CANADA March 1998 Emigrate
A sound investment
IF you fail the points test and are still desperate to get to Canada, don't despair quite yet.
The country runs a programme -- the Immigrant Investor Programme -- which, provided you have enough capital, can offer you an alternative permanent entry into the country.
The programme was created by the government of Canada to enable investors to obtain Canadian citizenship for themselves and their families quickly. It also encourages them to contribute immediately to the country's economic growth.
The French-speaking province of Quebec runs the only government-secured Immigrant Investor Programme, and though not 100 % guaranteed, Quebec's programme offers plenty of protection.
One of the banks entitled by the government of Quebec to offer the Immigrant Investor Programme is Desjardins. The programme is run through its subsidiary, Desjardins Trust.
Desjardins is the sixth most important banking institution in Canada and by far the largest in Quebec.
And on the world stage, with 80 billion Canadian dollars in assets, it ranks 120 in the world of financial conglomerates.
Candidates who wish to adhere to the Immigrant Investor Programme offered by Desjardins must satisfy these conditions required by the government:
o possess net assets of at least C$500,000;
o have a minimum of three years of experience managing a business;
o undertake, through an agreement with Desjardins, the Investment Dealer, to invest a sum of C$350,000 for a period of five years in an eligible corporation.
The Desjardins Immigrant Investor Programme allows the investor to establish a new home in the province of Quebec or in any other province in Canada.
Regardless of the province chosen for place of residence, the candidate must also successfully pass a medical and security checks in order to receive an unconditional visa issued by the Canadian government.
QUEBEC selects its own immigrants in cooperation with the federal government.
"Quebec's criteria differs and migrants should inform themselves of the differences," says Mitchell Brownstein of leading immigration attorneys Brownstein and Brownstein.
