Canada’s Immigrant Investor Program is designed to attract wealthy individuals who will act as bridges between Canada and their home country, the contribution these investors can make in terms of professional skills and capital are two important factors that make the program a viable option for many investors.
The IIP is a three-tiered system that works like a pyramid each layer operates independently of one another but at the same time, they support each other, if you are interested in immigrating to Canada under the IIP, keep reading to know more about how it operates in detail!
The Base Tier
The base tier of the program is made up of a single-tier application process in which all applicants are chosen at random, the selection criteria for this tier are very limited only a few basic requirements must be met for an investor to qualify for this tier.
- Income criteria – You need to have a net worth of at least $300,000 or $800,000 in assets depending on your immigration scenario.
- Citizenship criteria – You need to be a citizen of a country that has a visa-waiver agreement with Canada.
The Group Stage
Once you become a part of the qiip quebec program, you are grouped with applicants of the same level of wealth, together, you undergo a comprehensive assessment process that includes both written exams and an in-person interview.
During the group stage, you must also make a certain investment into the program this investment could be in the form of shares of the Canadian company of your choice, or in the form of a receivables agreement where you pledge to invest a certain amount in the Canadian economy over a period of 30 years.
The Premium Tier
Once selected, you are moved on to the Premium Tier of the program this is the most selective tier and the requirements for it are stringent.
- Income criteria
- You are required to have an annual income of at least CAD $400,000 during the entire period of your stay in Canada.
- Citizenship criteria – You should be a citizen of a country that has a visa-waiver agreement with Canada.
- Residence criteria
- You should intend to reside in one of the participating provinces.
The Eligibility Requirements for the Premium Tier
There are a few important criteria you need to fulfill if you want to be eligible for the Premium Tier, let’s take a look at these criteria in detail.
- You need to be at least 18 years old on the date of application.
- You must be able to demonstrate a sufficient financial investment in the program.
- You cannot be receiving any kind of public pension or retirement benefits.
- You must be of sound mind and of legal age.
- You must be proficient in English or French.
- You must not have committed any crimes in the past.
- You must not be a politically-exposed person.
- You must not have used any third-party services to apply for the program.
- Your country of citizenship must be above the threshold for visa-waiver.
- You must be able to prove that you can support yourself financially in Canada.
- You must have a plan for your migration.
- You should not have a pending deportation order or a removal order.
- You should have enough money to take care of your migration expenses.
- You must meet the health and security requirements of Immigration, Refugees, and Citizenship Canada.
- You must have a clean Canadian Criminal Record.
- You must have a valid passport and enough funds for your trip.
