If you are an investor who wants to get a new passport, citizenship by investment programs can seem like a practical choice. A highly developed economy with a growing start-up system, like Canada, can help diversify your investments and obtain permanent residency.
But, can you buy Canadian citizenship, like you can in other countries? Not exactly. Canada citizenship by investment schemes offer various business immigration programs that enable foreign nationals to obtain permanent residency in exchange for capital investments.
A permanent residency status can pave the way for foreign nationals to obtain citizenship. In this article, you can find the investment requirements for business immigration, the benefits that attract entrepreneurs, and the routes to Canadian citizenship.
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Benefits of Canadian Citizenship by Investment
There are plenty of benefits that come with being a Canadian citizen. These include:
- Global travel – As a citizen, you can live, work, and study anywhere in Canada. A Canadian passport gives you access to many visa-free countries or visa-on-arrival access, which is excellent for travel or business.
- World-class healthcare – The Canadian government provides extensive healthcare coverage for citizens and permanent residents.
- Robust social welfare system – Citizens have access to pension plans, employment insurance, housing, dental, and other social programs.
- Excellent education system – According to our Global Education Report, Canada is among the top five best countries for higher education. Citizens have access to renowned schools for themselves and their family members.
- Dual citizenship – Citizens can hold more than one citizenship without renouncing their previous nationality. Dual citizenship Canada increases mobility, job security, and economic opportunity.
How to Get Canada Citizenship by Investment
Foreign nationals must first receive a permanent resident status to get Canadian citizenship by investment. Permanent residence (PR) is different from Canadian citizenship. Permanent residence allows you to live and work in Canada indefinitely; however, a PR could be revoked.
Citizenship makes you a legal citizen who can hold a Canadian passport, vote, and run for public office. Based on our Global Passport Index, Canada ranks 14th with high investment potential, quality of life, and standard of living.
So, the first step of the immigration process is to choose the business immigration program that best suits your needs. The visa will grant you temporary residence in Canada. Once you obtain permanent residency, you’ll need to fulfill specific requirements. You must physically reside in Canada for at least 1,095 days (three years) during the five years immediately preceding your citizenship application and integrate into Canadian society.
Facts about buying Canadian citizenship | |
True | False |
You first receive permanent residence. | You can buy Canadian citizenship. |
You choose a business immigration program. | All you need is a one-time payment. |
Obtaining Canadian citizenship is a long-term commitment. | There are no other requirements for a Canadian passport. |
Canada CBI: The Main Routes
Millions of foreigners invest in Canada. Although Canada doesn’t provide a direct path to “citizenship by investment”, the country offers different business immigration programs, which can provide a permanent residence and, eventually, citizenship. The main pathways for Citizenship by investment in Canada are the Start-up Visa program and the Quebec citizenship program.
Start-up Visa program
The Canada Start-up Visa program is a business immigration program that enables innovative entrepreneurs to become permanent residents by opening and running a new business. Successful applicants can bring significant economic benefits to Canadian society.
The Canada Startup Visa requires you to:
- Run and manage your new business in Canada with a work permit.
- Receive permanent resident status in one to two years of operating your Canadian business.
- Meet the requirements for obtaining Canadian citizenship.
The Canada Start-up Visa requires a minimum investment from one of the designated organizations. Foreign entrepreneurs must receive at least $200,000 from venture capital funds or $75,000 from a Canadian angel investor group.
Canadian business incubators don’t require a capital investment; only that innovative entrepreneurs are accepted into the business incubator program. For this immigration process, you need business management skills, a comprehensive business plan, and sufficient settlement funds.
The Canada Start-up Visa program is an excellent opportunity for medium and high-net-worth foreign entrepreneurs who want to become business owners and immigrate with family members and gain Canada citizenship.
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Quebec immigration program
The Quebec citizenship program has two classes of business immigrants: entrepreneurs and investors. These programs have different eligibility criteria but require immigrants to invest and settle in Quebec.
The business immigration programs include:
- Quebec entrepreneur program – This immigration process can attract entrepreneurs to open a Canadian business in Quebec. The program requires a minimum net worth of $300,000 and a business venture that provides significant economic benefits.
- Quebec immigrant investor program – This is the only passive investment program for high-net-worth investors. It requires a net worth of $1,600,000, a minimum investment amount of $800,000, and physical presence in Quebec province.
Successful applicants with French language proficiency can receive Canadian permanent residency and sponsor family members to settle there and later apply for Canadian citizenship.
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Other Business Immigration Programs: Provincial Nominee Programs (PNPs)
There are many Canadian business immigration programs across various provinces, including Alberta, British Columbia, and Nova Scotia. Provincial investor immigration programs have their own requirements, language proficiency, and eligibility criteria.
Foreign entrepreneurs, workers, and investors can use them to obtain Canadian permanent residency. Here is a quick look at some of them.
Alberta Rural Entrepreneur Stream
Foreign entrepreneurs with adequate management experience can create a pathway for acquiring Canadian citizenship. First, they must start a new or buy an existing Canadian business in a rural Alberta community, which can help them immigrate to the province and receive permanent residence.
Successful applicants must have a:
- Minimum net worth of $300,000.
- Minimum investment amount of $200,000 from their own equity.
British Columbia Entrepreneur Immigration – Base Stream
The province of BC aims to attract foreign entrepreneurs who want to buy or start a Canadian business in high-growth, urban locations. This immigration process is the first step to obtaining Canadian residence for those who can boost the Canadian economy.
Successful applicants must have a:
- Minimum net worth of $600,000.
