in Canada, Canada PNP, Express Entry, Immigration, Quebec, Visa and Immigration, Work Abroad | Tagged , , , , , , , , , , , | Leave a comment

Tourism industry calls for improvements in immigration performance

Tourism industry calls for improvements in immigration performance

Tourism industry calls for improvements in immigration performance

Tourism industry calls for improvements in immigration performance

Major improvements are needed in Immigration New Zealand’s fiscal and operational management to avoid future cost blow-outs, Tourism Industry Aotearoa says.

INZ is proposing to increase immigration fees and levies by as much as 54%, as it seeks to recover a deficit of $50 million.

In its submission on the proposed increases, TIA says it is disappointing that efforts to improve INZ’s efficiency and find cost-savings have not yet materialised.

“We want to see INZ adopt more robust fiscal and planning management practices to avoid any repeat of its forecast $50 million deficit. It appears that international workers and visitors are being asked to pay for the agency’s inability to make efficiency gains,” TIA Chief Executive Chris Roberts says.

“This comes at the same time as the Government is proposing to introduce the Electronic Travel Authority which will create a new level of border security and should create efficiencies for INZ.”

Insufficient research has been undertaken to assess whether the fee increases would influence skilled migrants’ decisions to work in New Zealand. Although most of the proposed increases were not large in dollar terms, international evidence suggested that any increase could impact on the ability to fill skill shortages.

TIA accepts the principal of cost recovery for processing visas, but is strongly opposed to increasing the Border Clearance Levy to include INZ’s border services. The BCL is currently used to fund Customs and Ministry for Primary Industries activities at the border. The consultation paper says adding immigration is an option to be considered.

Having a secure border is a public good which should be funded, at least partially, from general taxation revenue. As the consultation document itself notes, ‘The Crown also contributes to the cost of running the immigration system, recognising that there are public benefits to New Zealanders from a secure border and a well-functioning labour market’.

“There should be no change to this approach,” Mr. Roberts says. “The current combination of immigration levies and a direct Crown contribution must continue.”

More investigation is needed by INZ, Customs and the Ministry for Primary Industries to identify where cost-savings can be achieved in border services.

Posted in Business / Investor Visa, Dependent Visa, Immigration, New Zealand, Tourist Visa, Visa and Immigration | Tagged , , , , , , , | Leave a comment