The past few weeks have been filled with significant changes across the immigrant investor industry:
- It is still the Province of Quebec's intention to reopen the Quebec Immigrant Investor Program (QIIP) as soon as possible, which we expect to be later this year, maybe early 2023;
- Caribbean Citizenship by Investment Programs (CIPs) are unable to serve applicants from Russia and Belarus given the recent sanctions and new limitations on the ability to conduct proper due diligence;
- European programs have either closed down completely, have stopped accepting Russian and Belarusian applicants, or undergone program changes;
- The US EB-5 Regional Center Program is expected to be re-approved until 2027; and more.
The first three months of 2022 have ushered in the highest levels of geopolitical uncertainty that I have ever seen and the immigration programs are being modified to reflect this.
Personally, I am truly stumped when it comes to guessing what the next 5 years will look like for the world and it's for that exact reason that we are seeing record levels of demand for the Caribbean CIPs from ALL regions. I write "ALL" in capital letters because this now includes non-traditional markets like the US, Canada, and Europe.
If you are an Immigration Professional but have not yet taken the time to learn about these programs, I urge you to read this Linkedin article written by my colleague. Our entire business model is built on generating new sources of revenue for Immigration Professionals; we create and manage immigration programs and investment products that you can introduce to your high net worth clients and you get paid for it. In addition to paying you the commissions from these programs, we can teach you how to promote these programs and how to prepare the applications.
In addition to the immigrant-investor programs, we can also introduce you to real estate projects that pay you 4% commissions, and wealth management services for your high net worth clients who are looking to diversify their assets.
Below are in-depth updates on various programs and products that we offer. Please do not hesitate to contact us to ensure you have all the latest info, the latest marketing material, and the latest application packages.
Antigua and Barbuda Citizenship By Investment
Antigua and Barbuda has embraced the move to digital currency over these past years. It's quite interesting to watch the evolution of digital currency usage and how it can affect the everyday consumer. I wrote a Linkedin article on crypto in Antigua back in October in case you missed it. This is one of the reasons crypto investors are attracted to the Antigua and Barbuda program over others so I invite you to contact me to learn more if you wish to grow this part of your business.
Processing times in Antigua and Barbuda have remained within a 3 month average even with increased volume and on-and-off lockdowns. The Antigua CIU has really stepped up and delivered throughout the pandemic and we see no reason processing times will slow down.
The Antigua and Barbuda CIU recently announced the appointment of Ms. Sherelyn Thomas as Deputy CEO. This is a long-awaited appointment which will ensure the CIU maintains fast processing times and a reputation of credibility and honesty; Ms. Thomas has been a hard working and dedicated colleague at the CIU for many years, she is well qualified for this position, and we welcome her into her new role.
Because of the inability to conduct proper due diligence in Belarus, Russia, and Ukraine at the moment, the Antigua and Barbuda CIU announced that they cannot accept files from citizens of these countries for the time being.
We are very proud to be the leading service provider and promoter of this excellent program and encourage you to contact us to learn more.
St. Kitts and Nevis citizenship by Investment
The St. Kitts and Nevis CIP really had a banner year in 2021 in terms of demand. This government quickly adapts to market demands and actively promotes their program, which leads to consistent buzz in the market.
They had a special discount pricing for families of four, but that has expired and we are back to the regular contribution pricing of US$150,000 for a single applicant and US$195,000 for a family of four.
Just like all other Caribbean CIPs, the CIU announced that they are no longer accepting applications from citizens of Belarus and Russia.
Our team’s expertise in this program is second to none, and we have added more resources to this program in the recent months to respond to the growing demand. Thanks to our white-label marketing material, detailed applications guide, and competitive pricing, we have all the tools to help you be successful and competitive in this avenue.
Quebec Immigrant Investor Program (QIIP)
The Quebec Investor Program remains paused for the moment. All indications point toward an updated Program reopening towards the end of the year, or possibly the beginning of next year. The updated Program will be designed to improve the retention of investors and their families in the Province of Quebec, increase the chances of applicants learning French, and maximize the benefits for the Province.
