passports.io website
residencies.io website
Bank Accounts website
Flag Theory website

Canada

Quebec Business People

Under the Business People Program, foreign-nationals, together with their dependents, may obtain a permanent residence permit if they make an investment in the State. There are three streams, the Entrepreneur stream, the Self-employed workers stream and the Investor stream. There are a maximum number of applications received and currently (until March 2018) no applications will be received for the Entrepreneur and Self-employed worker streams.

investment


Investor Program

To be eligible for the Investor Program and obtain a permanent residency permit, you must intend to settle in Québec and sign an agreement to invest CAD 800,000 with a financial intermediary (broker or trust company) authorized to participate in the Program.

The investment of CAD 800,000 must be for a five-year term, and will be guaranteed by the Gouvernement du Québec.
At the end of the five-year term, the broker or trust company will, within 30 days, reimburse you CAD 800,000 without interest. However, the amount may vary if you secured financing for the investment.

To keep your permanent residency status, you must physically be in Canada at least 730 days (2 years) in a five-year period. Failure of your business will not affect your permanent resident status.

After 5 years holding the permanent residency status, you will be eligible to apply for citizenship, provided that you have lived 1,095 days in Canada within the five years, and 183 days during each of three calendar years that are fully or partially within the six years right before the date you apply.

To apply for citizenship, you must also have met your personal income tax filing obligations in four three years that are fully or partially within the five years right before the date you apply. And take a language (French or English) test and pass an exam regarding Canadian values, history, symbols, institutions, rights, responsibilities and privileges of citizenship.

Requirements


- Have, alone or with your spouse, net assets of at least CAD 1,600,000 obtained legally.
- Have experience in management in a legal farming, commercial or industrial business, or in a legal professional business where the staff, excluding you, occupies at least the equivalent of two full-time jobs, or for an international agency or a government or one of its departments or agencies.

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is recognized in Canada. You are not required to renounce your previous nationality to become a citizen of Canada.


Documents Required


  • Certified copy of passport
  • Evidence of language skills
  • Letter of support of designated entity
  • Original or Certified copy of Birth Certificate (if applicable)
  • Original or Certified copy of Marriage Certificate (if applicable)
  • Certified copy of ID Card
  • Evidence of Residential Address
  • Affidavit of support for Dependents
  • Original Police Clearance Certificate
  • Two passport-size photos
  • Bank Statement
  • Original Bank Reference Letter (Not older than 6 month)
  • Proof of net wealth
  • Statement of Source of Funds
  • Evidence of Business Background
  • Curriculum Vitae
  • Professional and academic certificates
  • Medical Certificate
  • Investment agreement
  • dual citizenship Yes
  • Family members included Yes
  • land ownership Yes
  • Physical residence required Yes
  • Personal visit required Yes
  • Language skills required Yes
  • Interview required No
  • Investment Single C$800,000
  • Investment Family 4 C$800,000
  • Minimum annual income -
  • Time to citizenship 60
  • Time to permanent residency
  • Visa-free countries 171
  • Financing available No

Fees

processing fees main applicant C$1,050
certificate issuance fee C$490 (PR Fee) C$50 (PR Card)
total fees main applicant C$1,590
processing fees spouse C$550
certificate issuance fee C$490 (PR Fee) C$50 (PR Card)
total fees spouse C$1,090
processing fees dependents -18 $150
certificate issuance fee C$490 (PR Fee) C$50 (PR Card)
total fees dependent -18 C$200
processing fees dependents 18-25 -
certificate issuance fee C$490 (PR Fee) C$50 (PR Card)
total fees dependent 18-25 -
due diligence fees dependents +65 -
processing fees dependents +65 -
certificate issuance fee C$490 (PR Fee) C$50 (PR Card)
total fees dependent +65 -

Country details

Canada
CAD
1
Ottawa
North America
English French
33679000
Canada is a sovereign country of North America, whose form of government is the federal parliamentary monarchy. Its territory is organized in ten provinces and three territories. It shares borders with the United States to the south, and to the northwest with its federal state Alaska. It is the second largest country in the world after Russia. About 36 million people live in Canada. English and French are its official languages. Its capital is Ottawa, but its most populated cities are Toronto and Montreal, with 2 and a half and 1 and a half million, respectively. Its official currency is the Canadian Dollar (CAD).

Visa Free Travel

With your new passport from Canada you'll be able to access 171 countries visa free
>

Taxes

There are several facts that determine an individual’s tax residency in Canada such as having a permanent domicile in the country or having business or social ties to the country. In any case, an individual who spends 183 days or more per year in the country may be considered a tax resident.
Tax residents are subject to federal income tax and provincial/territorial income taxes on their worldwide income. Non-residents are taxed on their income and capital gains derived from Canada.

Quebec has its own personal tax system. Federal Income tax is progressive ranging from 15% to 33% on income exceeding CAD 200,000. In Quebec, there is a federal tax abatement of 16.5%. Territorial tax in Quebec is progressive up to a top marginal rate of 25.75 on income exceeding CAD 103,150.

Fifty per cent of capital gains are included in taxable income and taxed at applicable tax rates. Non-eligible and eligible dividends from Canadian corporations are grossed up by 17% and 38%, respectively. Eligible dividends are those from Canadian public corporations or those from entities which are not controlled private corporations. Interest and rental income are treated as ordinary income.

Municipalities levy property taxes and land transfer taxes. There is no inheritance tax, however, an individual who dies is deemed to have disposed of any capital property immediately before death. This can result in any accrued capital gains being subject to income tax, and all provinces and territories impose probate fees or administrative charges for probating a will. There is no tax on net wealth in Canada.

The federal goods and services tax (GST) applies on most goods and services and is levied at a rate of 5%. Quebec’ sales tax is 9.975%, resulting in an effective tax rate of 14.975%.

Regarding corporate taxation, resident entities are subject to federal and provincial taxes on their worldwide income. Federal tax standard rate is 15%, whereas territorial tax in Quebec is levied at a 11.9% rate. To know more about Canadian corporate taxation, legal framework and tax treaties visit incorporations.io/canada.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.

  • Property tax Yes
  • Transfer tax Yes
  • Inheritance tax Yes
  • Net worth tax No
  • CFC law Yes
  • Tax residency days 183
  • Personal income tax rate 53.7%
  • Capital Gains tax rate 26.7%
  • Investment income tax rate 53.7%
  • Territorial taxation No

Procedures

Flag Theory | Passports.IO and our qualified attorney in Quebec, Canada, will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain free as possible.


First, our lawyers will conduct a due diligence check on you to ensure that you are eligible and meet the criteria to apply for the program and your application will be approved.

We will provide you financial intermediary options to make your investment. Once you have signed the investment agreement, we will send you the application forms and provide assistance to complete the questionnaires, translate and authenticate documents.

Once the Government of Quebec approves your application. We will submit the permanent residency application to the Government of Canada, which will issue your permanent residency card.

For further information on the Quebec Business People Program and detailed procedures, contact us for a free private consultation.

Any time there is a change or new citizenship or residency by investment program, we'll send you an update via email. Your email will not be shared.