Quebec Investor

[Songsort]

Quebec is one of the best place for investors, so today lots of people want to invest in Canada.

Hi Ishitapatels, would you please elaborate on this. What industries/businesses should we invest in?

 

[Songsort]

STEP 3 : Interview and after, if review is successful, you will receive a Certificat de sélection du Québec
STEP 4 : Acceptance by the Government of Canada. Once you have received your Certificat de sélection du Québec, you must submit an application for permanent residence to the Centralized Intake Office in Canada. The Government of Canada will evaluate your medical file and that of your family members. It will carry out a security check of each person. Once these steps are completed, the Government of Canada will issue you an immigration visa.
Now, for some, it may take less than as compared to others. And for others, it would take couple of years or so, however Quebec Immigration is very quick nowadays in issuing CSQ's. Delays usually occur in the 'Federal' part of the process.

Dear XpressEnterprise,

I am hopeful to have my interview soon. At least my agent says so.
In your opinion, how long would it take from:
- interview to obtaining CSQ.
- CSQ to Acceptance by the Government of Canada, i.e. "Federal part"
What had been your experience, and what have you been hearing?

Thank you,

 

[Songsort]

My agent has just forwarded to me a letter "Avis d'intention de delivrance de certificate de selection du Quebec". In this letter, I am instructed to transfer the fund within 110 days.

I'm getting there, slowly. Patience is key.

 

[XpressEnterprise]

Great News. Yes, it's progressing slowly.

As for interview, CSQ and 'Federal part' timeline, there's no specific pattern or timeline. But it will eventually happen. If it's gonna take too long, just ask your agent to remind them. Since you are applying from UAE and you're a Cambodian National, go through Processing times – Investors and select UAE (as that is your country of residence right now) and see what they are telling you now. Here is my experience.

 

[Songsort]

Thank you XpressEnterprise,

I am trying to match your and my timelines. Did you make investment and get a CSQ in 2011?

Regards,
Songsort

 

[XpressEnterprise]

Thank you XpressEnterprise,

I am trying to match your and my timelines. Did you make investment and get a CSQ in 2011?

Regards,
Songsort

I don't remember exactly, but my federal part started at 2008. I applied for CSQ a year before that. I didn't mention my CSQ timeline out there.

I've heard timeline and procedure is quite different now. Most of the checks are done before CSQ now. In my time, Federal was doing most of the checks.

 

[sanddy]

Thank you XpressEnterprise,

I am trying to match your and my timelines. Did you make investment and get a CSQ in 2011?

Regards,
Songsort

hi songsort did they call you for interview before giving giving instructions of payment

 

[Songsort]

hi songsort did they call you for interview before giving giving instructions of payment

Hi sanddy, I didn't have an interview. I filed my application for CSQ in Mar 2015 and was expecting an interview around this time. In Feb 2016, the MIDI requested the resubmission of bank statements and translation of my degree. And now the MIDI sent me this notice of intent to issue CSQ.

The notice of intent said I need to transfer the fund in 110 days. In the meantime, I need to sign some agreement with the broker so they can send me instruction for fund transfer.

Where are you in the process, when did you submit your application?

 

[sanddy]

Hi songsort I also applied last year in March 2015 . In Feb 2016 they have asked me tax return and some additional documents . I have already submitted last week .Now waiting !!! Please let me know if you have chosen financing option how much you have to pay including their fees . Thanks !!!

 

[Songsort]

Hi songsort I also applied last year in March 2015 . In Feb 2016 they have asked me tax return and some additional documents . I have already submitted last week .Now waiting !!! Please let me know if you have chosen financing option how much you have to pay including their fees . Thanks !!!

Wishing you good luck sanddy. I guess when they are asking for additional paperwork, they are considering waiving the interview.

I had a call from my agent today. They are asking me to sign some paperwork before sending me the instruction for fund transfer. Verbally they are offering financing option of C$220,000. I probably go for the full investment.

 

[Songsort]

I am looking for advise from the forum member.

My agent strongly suggest that I should take the financial option, by paying C$220,000 and get nothing back, instead of investing C$800,000 and get the full amount back after 5 years.

If I put C$800,000 in a bank and earn 2% pa, I'd get 40,000 after 5 years. Even with 2% pa, the interest is 80,000. So I don't see any reasons for one taking the financial option, if one could afford the full investment.

My agent told me in his career, nobody takes the full investment option. Is there something everyone else sees but I don't?

Appreciate any comments.

 

[XpressEnterprise]

That is true. Most applicants opt for finance option, rather than paying full amount, mainly because your money get stuck for 4 years. and $800K is a huge amount to spare for 4 years.

As far as I know, following is difference in Full Investment and Financed Investment

Full Investment

• The investor deposits the full amount of CA$ 800,000. No further payment is required.
• After five years, CDN $800,000 is returned to the investor with no accrued interest. (The funds are invested in government bonds during the five-year term.)

Financed Investment

• The investor pays a reduced amount*, which is used to finance a CA$ 800,000 closed five-year term loan from a chartered bank. No further payment is required. However, the paid amount is not returned to the investor at the end of the five-year period.
• This option is particularly attractive for applicants seeking to retain maximum capital for investment in ongoing business operations.
• You could receive a grant of $40,000 to $250,000 and covering up to 10% of project costs.
• Financing covering up to 10% of total project costs (15% for business start-ups) - For projects costing between $300,000 and $400,000, the amount of the financial assistance is set at $40,000 **

* This amount may change marginally, if the prime lending rates in the national banking system rise or fall in response to changes in the Bank of Canada key interest rate.
** The contribution is paid out over four years. The maximum is $250,000 per company within a three-year period.

So, if you opt for financed option, you are left with $580,000 which will be in your possession and you can invest that money to build up your life here in Canada. Moreover, a lot can change in the next 4 to 5 years or so. For example, a property which is $300K right now, won't be $300K after few years, and would most likely increase. But your $800K will remain the same and when it's returned to you, ground realities are different now. I would only advise you to go for full investment if you have ample amount of funds available. In term of financed investment, you can even negotiate with your intermediaries about the final agreed payment.

You have to choose from the List of financial intermediaries.

 

[Songsort]

Again, thank you XpressEnterprise. I checked the list of financial intermediaries and mine is one of them.

In order to qualify for this program, we all have to prove to possess 1,6 mil so that where I am coming from. Of course, everyone wants to minimize his/her exposure and 220k is less than 800k.

My reasoning is I am not a good investor, in fact, never invested in anything in my life. So I feel safer to keep the whole amount in the Gov. hand. Am I too naive? Let's say I am an ok investor, with the 580k, I would have to invest in something that yield 6.5% pa in order to get back 220k in 5 years. I would be very happy to get 2% let alone 6.5% ;D ;D

What do you guys think?

 

[sanddy]

Hi Songsort ! I believe it is better to pay 220 K than to pay 800,000 if you have USD or AED because at this movement 1USD=1.33 moreover oil prices are going down due to Iran so after 5 year value of your 800 k will also reduce because Canadian economy depends on oil .

 

[Songsort]

Hi Songsort ! I believe it is better to pay 220 K than to pay 800,000 if you have USD or AED because at this movement 1USD=1.33 moreover oil prices are going down due to Iran so after 5 year value of your 800 k will also reduce because Canadian economy depends on oil .

That's true. Canadian economy depends on oil and Iranian oil has huge impacts on oil supply. Thank you sanddy.