Canada’s Immigrant Investor Program (IIP) is an ideal avenue for those individuals who are interested in residing in Canada, but not necessarily intending to carry out any business activity upon their arrival.

1.    Business Experience

Applicants for the IIP who pass the   points-based assessment   must also demonstrate an ability to use their business or management experience to become economically established in Canada.

The applicant must demonstrate their successful business experience by showing that,
in the period beginning 5 years before the application, they:
     • Managed a qualifying business, and controlled or directed a percentage of a said
         business, for a period of at least 2 years; OR
      • Managed a business, or portion thereof, with at least 5 full-time employees per
         year, for a period of at least 2 years

A ‘qualifying business’ refers to a business for which there is evidence, for the year being considered, of any two of the following:
     • the percentage of equity multiplied by the number of full-time job equivalents is
         equal to or greater than two full-time job equivalents per year;
      • the percentage of equity multiplied by the total annual sales is equal to or
         greater than $500,000;
      • the percentage of equity multiplied by the net income in the year is
         equal to or greater than $50,000; and
      • the percentage of equity multiplied by the net assets at the end of the year is
          equal to or greater than $125,000;

2.    Sufficient Net Worth

An applicant to the IIP must also provide evidence of a legally obtained net worth of at least $800,000 CDN.

3.    Financial Investment

An Investor Class applicant must also commit to an investment of $400,000 CDN that will be used for economic development and job creation. The full amount of the investment, without interest, is repaid to the investor after a period of approximately 5 years. Investors can borrow up to $270,000 to satisfy the $400,000 CDN investment requirement.

4.    Medical and Security Clearances

All applicants for immigration, and their dependent family members, must undergo a medical examination to ensure that they are not likely to be a danger to public health or safety, or cause excessive demands on the Canadian healthcare or social services systems.

Any applicants and their dependents over the age of 18 must also be able to demonstrate that they have no previous criminal convictions.

For more information about the requirements for qualifying for the Investor Immigration Program, please see the   Citizen and Immigration Canada   website.

•   Law Offices of Michael Loebach    •   info@mloebachlaw.com    •   London, Ontario, Canada   •