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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 applicants received:

The Investor Program will receive 1900 between September 10, 2018 and August 31, 2019

The Entrepreneur Program will receive 60 applicants (25 for Stream 1, 35 for Stream 2) between August 15, 2018 to October 31, 2019.


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 CAD800,000 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 CAD800,000 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 for three years that are fully or partially within the five years right before the date you apply. And you must 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 CAD1,600,000 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 a federal parliamentary monarchy. Its territory is organized into 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 by size 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 approximately 2.5 million and 1.5 million people each, 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
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Taxes

There are several factors 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.

Federal Income tax is progressive ranging from 15% to 33%.

Each territory or province levies its own income tax. Both taxes combined create effective tax rates ranging from 48% in Saskatchewan and Yukon, to 54% in Nova Scotia.

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 that 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%.

British Columbia, Manitoba, and Saskatchewan each levy retail sales tax at 7%, 8%, and 5%, respectively.

New Brunswick, Newfoundland and Labrador, Nova Scotia , Ontario, Prince Edward Island have a fully harmonized sales tax that includes the GST. The tax rate is 15%, except in Ontario where it is 13%.

Quebec’s sales tax is 9.975%, resulting in an effective tax rate of 14.975%.

Neither Alberta, Northwest Territories, Nunavut and Yukon levy a retail sales tax. However, the GST is applicable in those jurisdictions.

Regarding corporate taxation, resident entities are subject to federal and provincial taxes on their worldwide income. The federal tax standard rate is 15%, whereas provincial tax rates range from 11% to 15%. 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 that 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.

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