The Government of Canada has created the Immigrant Investor Program (IIP Visa) in order to attract foreign investors and foreign business persons to the Canadian economy. The applicant can earn his Permanent Resident status in Canada.
Here is how it works-The IIP seeks businesspeople to invest $800,000 CAD, which is a passive investment with the Receiver General of Canada and the entire amount, is guaranteed and returned without interest after a period of 5 years.
Individuals who do not wish to use their personal funds for the investment can borrow the funds through one of EEP’s approved partners.
The applicant must make the investment within 30 days of the application being approved. Once the application is approved and the investment is made, the applicant and his family may apply for their permanent resident visas.
The IIP was established to promote economic development and employment in Canada by attracting people with capital, business acumen and/or solid managerial skills. This program is for applicants with qualifying business experience and a net-worth of $1,600,000 CAD.
Although there is a requirement for a net-worth of $1,600,000 CAD, there is no requirement to transfer the funds or assets to Canada aside from the 5-year deposit.
Here are some questions that you need to ask your immigration consultant before applying for the Canadian Immigrant Investor Program.
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