Global Citizenship
Pathway to Canadian Citizenship anada is a melting pot of investors due to its diverse range of industries from aerospace and renewable energy to bio-pharmaceuticals. It’s well established immigrant investor program, which allows wealthy foreigners to gain permanent residency and eventually citizenship in return for investing in government bonds adds to the allure. However for more than a year, Canada’s immigrant investor program has been closed because the cap set by the federal government on the number
46 GC July / August 2013
of visa applications was reached. Yet since the demand for permanent residency and citizenship in Canada remained at an all time high amongst foreign high net worth investors, the Quebec government decided to reopen their immigrant investor program on August 1st with a limited number of 1,750 applications. “As long as applicants to the Immigrant investor program show intent to settle in Quebec initially they are then free to live anywhere in Canada and are eventually eligible to apply for Canadian citizenship,” explained Armand Arton,
partner of Arton Investments, the only government approved financial intermediary with a presence in the Middle East. However, to be accepted, all applicants must be able to demonstrate the source of their funds and prove that they legally acquired a net worth of CAD $1.6 million, either individually or with a spouse. When accepted, the applicant will have to invest CAD $800,000 through a government-approved financial institution into government bonds for a period of five years at a zero rate of return.
Image courtesy of Corbis
Quebec reopens its popular Immigrant Investor Program to a limited number of applicants