We remain confident that the Quebec Immigrant Investor Program will continue to be the most popular business immigration program in Canada, largely because of its passive investment structure. It is the only business immigration program in Canada that does not involve the active involvement of the investor in the management and operations of a Canadian business.
Our colleagues at Sherbrooke Street Capital are already preparing, and have already begun speaking with immigration practitioners about potential cases. Please let us know, and we will make sure you are on SSC’s mailing list so you will receive any updates as they become available.
US EB-5
U.S. Congress has passed the "EB-5 Reform and Integrity Act of 2022" as part of the overall U.S. Omnibus Spending Bill. The EB-5 Regional Center Program will be officially reauthorized shortly and is for five years, to September 30, 2027, with significant improvements that will impact existing and future investors.
- The minimum EB-5 investment amount will be US$800,000 in a qualified high-unemployment or rural area.
- Investors that are already in the United States on another visa can now file their I-526 and their adjustment of status petitions at the same time.
- 2,000 visas are set aside for the rural area Regional Centers and 1,000 for the high unemployment area Regional Centers.
- Implementation of new integrity measures to protect investors; and more.
We are expected to receive USCIS's new regulations and procedures by mid-May so please follow our Linkedin and WeChat (scan the QR code below or search for "ClientReferrals") to receive the latest info on our investment offering.
Ontario OINP Entrepreneur Stream
On March 4, the Province of Ontario held their latest draw for the Entrepreneur Stream, issuing 21 invitations to apply. The minimum score for those invited was 152 out of 200. This represents a slight increase from the last draw in 2021, which had a minimum score of 147.
The OINP Entrepreneur Stream is an excellent program for those entrepreneurs who are interested in establishing their businesses in Ontario. The Province recently expressed its support for this program and set a target to bring in $20 Million in investment through this program this year. In speaking about the program, Labour Minister Monte McNaughton indicated that he sees the program as “an opportunity to create new businesses outside of the GTA, to create more jobs for people across the province.”
ClientReferrals is currently working with one of the most successful vertical farms brokers in the Province. Vertical farming is one of the fastest-growing industries, merging technology with traditional farming practices. It is also a business that is scalable, allowing entrepreneurs to grow their business as they become comfortable in their new country.
Start Up Visa Program
The SUV continues to be an excellent program for candidates who have innovative business ideas that they would like to launch and actively manage in Canada.
Last week, IRCC made much awaited, and not completely unexpected updates to their processing timelines. The recent update clarifies that SUV applications are expected to take over two and half years. Click here for the link.
The SUV is a niche business immigration program, and certainly isn’t suitable for everyone. If you have a client who is willing to move to Canada to create and manage an innovative business, we will be happy to review their profile and business idea.
Canada Real Estate Investments
On March 1st, the Canadian Federal Government announced an intention to ban foreign investment in residential real estate. There are still many details to be determined so, if you are promoting Canadian real estate investment to overseas buyers, please stay tuned for developments as more information comes to light.
If you have some prospective clients who are interested in making investments in Canadian real estate, please contact us. This ban is not intended for Canadian citizens living abroad, is limited to residential real estate, and seems to have various exceptions so depending on the investor's situation, we will try to find a solution for you and your client.
One very interesting opportunity at the moment is Broccolini’s latest masterpiece, which is nestled in Montreal’s prestigious Golden Mile neighbourhood. This short introduction video provides a glimpse into the passion that the entire team has put into this project.
Construction at Le Sherbrooke is expected to begin later this year, with completion of the project projected for 2025. Perfect timing for clients who are looking for a long-term investment.
Since 2017, we have been working closely with the development team at Broccolini. Our agents have earned generous commissions, and been able to offer their clients truly unique investment opportunities and entry points in Canadian real estate.
Thank you for your trust and ongoing collaboration, and I invite you to contact anyone on our team to see how we can help you grow this part of your business.
