Asian Journal- The Filipino-American Community Newspaper

IMMIGRATING to a new country is getting harder, three of the most popular immigration destinations have recently made it more difficult to apply. Canada, Australia, and England are slowly nudging their doors shut to new immigrants.

Luckily, for those immigrants that have business experience and funds to invest there are still options. In Canada there are two popular Provincial Programs, one in British Columbia and the other in Manitoba. Both programs require the potential immigrant to invest in businesses within the respective provinces. In return for this investment, the immigrant is awarded permanent residency in Canada.

Investing in a Canadian business is actually a pretty good deal in itself. Canada currently leads the G-7 countries, bragging a strong financial system, low debt, and relatively low unemployment rates. Chief economist at CIBC, one of Canada’s largest Banks, Avery Shenfeld, notes "Canada’s rich resources, resilient financial system and favorable demographics relative to other G7 nations make it an economic contender looking out over the next five to ten years."

The time to invest in Canada is now. Shenfeld notes "where economic growth goes, corporate earnings, dividends and other rewards for investors are likely to follow." The Government of Canada is encouraging investment in Canada by offering Permanent Residency to those who are willing to contribute to the Canadian economy.

There are several Business immigration programs in the Province of British Columbia. The least expensive option is the British Columbia Regional Business Program. The basic requirements for the program are the following:

• – Applicants for this program must invest at least $200,000.00CAD to establish or to purchase or expand an eligible business anywhere in British Columbia outside of the Vancouver Metropolitan area and the Abbotsford Metropolitan area.
• – Applicants must also create at least one new job for a Canadian or permanent resident.
• – Applicants must also provide active and on-going participation in the day to day management and direction of the business.
• – Applicants must demonstrate they have the skills and experience to operate a viable business in B.C., have a personal net worth of at least $400,000.00CAD, and have sufficient unencumbered funds to make the required investment.
• – Applicants must sign a performance agreement with the Province of British Columbia.
• – The investment program in Manitoba is called the Manitoba Provincial Nominee Program for Business. This program is also fairly inexpensive. The basic requirements for this program are the following:
• – The applicant must have a net worth of $350,000.00CAD;
• – The applicant must be willing to invest at least $150,000.00CAD into a new or existing business in which the applicant will become an active partner;
• – The applicant must have a minimum of three years of owning or managing a successful business at an executive level;
• – Applicant must make a deposit of $75,000.00CAD, which will be returned after two years if the applicant fulfills the requirements of the Deposit Agreement.