Investment Migration to Canada, the First Residency by Investment

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In the world of Residency by Investment, Canada is a true pioneer. Other countries witnessed the surge of investment migration to Canada and developed programmes modelled on this investment residency. In this article, we will explain more about the history of the original Residency by Investment.

The Canadian Immigrant Investor Program

Before the Canada Start-Up Visa, there was the Canadian Immigrant Investor Program. This was a federal government initiative to encourage foreign direct investment in Canada. On January 1, 1986, Canada announced that they were accepting applications from a new category of business immigrant: the investor.

The programme evolved and investors had to meet the following requirements by its latest incarnation in 2010:

1. Not reside in Quebec where there was a separate provincial programme
2. Prove requisite business experience of having owned and operated a qualifying company or by managing staff numbering a minimum 5 employees
3. Have a net worth of at least C$1,600,000
4. Invest C$800,000 CAD in the Government of Canada, refundable 5 years later minus interest
5. Satisfy health and security stipulations

Investors could bring immediate family members as dependants. Everybody included on the application form would become eligible for permanent residency in Canada. The federal government terminated the programme on June 19, 2014, with the passing of the Economic Action Plan 2014 Act (Bill C-31).

Residency by Investment Spreads Across the World

Inspired by its North American neighbours, the US launched the EB-5 Investor Visa in 1990. The UK brought out its Tier 1 Visa in 1994. This has since been reimagined as the Innovator Founder Visa.

In the 21st century, the concept of the golden visa was born. Starting in Europe, there are now Greek, Portuguese, and Spanish Residencies by Investment. The Greek Golden Visa debuted in 2013, the Portuguese Golden Visa a year earlier, and the Spanish Golden Visa also in 2013.

Elsewhere in the European Union, you can apply for the Malta Permanent Residence Programme. The Caribbean is home to Anguilla Residency by Investment and Cayman Islands Residency by Investment. In the Middle East, the UAE Golden Visa is available.

How to Secure Your Investment Migration to Canada

Your route to Canadian Residency by Investment becomes more straightforward with the help of an expert guide. A consultation with an investment migration specialist such as Latitude Group will set you off on the right path. So, don’t delay and contact us today.