NEWS UPDATE: February 11, 2014 - The Federal Budget proposes to permanently cancel the federal Immigration Investor Program. A moratorium on immigrant applications under the program has been in place since June 2012.
The Government intends to introduce a new immigrant investor venture capital fund pilot project, which will require immigrants to make significant investment in the Canadian economy.
For more information, please visit the Citizenship and Immigration Canada Website. Citizenship and Immigration Canada Website
Canada Federal Immigrant Investor Program (IIP)
The Federal Immigrant Investor Program was established to encourage successful and experienced business individuals to immigrate to Canada with the goal of developing a strong and prosperous Canadian economy.
Under Canada's Federal Immigrant Investor program, investors and their families can apply for permanent residence in Canada by making a five–year investment totalling $800,000 CDN (the “Investment”) in the Canadian economy. (Previously the investment amount was $400,000). The program is guaranteed by the Canadian government to ensure that the Investment is repaid in full without interest (0%) approximately five years and two months after the Investment.
IIP Eligibility Requirements (moratorium for new cases in effect)
Canada’s Immigrant Investor Program offers several benefits to international investors, including permanent resident status up front and guaranteed repayment of the Investment.
To be considered eligible under the revised IIP, you must:
- be a foreign national with demonstrated business experience;
- have a legally obtained net worth of at least $1.6 million CDN (previously $800,000);
- submit an application for the Immigrant Investor Program at the nearest overseas Canadian visa office;
- meet all immigration selection criteria;
- express a desire or intent to settle in a Canadian province or territory outside of Quebec; and
- invest $800,000 CDN for a period of five years with the Receiver General for Canada.
Please note: RBC does not provide legal advice on immigration matters, nor does it provide legal services for the purpose of preparing or filing investor applications. It is the applicant's responsibility to obtain any such advice and services which may be required. If requested, RBC can introduce the applicant to an independent third party professional entity to provide Canadian immigration and IIP application-related legal advice and services.
IIP Funding/Financing Options
As a requirement of the IIP, the Investment must be deposited with the Canadian government. As the approved financial institution for the IIP, Royal Bank of Canada may be able to provide you with lending facilities to finance the Investment if you choose not to liquidate your existing investments. In addition, we may also be able to assist you if you prefer investing the full amount with your own funds.
RBC Wealth Management serves high-net-worth individuals and niche corporate and institutional clients in select markets around the world. With a network of subsidiaries and branches in key financial centres around the world, RBC Wealth Management provides international financial services for clients residing in more than 150 countries, and can help structure your assets before your move to Canada. Please contact us.
For more information about the IIP, including a listing of forms and government overseas visa offices, please visit the Citizenship and Immigration Canada Website.
Please note: Nothing in this section constitutes immigration advice. The IIP is a Canadian government program and is neither managed, administrated nor influenced by Royal Bank of Canada, or any of its subsidiaries, officers, directors, employees or agents. The Canadian government makes all decisions about the eligibility of individuals in relation to the IIP. Any questions about the IIP, including an individual’s eligibility should be directed to a representative of the Canadian government.
The information contained above is current and correct to the best of RBC’s knowledge but RBC accepts no responsibility for its accuracy.
The content of this web site is provided for the general guidance and benefit of our clients. This web site is for information purposes only and is not intended to provide specific advice.