MacMaster Poolman Law Office

[Toronto - Canada]

The firm of MacMaster Poolman Law Office, which for approximately 15 years has conducted an immigration practice, had its origins during the 70's and the 80's in a law firm under that name partnered by Mr. Willem Poolman, which for more than 30 years has acted for large investors, banks and public under writings, having accumulated an extensive experience in dealing with investments and is therefore excellently equipped to handle investor applications for permanent residence. To that end this law firm has opened a special section intended to serve clients needing this type of expertise.

With the current delays in the processing of applications for permanent residence in Canada it has become increasingly practical to consider the provincial programs for investors admission to Canada and the Federal Canadian program for investors.

The processing time for those applications is much shorter, for the programs by the Provinces of Quebec and Prince Edward Island an interview can be arranged in 3 to 4 months after application and final immigration visas are mostly issued in less than one year.

This opens the possibility for persons with a net worth (total assets) of Can$800,000 for Quebec and for the federal Canadian program and Can$400,000 for Prince Edward Island to take advantage of these programs.

PROVINCE OF QUEBEC & FEDERAL CANADIAN PROGRAMS

The investor must be willing to make a contribution to the provincial economy of Quebec, or for the Federal program, to the economy of Canada, by making an investment in a Government run investment plan calling for an investment of Can$400,000 for 5 years at 0% interest. The investment is guaranteed by the Government so the capital is not at risk. An investment Bank with which this law firm has entered an agreement, is found prepared to make the investment on behalf of the investor, but in that case the investor must be prepared to pay that Bank the cost of the interest over the 5 years, which amounts to approximately Can$120,000. Once that payment is made the investor has no more responsibility in connection with the investment.

PRINCE EDWARD ISLAND PROGRAM

The investor is asked to invest Can$200,000 in the preference shares of a local corporation chosen from a list provided by the provincial Government. The investor is elected to the Board of Directors of the corporation and after 5 years the shares are redeemable and the investment might be repaid. The Government does not guarantee that the Corporation will have the cash funds at that time and the investor is on his own in that respect. Again an investment Bank has been found prepared to take over the position of the investor and will assume the entire risk of the investment to the investor on payment of a sum of Can$105,000 to Can$110,000 depending on the circumstances.

The provincial programs stipulate the investor must be prepared to initially settle in the province concerned. Should the investor after initially settling in the province feel dissatisfied living there, then the laws of Canada allow every resident to live where they prefer but as the investor is required to give an undertaking that he intend to settle in the province concerned he should at least have made the effort of testing the grounds and if after one or two years the investor is still unhappy living in that province he can then change his residence.

The province of Prince Edward Island requires the investor to post a bond of Can$25,000, which is repaid if after one year he can show that he has resided in the province. Moreover, the lines of communication in Canada are very efficient and a flight of 1 to 2 hours will move the investor immigrant to the city of Toronto should he wish to engage in business there also.

Knowledge of English is not a necessary requirement. For the province of Prince Edward Island a bond of Can$20,000, to be held by the Government, may be required if moderate English is not one of the qualifications of the investor. The funds will be repaid if after one year the investor shows he has learned sufficient English to have moderate use of that language.

All three programs are calling for some degree of management experience, mostly 2 to 3 years. The programs each have their own list of qualifications required from the investors, in terms of age, education, and business experience.

Our law firm will, on request, provide all such details, but the principal conditions have been here set out.

INTERVIEWS

After initial application, the province of Quebec will invite the investor in 3 to 5 months to a visit of the province (at the city of Montreal) and for an interview and shortly thereafter the province will then make its decision known, selecting the investor as its provincial nominee, and then the federal visa officer will have only the duty to clear the investor and his family for health and security, which mostly takes up to 8 to 12 months. The province of Prince Edward Island will do likewise for a visit to Charlottetown, its capital, mostly within 2 to 3 months.

The federal investor applicant will only be invited for an interview after a little more than 12 months, which will take place at the visa office, where the application is made.

Our law firm will arrange for a lawyer to prepare the investor for the interview and in the case of the province of Quebec and Prince Edward Island the investor may be represented by that lawyer at the interview to assist him or her.

When requested, we will provide further details of the cost of application, legal fees etc.