- Minimum investment amount of $200,000 in the business.
The business owner must provide at least one full-time job to a Canadian citizen or permanent resident.
Nova Scotia Entrepreneur Stream
This business immigration program attracts foreign entrepreneurs to start or buy an existing Canadian business. It can help the business owner become a permanent resident and provide employment, boosting the Canadian economy.
Successful applicants must have a
- Minimum net worth of $600,000.
- Minimum investment amount of $150,000.
Canadian Citizenship by Investment at a Glance
Program | Financial Requirements | Time to Citizenship |
Start-Up Visa Program | - $200,000 minimum investment from venture capital funds - $75,000 from angel investor group - no investment requirement from business incubators | Three years after receiving Permament Residence you can apply for Canadian citizenship. |
Quebec investor program | - net worth of $1,600,000 - minimum investment of $800,000 | |
Alberta Rural Entrepreneur Stream | - net worth of $300,000 - $200,000 minimum investment | |
British Columbia Entrepreneur Immigration | - net worth of $600,000 - $200,000 minimum investment | |
Nova Scotia Entrepreneur Stream | - net worth of $600,000 - $150,000 minimum investment |
Other Ways to Acquire Canadian Citizenship
People can obtain citizenship in Canada through three main pathways. These include:
- Citizenship by birth: Individuals born in Canada to at least one Canadian parent become citizens.
- Citizenship by descent: Individuals born outside of Canada to at least one Canadian citizen can apply for Canadian citizenship by descent.
- Citizenship by naturalization: Foreign entrepreneurs, investors, and workers can apply for obtaining Canadian citizenship by first becoming a permanent resident. They start with a work permit to enter Canada, after which they can meet the requirements for permanent residence.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
Frequently Asked Questions about Canada Citizenship by Investment
How much do I need to invest in Canada to get PR?
The minimum investment depends on the business immigration program you select. For example, the minimum investment for the Canada Start-up Visa is $200,000 from a designated venture capital fund or $75,000 from an angel investor group. The goal is to create business ventures that promote the Canadian economy.
How much does it cost to become a Canadian citizen?
To become a Canadian citizen, you would pay about $649.75 for an adult and $100 for a child. This cost includes the fees for the right of citizenship and processing fees. The right of citizenship fee for a stateless adult born to a Canadian parent is $119.75.
What is a Golden Visa Canada?
Most European countries have a Golden Visa, which provides a quick way to get residency or citizenship by investment. Canada is different. Instead of offering a direct Canada Golden Visa, the country provides unique business immigration programs that create a path to permanent residency. These include the Quebec investor program, Canada Start-up Visa, and provincial investor immigration programs.
What is the fastest way of obtaining Canadian citizenship?
There are three methods for acquiring Canadian citizenship: by birth, descent, and naturalization. To become a citizen, a foreigner must first get a work permit through business immigration programs, like the Canada Start-up Visa, gain permanent residency, and meet the requirements for Canada citizenship.
Can a US citizen get Canadian citizenship?
Yes, a U.S. citizen can become a Canadian citizen and hold dual citizenship with the United States. But first, they must apply for a work permit and gain permanent residence. Business immigration programs like the Canada Start-up Visa are an excellent opportunity for US entrepreneurs with a comprehensive business plan.
How easy is it for a US citizen to obtain Canadian citizenship?
Obtaining Canadian residence is not easy, even for a U.S. citizen. Business immigration programs have various requirements, such as minimum investment criteria. You must also be physically present in Canada for three out of five years to gain permanent residency.
What are the basic eligibility requirements for the Canadian citizenship by investment program?
Canada citizenship by investment schemes are different from those of many other countries. The eligibility requirements vary based on the business immigration program you select. For example, if you choose the Canada Start-up Visa program, you must have a qualifying business and receive backing from a designated organization. You must also file taxes in Canada for at least three of the five years.
What are the language requirements for Canadian citizenship?
Most provinces in Canada require a language proficiency of level 4 or over based on the Canadian Language Benchmarks (CLB). Citizens often use English or French, the two official languages. This is a basic requirement for foreigners who invest in business development or the real estate market and want to gain permanent residence.
What is the 1,095 day rule for Canadian citizenship?
The 1,095-day rule means you must physically live in Canada for three years during your five-year stay before you can apply for Canadian citizenship. If you want to leave the country without a Canadian passport, you must have a valid permanent resident card and check whether you are eligible for visa-free travel.
What is golden citizenship in Canada?
In Canada, you can gain permanent residency by investing in a business. Three to five years after making the investment and gaining permanent residency while maintaining a physical presence in Canada, you can apply for citizenship. If successful, you’ll be granted a Canadian passport.
Can I get a Canadian permanent residence by investing in an innovative foreign company?
To create a path for Canadian permanent residence, you must invest in a business venture that boosts the Canadian economy. That can include residential and commercial properties, or making passive financial investments in a particular province.
How much is the Golden Visa for Canada?
The Canada Startup Visa (which is essentially the Golden Visa for Canada) costs CAD $2,385 for main applicants and CAD$ 1,525 for their partners and CAD$ 260 per child. The overall cost, including consultant fees, medical exam, travel expenses, and settlement expenses, can range from CAD $8,735 to CAD $16,735 or over.
Can I receive Canadian citizenship with a criminal record?
In most cases, people can’t apply for Canadian citizenship if they received a criminal record or an indictable offence in the last four years. They would have to wait for four years to pass after the date of their conviction before they are eligible for citizenship.
