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 $200,000CAD 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 $400,000CAD, 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 $350,000CAD;
The applicant must be willing to invest at least $150,000CAD 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 $75,000CAD, which will be returned after two years if the applicant fulfills the requirements of the Deposit Agreement.
Upon approval of applications, foreign investors are granted Canadian Permanent Residency status. Permanent residents are offered an abundance of opportunities and benefits in Canada. Permanent residents have access to most of the social welfare programs in Canada, including free health care. Canadian Permanent Residents, with minor exceptions, can also live and work anywhere in Canada. Permanent Residents can also apply for full Canadian Citizenship after living in Canada for three out of four years.
Another great element about the Business Programs is that Permanent Residency is not merely given to the principal applicant. A qualifying spouse and dependent children are also given full Permanent Residency. This means that the applicant’s spouse and their dependent children have the ability to work and study in Canada.
Permanent Residents also have the ability to sponsor eligible family members. This provides immigrants with options to sponsor their aging parents and grandparents. And if these family members are approved, they are also granted Permanent Residency Status.
There are many benefits in hiring a representative for business visa applications. The amount of documents and forms required for the program can be staggering. Hiring a representative means transferring all the obligations to a skilled professional, expert in handing these applications.
An attorney also helps make the immigration process as fast as possible. Many people, who choose to file an application without a representative, find they leave out important details on the application. Any error, including simply missing one date on an application, will often result in the entire application being returned.
A word of caution when hiring a paid representative, Canada restricts who can represent applicants in Canadian immigration matters. The restrictions are in place because there have been many instances of fraud, where people posing as trained professionals have taken client’s money and performed no service or inadequate service. Therefore, when choosing a representative make sure you retain one of the following: a licensed Canadian attorney, a consultant in good standing with the Canadian Society of Immigration Consultants, or a notary in good standing with the Chambre des notaires du Québec.
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We look forward to answering any of your questions. You are invited to call our office or e-mail Mr. Silver Directly for his personal response to your immigration question.
Please contact the office for Free Consultation:
Darren Silver and Associates
Address: 3699 Wilshire Boulevard Suite 600, Los Angeles, CA 90010
Telephone: 1-800-971-7013 or 213-384-1900.
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This article is not intended to provide legal advice, but to provide general information.
(Advertising Supplement)
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