Quebec Investor

[sgauswam]

Thank you xpress it's a good research, from where you getting this information, how you do research.. Please explain.. I am really impressed.
Thank you
Subhash

 

[Songsort]

There is a link at the bottom of that informative post. You can download the excel file full of data.

Here it is
http://www.cic.gc.ca/opendata-donneesouvertes/data/000001-eng.xls

 

[XpressEnterprise]

Total Cases Processed : 1,199 (Total Federal Cases Processed : 90)

It looks like Quebec's immigration programs have far better approval rates and 13 times more popular than Federal ;D

Yeah. True

But you also have to take into account the fact that Federal programs were terminated a year before. Those cases that went through had already passed through the "selection criteria"

 

[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.

On the second page of this letter, there is a line that reads: "Au BRCD: BVC de ABOU DHABI" so it seems my VO is Abu Dhabi. My agent does not know that yet, he still saying we can choose a VO based on citizenship or residency.

 

[Songsort]

Hi songsort ! I believe that 190,000 CAD is reasonable . They usually ask 220,000 CAD which includes 170000 USD financial intermediary fee and 40-50,000 USD is agent's candidate success fee( or you can say agent commission) . That's way agent always advice to get it financed . But It's ok ! If you will negotiate it around 190-200000 CAD as per today's conversion rate it will be 145-147000 USD otherwise make a single payment of 800,000 CAD there is no harm you will get it back after 5-6 year . just calculate what will be value of 800,000 Canadian dollar in your currency ( USD , AED or Cambodian CHR after 5 year when you will get refund.
Regards.

I am still considering the full investment option and my agent warned me that there might be "negative impacts". Legally it should not be the case as both options are listed in the contract.

So I have started negotiating, they offered a insignificant discount which is far from my expectation. This is a private matter so I won't disclose the figure here but I think it will be hard to find a common ground here.

 

[sanddy]

Hi Songsort! Full investment can not have negative impact on your application . If you will go for full investment your agent will not get commission or success fee from financial intermediary which will be approx 40-50 thsd USD that's why they are insisting you to go for finance option .

 

[Songsort]

Hi Songsort! Full investment can not have negative impact on your application . If you will go for full investment your agent will not get commission or success fee from financial intermediary which will be approx 40-50 thsd USD that's why they are insisting you to go for finance option .

Thank you sanddy, your post makes a lot of sense.
The 5 years mortgage rate in Canada is about 4.5%. Hence the Present Value of C$800,000 in Present Value of C$800,000 in 5 years is about C$640,000. Or the financial fee is C$160,000.

My agent is asking for a total fee of C$220,000, it looks like my agent expects a commission of C$60,000.

 

[Kashfool76]

Hi songsort! (Just my point of view) please see below the calculation:
800,000 CAD= 615000 USD @ 1USD 1.33( as on 10/04/2016)
800,000 CAD refund which you get after 5-6 years will be equivalent to =500,000 USD
( let say after 5 year in 2021 / 1USD=1.6.CAD) in that case you will loose 115,000 USD or 115,000 USD @1.6 CAD which will be equivalent to 184,000 CAD at that time moreover your's funds will be blocked for 5 years that's why I asked you to negotiate with your brocker it with around 190,000 CAD .If they agree than it is ok otherwise go for full payment .
Regards

Here comes time value of money and opportunity costs of blocked hard cash! That's a good point.

 

[deva3012]

My consultant said they have submitted by application to a financial broker for review / analysis and they eventually submitted my application to Quebec on 20 Mar 2015.

It's my first step on a long journey.
[/I too applied in March 2015 and waiting for next communication. I got the acknowledgment letter within a week of applying. Do you have any more input on this. Would appreciate. ]

 

[deva3012]

Hi Songsort

I am from Bombay. Infact, I applied the same day as you did (Mar 20, 2015). I haven't received any further communication from Quebec. Congratulations to you. Hopefully should be getting one shortly. Wish you all the best. Would appreciate your inputs on any update.

Regards




My agent is asking for a total fee of C$220,000, it looks like my agent expects a commission of C$60,000.
[/quote]

 

[Songsort]

Hi Songsort

I am from Bombay. Infact, I applied the same day as you did (Mar 20, 2015). I haven't received any further communication from Quebec. Congratulations to you. Hopefully should be getting one shortly. Wish you all the best. Would appreciate your inputs on any update.

Regards

Thank you deva3012, I do hope you would hear good news from Quebec soon. I am a bit lucky with my application, I guess. My agent did say that my application was put together well and they did not have to spend time on it.

I am considering the pros and cons of the two options, full investment or financial and still have time doing it. Maybe I am too cautious, but either ways, it is huge amount of hard earned money and huge amount of risks.

 

[sanddy]

Hi Songsort! I believe if you have sufficient funds for investment and financial intermediary do not want to negotiate (less than 220,000 CAD) than it will be better to go for full investment option , especially when you don't want to invest in shares or any business etc moreover deposit interest rates can't provide a good, short-term return. You can get mortgage even in Canada after landing maximum at 1.75-1.9% than I see no reason to pay 4% to financial intermediaries. Yes You are right it is a huge amount of hard earned money so you need to calculate each and every thing.
Regards

 

[nawabsaab]

Guys can you tell me how you have carried your funds for canada ?
what is difference between travel cheque and draft ? Which way is better ?

 

[Songsort]

Guys can you tell me how you have carried your funds for canada ?
what is difference between travel cheque and draft ? Which way is better ?

If would use bank transfer.

 

[nawabsaab]

If would use bank transfer.

YES i like that idea but i have to show funds on airport so :'( confused
draft cash cheque..... lil help