Canadian immigrant investor program cost in 2022

The Canadian Immigrant Investor Program was an initiative of the Canadian federal government started in 1986 to encourage businesspeople and their families to immigrate to Canada, giving qualifying investors the opportunity to become permanent residents. Canada business investment visa is another option for Canadian residency.

Successful candidates received citizenship eligibility after receiving unconditional, permanent residence permits for Canada for themselves and their families. On June 19, 2014, the Economic Action Plan 2014 Act (Bill C-31) was passed, ending the program and canceling any pending applications. Canada’s investment program could be yet another option.

The Canadian Immigrant Investor Program (CIIP) was one of the most well-known immigrant investor programs (IIP) in the world, but since its establishment, its standards had not altered, and it had also come to be one of the most affordable. 

The program was briefly paused until the new standards took effect on June 26, 2010, and the qualification requirements were doubled as of that date. On December 1st, 2010, the newly upgraded program was reopened.

At the time of termination, qualified investors had to meet certain health and security requirements, have a minimum net worth of CAD$1,600,000 (obtained legally), invest CAD$800,000 alone or with their accompanying spouse, and have at least two years of expertise in business management. The Owner-Operator Labour Market Impact Assessment (LMIA) method, which entails two stages, would currently be the closest substitute for the Canadian Immigrant Investor Program.

This Program Has Been Terminated Permanently. The goal of the Immigrant Investor Program is to draw in talented businesspeople who can contribute to Canada's development by making a sizable investment in its economy. Investors who fulfill all standards for this Canadian immigration program may receive their permanent resident visas for themselves and their immediate family members (so long as they are not found inadmissible for medical or security reasons).

The Conditions

The following criteria must be met by investors in order to be eligible for this Canadian immigration investor program:

- The investor must not intend to reside in Quebec (if Quebec is your desired destination, see Quebec Investor Program);

- The investor must be able to show that they have the required business background. 

- This can be accomplished by managing a team of at least 5 employees or by having owned and maintained a qualifying firm;

- The investor's net worth must be at least $1,600,000 CAD and must have been acquired legally.

- The investor is required to invest $800,000 CAD with the Canadian government (which will be returned to the investor 5 years later, without interest).

- The investor (as well as family members) is not deemed to be inadmissible for reasons like security or health.

Amount Invested

The investor's $800,000 CAD investment will be handled by Citizenship and Immigration Canada. About five years and three months after the payment was made, Citizenship and Immigration Canada will repay the $800,000 investment without interest. The Canadian provinces, who are securing the investment, plan to utilize it to boost employment and the nation's economy.

The process

The investment must typically be made by applicants 30 days after their application has been granted. The applicant (and his or her immediate family, if appropriate) may apply for their permanent resident visas after the application has been accepted and the investment has been made.

For many of us, moving to Canada is like realizing a dream because of all the services the Canadian government offers immigrants. Additionally, the government provides work opportunities and healthcare services to immigrants. It's fairly simple to find work in Canada if you have talent. In Canada, the immigration procedure is also simple.

You need to be aware of the Canadian immigration fees if you intend to relocate there. The number of families has an impact on the immigration fees for both permanent and temporary residency. I'll outline the many sorts of Canadian immigration costs in this article.

Fees for permanent residency

Depending on the type of immigration stream you are applying for, there may be different costs associated with obtaining permanent status. Once an application is accepted, the applicant must be on the lookout for the subsequent payment process. For each program they are applying for, they must additionally pay a separate fee.

Processing charges for business immigration

Perhaps you want to go to Canada and work as an investor, an entrepreneur, or a freelancer. Canada business investment visa is a great program for business immigration. The following processing expenses must be paid if you are applying for immigration as an investor:

- You must pay $1575 if you are the primary applicant.

You must pay $825 for your spouse or common-law partner. You must also pay an additional $225 if you have a kid under the age of 22 who is unable to support you financially.

