Eb5 Visa For Canada
The United States, Canada, Australia and the UK have agreements with other countries to provide a visa for investment and immigration. They are called “EB5” visas. Countries and specific visa requirements vary widely so you need to speak to an experienced immigration lawyer…Canada has introduced many popular immigration programs to attract foreign investors. One of the most preferred Canada immigration scheme is the Quebec Immigrant Investor Program (or QIIP). Under this program, a candidate can get Canadian Permanent Residency in exchange of financial contribution to Québec, Canada.
Canada has always been a popular country for immigrants from all over the world. The people, who decided to move to an advanced country boast about it as one of the best decisions of their life. Canada gives them the opportunity to settle and help their families. But not all admit that choosing which country to move is not an easy task.Canada has a strong and diversified economy. Its banking institutions are recognized worldwide. Canada offers suitable conditions for investors looking to get the most out of their capital by giving them the opportunity to get dual citizenship (Canadian) immediately after they have invested in the country.
Eb5 Visa For Canada
EB-5 visa requirement – Canada
What are the requirements for an EB5 Visa?
- Requires investor’s investment be US $1.05 M or minimum $800 K (1.33M or 1.01M Canadian Dollars) in a “TEA”.
- Investment is typically through a USA Regional Center project or in a new business directly.
- It is required to create and maintain 10 full-time jobs for a minimum of two years.
- A direct investment can only create “direct” jobs. Furthermore, an investor should actively guide or manage the jobs.
- An investment in a regional center can generate indirect, direct, and induced jobs and only needs passive management on the part of the investor.
The U.S. Citizenship and Immigration Services (USCIS) allows 10,000 EB-5 visas a year.
Bank of Canada – Banque du Canada is the Agency that has framework and monetary policy for moving assets and money outside of Canada. See their policy here.
Canada EB5 Visa
The EB-5 U.S. The Immigrant Investor Visa Program is available to Canadian citizens. There is a growing demand for the EB-5 Visa category among Canadian nationals. If you (or your child) were born in Canada, then you can apply for the fast-track Green Card category for the United States through the EB 5 USA Investor Visa Program. See Processing Times for Canada
Targeted employment area – “TEA” is defined as:
– Rural areas
– Areas with unemployment 1.5x of the national average
Canadian Investor age requirement
There’s no age limit. The meaning of this simply is anyone qualifies to be an EB-5 investor. However, since a minor probably does not have the assets or income to be eligible as an EB-5 investor on his own, the parents or some other guardian giving him/her the investment amount requires showing the necessary documents to prove the source of funds. Occasionally, an investor pursuing an EB-5 visa will be unable to get specific documentation. In such instances, the applicant may file a declaration giving an explanation as to why they are unable to supply the needed documentation.
The only time age matters is if the parent is applying and children are also part of the application as derivatives. They must be under the age of 21 to be included in a parent’s application.
Income requirement
An investor must have the qualification to support a successful business investment. What is the financial criteria? See below to know:
- A net worth of US $1.05 million – For an individual or a married couple; or
- $200,000 or more in Individual Income, or $300,000 or more joint income, in each of the two previous years; and
- Comparable level of Future income and assets.
Source of Assets, plus any obligations or legal liabilities associated with these assets, play an important role in your EB-5 application. To prevent money laundering and resolve security issues, USCIS meticulously checks the source and course of the funds of an applicant. Ensuring the legitimate source and channel of their investment funds is crucial for EB-5 investors. They must present documentation that complies with USCIS’s strict requirements. In case the applicant isn’t able to provide certain documentation, he/she may submit a declaration and must explain why they are unable to provide the required documents.
In case you do not have enough investment funds, you might be wondering what can be a possible lawful alternative source of funds, right? Worry not for you may obtain funding from a variety of sources like salary, stocks, equities, and bank account deposits. Here are some of the other possible lawful funding sources:
Loans as a funding source for EB-5 investments
Typically, a financial institution provides a loan for an EB-5 investment. The loan’s collateral must be specified. In contrast to a previous regulation, USCIS now permits the use of a loan as a source of financing only if the investor is the primary lender. Additionally, the collateral must be worth at least as much as the loan amount. USCIS may issue a request for evidence (RFE) if the collateral value is close to the loan amount. EB-5 best practices advise the loan amount should not exceed 70% of the value of the collateral property.
Tax returns and other financial records
Corporate and individual tax returns should be filed in any jurisdiction within the last 5 years. When the tax returns of an applicant reveal a larger income in previous years, he or she should likewise provide tax returns for the 3 years with the highest income. Preferably, EB-5 tax planning must occur before filing and with the assistance of a professional.
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EB5 Canada – Benefits
What does an eb 5 visa do for Canadian citizens and their families, who are trying to immigrate to the US? Learn about its advantages:
- Confirmed route to becoming a permanent resident upon meeting the basic underlined requirements of investment and job creation.
- Freedom to travel, live and work anywhere in the US.
- Eligible for all jobs including government job, set up a business or multiple businesses or even retire anywhere in the US without restrictions.
- As a GC holder, your unmarried children can:
- Study in any education establishment without any visa restrictions.
- Eligible for instate tuition fee if maintained residence in that particulate state
- Eligible for any funding or scholarships.
- Study as a day scholar and avoid long separation from family just to obtain a quality education.
- Explore the entire US job market, apply and qualify for a job without getting into the hassle of visas and other restrictions.
- Your spouse will automatically become eligible for a GC through you and can enjoy all the benefits available to a green cardholder.
- Enjoy greater international mobility through the visa-free travel privileges available to US green cardholders.
- Family can relocate via the EB-5 and get access to the best medical facilities
EB 5 Visa for Canadian citizens
EB-5 visa green card program provides Canadian nationals to obtain a permanent residence in the US upon meeting the EB-5 requirements. This EB5 Visa will allow applicants and their families to move and live in the US freely. The work opportunities available for green card holders are much higher than any other immigrant. Moreover, green card holders are not required to carry a passport when traveling throughout the United States and its territories.
To obtain assistance with the necessary documentation and procedures for acquiring a US Residency Green Card, we advise you to employ legal counsel, who specialize in this type of program, since they can assist you on the fastest path to acquiring a Green Card in the United States.
Canada is one of the target markets for the EB-5 companies as the number of applications is on the rise. This eb 5 visa helps secure a permanent future for the children in the US, they get the right to study anywhere and live anywhere. A lot of working professionals are moving to the US for intentional exposure but sometimes are restricted with huge visa restrictions. EB-5 is the ideal route to bypass the complications for the Canadian nationals.
If wealthy parents “gift” their children EB-5 funds prior to sending them to college, not only would they pay lower tuition fees as U.S. residents, but the post-graduation visa concerns would be eliminated.