Special Interview
With Mr. Guy Pilote, Senior Vice-President at Sherbrooke Street Capital Inc.

This week, I had the privilege of meeting with one of TIMC’s preferred partners, Mr. Guy Pilote, the Senior Vice-President responsible for the overall direction of the Immigrant Investor Program, at Sherbrooke Street Capital, a brokerage firm and investment dealer.  

I thought you would be interested in reading his intake on the Reopening of the Immigrant Investor Program.

Interview with Mr. Guy Pilote Senior Vice-President Sherbrooke Street Capital Inc.

Mr. Pilote, the Government has announced the Reopening of the Immigrant Investor Program for 2015. For how long has the Program been closed?
The last submission period was for two months only - from January 19 to March 20, 2015. The Program has been closed since then.

Why did the Government close the Program and chose to reopen it now?
For many years the Quebec and Federal Immigrant Investor Programs ran in parallel and were the most popular immigration programs for investors around the World.  In 2011, the Federal IIP closed its door, and was eliminated altogether in February 2014. 

How long will the Program be open in 2015? 
From August 31, 2015 to January 29, 2016

If someone wants to apply, when should they start the process? How long will it take to prepare their file and submit it?
We suggest the candidate to start the process as soon as possible. The length of time for putting the file together varies from case to case depending on various factors such as country of residence, availability of required documents, and so on. As soon as the file is prepared, it allows the professionals to have time to review the file and make the improvements.

Additionally, because demand is expected to be so high this time around, it is best to have the file ready for filing when the Program re-opens at the end of August. 

What is the criteria for an investor to be able to apply for this Program?
To be eligible for this program, the investor must:

• Have, alone or with his accompanying spouse, including de facto spouse, net assets of at least $1,600,000 obtained legally, excluding the amounts received by donation less than six months before the date on which the application was filed. 
  
  
• Have 2 years of experience in management over the past 5 years in a legal farming, commercial or industrial business, or in a legal professional business where the staff, excluding the investor, occupies at least the equivalent of two full-time jobs, or for an international agency or a government or one of its departments or agencies;
  
  
• Intend to settle in Québec and sign an agreement to invest $800,000 with Sherbrooke Street Capital (SSC) Inc. A financing option is also available for those investors who don’t want to block the capital themselves.

Why do you believe the Immigrant Investor Program is a good choice for foreign investors?
Unlike a lot of immigration programs, the IIP doesn’t have specific requirements regarding language ability, education, or age. As long as the Investor can demonstrate that he meets the requirements of the Program, he and his spouse and children will receive permanent residency. It gives the whole family access to many advantages, such as world-class education system and the peace of mind that comes with a politically and economically stable country like Canada. 

Do you think the eligibility criteria for the Program could change in the near future?
The current program was elaborated under the agreement between the Federal and Quebec Governments and it allows Quebec to have its own jurisdiction on the selection of immigrants. The agreement however, is that the selection criteria of the Federal Program and Quebec Programs should be the same. 

In your experience, how has this Program helped your clients preserve their future?
I believe the Immigrant Investor Program has proven over the years to be a very good investment for all the applicants who have taken advantage of it. Not only has it given these investors and their families the opportunity to settle in Canada and have access to our quality of life, but it has also opened doors for them to new business opportunities. Canada is a great country in terms of our quality of life, political security, medical care, education and stable business and financial climate.

And finally, how fast do you think the Program will fill up?
It will be very quick. The last opening was very short, and many applicants didn’t have enough time to prepare the documents and submit their application in time.  This group of investors will be ready this time to submit their applications shortly after the IIP opens on August 31. Additionally, there is a sense of urgency in the market right now, as there is speculation that the criteria for the IIP will be modified and that this could be the last opportunity to apply for the Program before the investment requirement is increased from $800,000. 

I hope that these questions answered by Mr. Guy Pilote from Sherbrooke Street Capital have helped you better understand the Immigrant Investor Program Reopening and the importance of securing your place in the Program as soon as possible.

If you have any additional questions about the Program, please do not hesitate in contacting us.

HAVE YOU DOWNLOADED THE
IMMIGRANT INVESTOR PROGRAM BORCHURE?