To qualify for the program, candidates must meet the following requirements:
Have worldwide net assets of at least $800,000 CAD accumulated through their own endeavours; Have successfully operated, controlled or directed a business; Undertake to make a passive investment of $400,000 CAD for a five-year term (or limit your down payment through the Desjardins Golden Plan).
[…]
The mandatory $400,000 CAD deposit is invested in a term note guaranteed by the Government of Qu�bec. A significant portion of the interest earned on the investment is paid out to eligible Qu�bec corporations in the form of grants. In this way, investors contribute to the economic development of society and to job creation.
[…]
If you do not wish to liquidate your assets to come up with the $400,000 CAD mandatory deposit, the Desjardins Golden Plan is the ideal financing plan for you. Thanks to the plan, you can:Limit your down payment to as little as $120,000 CAD and still meet all the requirements of the Immigrant Investor Program in order to obtain Canadian citizenship;.
People with that kind of money leave Canada (to escape the taxes)… they don’t move here. I guess unless they’re desperate to escape an even more oppressive government than ours. btw, the interest on $400,000 invested conservatively for 5 years is over $100,000 (assuming 5% compounded annually)… so basically they’re paying over $100,000 to live here for the privilege of paying 43+% in taxes (which, assuming they continue to accumalate 6 figures, is $43,000 to $430,000 in taxes). Canada sucks… I’d leave but I don’t know where to go (yet).
In a less enlightened age than ours, they used to call it a head tax.
Get yer Canadian passports here, get yer passports
Special Quebec deal gets you a Canadian passport . . .
It only costs 250 grand to get an instant business green card in the US . Why would anybody want go to the frozen banana republic?
I’m an immigration consultant and former foreign service officer in the immigration stream. What you have posted is correct, however investor applicants do not get citizenship. They get permanent resident status: the right for themselves and their families to live in Canada as permanent legal residents. They can only get citizenship and a Canadian passport after meeting the residency requirements (living in Canada for a total of at least 3 out of the 4 years before applying) and passing the citizenship exam.
I know that for some this may not be a big deal, but I happen to think that Canadian citizenship is still worth something and am relieved that we have not (yet) begun selling passports.
Chris, that is kind of picking nits… permanent resident status is the holy grail for millions around the world, especially here where they can then have a better chance to get into the country they REALLY want to be in.
Either way, it’s still buying your way in… but you know that and were correcting terminology.
Chris – read the final quote from the site again.
“Limit your down payment to as little as $120,000 CAD and still meet all the requirements of the Immigrant Investor Program in order to obtain Canadian citizenship;”
Chris
If Canadian Citizenship truly meant something we wouldn�t be granting citizenship to every individual who just happens to have been smart enough to figure out all the current and/or future benefits they or their family members are eligible to receive for merely living here for 3 years. Especially if their plans all along included returning to their home country or using it to gain entry to another one. Let�s face it, the criteria for becoming a Canadian citizen is pretty lax when you compare it to that established by other countries.
Well at least they are better than the family class.
There is some possibility that they will give some of our over 1,000,000 unemployed a job instead of taking from them.
Which begs the question do you want a bunch of people moving here who are better off than you?
Not that you’ll get to vote on it like you would in a democracy….
Just A Test
Test Test