By Anna Barella | CHOICE INVESTMENTS | www.adviseusa.com
Earlier this week the team at Choice Investments attended a business-networking event hosted by the Québec-Florida Chamber of Commerce. At the event, we met local business owners originally from Québec, Canada now doing business in Florida, and in some cases those who still operate a business back home. The Québec – Florida Chamber of Commerce offers local and Québec businesses a unique ability to grow their business both in Florida and Québec.
Each year, Florida welcomes over 800,000 snowbirds from Canada, and nearly a quarter of them hail from the Province of Québec. Every winter they typically spend anywhere between one and six months enjoying Florida’s beaches, shopping, dining and great weather. Many also invest in real estate, both residential and commercial properties.
Last year alone, Canadians contributed over $4 billion to Florida’s economy. Many choose to legally reside permanently in Florida, either by immigrating or opting for non-immigrant status such as the TN or E-2 visa. Should the US Government pass the Immigration Reform bill, many Canadians will be allowed to stay in the US for up to eight months out of the year.
The EB-5 Immigrant Investor Visa remains popular among Canadians wishing to permanently immigrate to the United States. By becoming a US permanent resident, the investor is able to take full advantage of business opportunities in the US and back in their native Canada. We saw first hand the success of Quebeckers creating a cross-border life for them self. Ultimately both the Province of Québec and the State of Florida benefit economically from entrepreneurial endeavors of the Québécois.
Kyle Barella, Esq.