In Canada, the Maple Leaf Country, permanent residency (PR) refers to an immigration position or title, wherein one stays in the nation. And even as he is regarded a permanent resident, he continues to formally enjoy the citizenship of a completely different nation.
Gaining the PR status is possible for individuals from every domain of life, and this covers the business individuals. Actually, there exist three methods to present a submission for the PR, as a business individual each having its own distinct set of rules to duly follow.
One method that a business individual from another nation may present a petition for the PR status is as an investor even as some of the laws for this designation cover:
- Possessing a net worth of not less than 16, 00,000 Canadian dollars. This capital ought to be lawfully obtained, and it may cover gifts, legacies or a partner’s assets.
- Making an investment of 800,000 Canadian Dollars into a national administration fund.
- Offering papers that clearly show that the aspirant has owned and run a firm, according to the rules of the Citizenship and Immigration Canada (CIC).
One may get a loan to make the administration fund investment in case the candidate’s credit record is acceptable, and he fulfills the conditions laid down by the financial establishment. The given investment is reimbursed, post a compulsory 5-year period has passed.