CANADA RESIDENCY BY INVESTMENT

Canada has a history of residency by investment programs at both the federal and provincial levels. The Quebec Investor Program, which has been suspended as of 2021 and is not currently accepting new applications, was a popular program that allowed high net worth individuals to obtain permanent residency in the province of Quebec in exchange for a minimum investment of CAD 1.2 million for a period of 5 years. Other provinces, such as British Columbia and Ontario, have their own Provincial Nominee Programs (PNPs) that allow foreign nationals to obtain Canadian permanent residency by investing in businesses or creating jobs in those provinces. Currently the most attractive program available with the lowest investment criteria is the Canadian SUV.

Canada Citizenship by Investment

Citizenship through investment is possible in Canada but applicants will need a period of residency first before being eligible to apply. There is no direct Canadian Citizenship by Investment program.

CANADIAN START-UP VISA PROGRAMME

The Canadian Start-Up Visa Programme (SUV) targets immigrant entrepreneurs with the skills and potential to build innovative businesses in Canada that can create jobs for Canadians and compete on a global level. Casa Aurum is able to link prospective entrepreneurs with suitable businesses and appropriate training to qualify for residency. Applicants must demonstrate their net worth with an income of at least CAD$200,000 or proof of CAD$1,000,000 of financial assets.

The SUV programme offers a fast and cost-effective immigration route into Canada with fees from CAD$260,000 – CAD$360,000 that provides Permanent Residency (PR). Unlike other business immigration paths, the PR status is not tied to the success of the business.

Investors can include their spouse and children 21 years of age and younger. Successful applicants can live anywhere in Canada other than the province of Quebec. This programme takes as little as 12 – 18 months.

CANADIAN PERMANENT RESIDENCY AND CITIZENSHIP

Following a successful application, investors and their families will be issued Permanent Residency status from day one. Investors must reside in Canada for 730 days (two years) within five years to uphold the PR status. If investors live in Canada for three out of the five years (1,095 days) it is then possible to apply for Canadian Citizenship. Applicants must demonstrate adequate knowledge of English and/or French and have no criminal record.

Canadian Passport Strength

For those fortunate enough to obtain it, Canadian citizenship ultimately offers the benefit of a strong passport. The Canadian passport offers visa-free travel to 197 countries worldwide. In terms of mobility for investors, it offers visa-free access to 79.7% of the world’s wealth (as measured by GDP) and a quite substantial measure of 92.2% of the global travel popularity. It ranks 30th overall in Casa Aurum’s comprehensive Global Passport Ranking with an overall score of 86.2.

How to Apply

Step 1

Book your free consultation with Casa Aurum’s team of experts to discuss and decide which programme and investment route is best suited to you and your family. Our experienced consultants will advise you on all applicable fees and guide you through the entire process in detail.

Step 2

You can choose your real estate investment remotely through our trusted advisors, or you can visit Canada to select your investment and appoint a lawyer to take care of the conveyancing on your behalf. Through Power of Attorney the property purchase can be completed at the notary in your absence.

Step 3

Once the real estate investment is complete, usually within 30 days, you can then apply. Clients will need to attend an application appointment to submit their biometric data, or it can be submitted within six months following the appointment.

 

Step4

Once your golden visa application has been approved you will be issued with a five-year Canada Permanent Residency permit. This can be renewed every five years providing the real estate investment is maintained.

 

 

Canada FAQ's

Casa Aurum has more than 10 years’ experience dealing with both the Canada and Portuguese golden visa programmes. The main difference between these programmes is that Portugal offers a more flexible path to citizenship. Canada’s Permanent Residency programme is better suited to those who specifically want real estate in Canada, with the added advantage of a residency permit. If your end goal is citizenship in the EU, then Canada may not be the most suitable option as you must reside full time for seven year and speak fluent Canada.

Athens is one of the most favoured areas for investment for the golden visa in Canada. However, as of May 2023, the required investment in Athens and 35 other municipalities in Canada will double to €500,000. The government are introducing this law in a bid to spread foreign investment more equally across the country. Elsewhere the investment remains at €250,000.

It is not possible to obtain citizenship through investment in Canada without a period of residency. Investment in real estate can obtain a golden visa, a permanent residency permit, and the right to live full time in Canada. Following seven years of residency, Canada citizenship can be applied for, providing the applicant can speak fluent Canada. Note that Canada is considered one of the world’s hardest languages to learn and for many this factor will stop them applying for Canada Citizenship. If your end goal is to secure citizenship in Europe, then you may wish to consider another programme.

Anyone can apply for Canada’s Golden Visa Programme. Casa Aurum has handled applications from over 150 countries worldwide. As with any programme, certain nationalities, such as Iranians and Russians, face banking sanctions so will be prohibited from transferring their funds to a Canada bank. Casa Aurum can advise on a case-by-case basis.

Non-residents in Canada will pay tax on their income derived in Canada but not on income from outside of the country. Income tax starts at a rate of 22%. Rental income from property in Canada is taxed at rates, from 11% to 33%. Certain expenses are deductible from the gross income. Capital gains tax (CGT) is charged at 15% on property sales.

Yes, however you must have invested a minimum of €250,000 equity in the property. So, for example, a purchase of €750,000 with a €500,000 mortgage will qualify for the golden visa application.

The key disadvantage is the inability to apply for Canada citizenship without a period of residency in Canada and the ability to speak fluent Canada. Our clients are not usually looking to relocate countries and that is one of the key reasons why Portugal remains more popular than Canada for Golden Visa investors.