Economic processing charges for immigration

Immigration processing costs vary depending on a number of factors. If you are a skilled federal employee and a skilled worker in Quebec, you must pay a specified sum. Canada’s investment program is a great option for immigration. The following immigration processing costs must be paid by applicants under the Canadian Experience Class, National Skill Trades, and Provincial Nominee Programs.

- The set amount for permanent residency for a principal applicant is $2075.

- An additional $1325 must be paid to your spouse or domestic partner.

You must pay $225 if your child is under 22 years old and unable to cover his cost per child.

Processing costs for family sponsorship

If you are a Canadian permanent resident, you may also sponsor your relatives. Processing costs for family sponsorship vary depending on the nature of the connection to the particular candidates. The following costs are set as processing costs for family sponsorship.

For each child under the age of 22, you must pay $150. If you want to sponsor your husband or common-law partner, you must pay $1050.

- You must spend $1050 to sponsor your parent or grandparent for the primary candidate. You must also pay $1050 to sponsor the principal candidate's spouse.

Fee for the right to permanent residency

The preceding list does not include the fixed amount for permanent residency that the Canadian government has established. Each candidate is required to pay $490. All candidates, including spouses, parents, children, and grandparents, pay the same fees.

Along with the immigration processing expenses, you can also be required to pay. The immigration process will be completed much more quickly as a result. If the government rejects the application, the right to permanent residency fee is refundable, but all other fees are not.

Processing charges for citizenship

For different ages, a citizenship processing fee may change. The following processing fees for Citizenship must be paid when you or a member of your family is prepared to finish the immigration process.

- Adults who are 18 years of age or older must pay $630.

- You must pay $100 if you are not an adult or under the age of 18.

- You must additionally pay an additional $100 if your adopted child is under the age of 18.

- Each applicant must pay $75 for a citizenship certificate.

- Each applicant must spend $530 for an application for citizenship on their résumé.

- Each candidate must pay $100 for a resume citizenship application if they are under the age of 18.

- Each applicant is required to pay $100 as the right of citizenship fee.

Costs for temporary residence

Depending on the type of visa, different fees may apply for temporary residency. The desire to work or study in Canada may indicate that you have temporary residency. The following temporary fees must be paid if you are a visitor or temporary employee in Canada.

The cost of processing visitor visas

If you wish to travel to Canada, you must get a visiting visa. Depending on your country of residence or another factor, you may need a guest visa. If so, you must pay the following expenses.

- A guest visa costs $100 if you're in need of one.

- You must submit a joint application and pay $500 if you are the primary applicant and you are requesting a visitor's visa for 5 family members.

- Each individual is required to pay $100 to extend a visitor's visa.

Processing costs for work permits

For all types of industries, the work permit visa remains the same in Canada. You must pay the following fees in order to process a work permit.

- You must pay $155 per person for a typical work permit visa.

- A work permit visa costs $465 for a team of three people applying together, but you must do so simultaneously.

- You must pay $100 if you're applying for a visa with an open work permit.

- Each individual must pay $355 to reinstate a work permit visa.

Fees for processing study permits

In Canada, obtaining a study visa is fairly simple. The following payments must be paid in order to obtain a student visa for Canada. Each student must pay $150, and each student must spend $350 to reinstate a study permit visa.

Fees for biometric verification Each candidate must go through a process that costs the following money for biometric verification.

- Each applicant must fork over $85.

- There is a $170 fee for a family of 5.

- A three-person artist group will cost you $255.

Conclusion

It's far too simple to obtain a residence permit or a visitor visa to enter Canada, but keep in mind that everyone is expected to abide by the country's laws. The laws of Canada may not be particularly strict, but if you breach them, you will undoubtedly face consequences. Even the court will impose financial penalties on you.

The information above regarding Canada’s investment program and immigration fees will be useful if you are going to migrate there in order to prepare yourself for the laws that are so carefully upheld by the Canadian people.

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