PNP program is about processing the applications of permanent residence submitted by applicants who are selected by a province or territory in Canada.
The Provincial Nominee Program (PNP) is supposed to enable provinces and territories to support the immigration of people who have expressed an interest in settling in their province or territory the province or territory believes are ready to contribute to the economic development and prosperity of that province or territory and Canada.
“The Canadian Experience Class is for skilled workers who have work experience in Canada and wish to become the permanent residents of Canada.”
The Quebec Immigrant Investor Program is passive in nature, meaning individuals don’t seem to be required to see or actively manage a business within the province.
In fact, the program requires the investment of $1.2 million into a prescribed investment (government guaranteed). Applicants must have the intention of settling within the French-speaking province of Quebec.
Successful applicants are issued a variety certificate from Quebec for Canada immigration, which allows them to induce Canadian permanent residence following health and criminality examinations by Federal immigration authorities.
➢ Acquires personal net worth of $2 million legally;
➢ Two years of suitable business or management experience, preceding the application within 5 years;
➢ Investment of $1.2 million into a passive government guaranteed investment for a period of 5 years bearing no interest;
➢ Intend to settle within the province of Quebec.
In order to satisfy the minimum net worth requirement of $2 million, applicants must demonstrate the net value of their current assets, additionally as their history of the acquisition of funds over the course of their employment with supporting documentation.
Net worth is established through bank statements, investor booklets, assets evaluations, audited financial statements and other pertinent and up to the current point documentation. Candidates are required to declare all of their personal assets and liabilities; however, they don’t seem to be required to produce evidence of assets beyond $2 million.
Applicants must demonstrate that their net worth has been legally acquired. This takes into consideration the individual’s past employment income, businesses, local market conditions, inheritances and donations. While it’s often difficult to produce detailed documentation of the primary stages of an applicant’s career, clear supporting documents will facilitate the applying process
The intention of the program is to attract business acumen and investment to Quebec. a knowledgeable applicant has typically owned or managed a vigorous trade or business, which may include professional practices, rather than merely managing investment activities. during this context, grey areas include professionals that don’t manage the business, passive property investors and investment managers. as an example, developing property may qualify whereas merely owning realty won’t qualify.
Suitable management experience is defined within the applicable regulations as:
“[T]he assuming, for a minimum of two years within the 5 years preceding the appliance for a extension certificate, of duties related to the design, management and control of monetary resources and of human or material resources under the investor’s authority; the experience doesn’t include the experience acquired within the context of an apprenticeship, training or specialization process attested to by a diploma.”
Successful applicants are required to create their investment with Investissement Québec for a period of 5 years, at the highest of which the capital is returned without interest. The 5 year period begins once the selection certificate is issued, before the applicant even lands in Canada. Proceeds from the investment are accustomed to fund various business and social programs within the province of Quebec.
The Quebec Investor program permits the applicants to finance the bulk of their investment via designated securities brokerage firms and investment banks. Typically, the financing schemes require a payment before the bank loans the balance up to $1.2 million. Then the applicant will deposit the sum with Investissement Québec. The deposit isn’t refunded at the tip of the five-year period. The bank takes fees and interest from the deposit, the immigration agent takes their commissions from the payment. The net cost to the investor is that the payment.