Business/ Investor Class Immigration Overview
Business Immigration to Canada remains a viable Immigration option for those individuals who do not otherwise qualify for Immigration to Canada in the Independent/Skilled Worker Class. It is attractive because Canada has a robust economy and is resource rich with a strong and skilled labour force. Of course, an additional advantage to conducting business in Canada is the relative proximity of the United States, which is the largest trading partner of Canada and whose population are huge consumers of goods and services produced in and emanating from Canada.
Business Immigration to Canada was conceived as a means of promoting economic development and employment in Canada by attracting people for Immigration to Canada with venture capital, business acumen and entrepreneurial skills, who can invest in, start, or buy enterprises in Canada and are expected to support the development of a strong and prosperous Canadian economy.
Business Investor/ Entrepreneur/ Self Employed Program Details
As an investor, you must make a prescribed investment of CDN $800,000. This investment is placed with the Receiver General of Canada. Participating provinces then use your investment to create jobs and help their economies grow. Citizenship and Immigration Canada (CIC) will return your investment to you, without interest, in approximately five years after you become a permanent resident.
“Investor” means a foreign national who:
- has business experience;
- has a legally obtained net worth of at least CDN $1,600,000; and
- indicates in writing to an officer that they intend to make or have made an investment.
To qualify as an entrepreneur, you must have business experience. This means that you must have managed and controlled a percent of equity of a qualifying business. Entrepreneurs must have a legally obtained net worth of at least CDN $300,000.
When you immigrate to Canada as an entrepreneur, you must have the intention and the ability to control a percentage of equity of a qualifying Canadian business. You must provide active and ongoing management of the qualifying Canadian business. Your business must create at least one new full-time job for a Canadian citizen or permanent resident. You must meet these requirements within three years of becoming a permanent resident.
Before your immigrant visa is issued, you are required to sign a statement that you intend and will be able to meet the conditions of permanent residence.
Requirements: “Entrepreneur” means a foreign national who
- has business experience;
- has a legally obtained minimum net worth; and
- provides a written statement to an officer that they intend to and will be able to meet the conditions referred to in subsections 98(1) to (5).
As a self-employed person, you must have relevant experience in cultural activities, athletics or farm management. You must also have the intention and ability to establish a business that will, at a minimum, create employment for yourself. You must make a significant contribution to cultural activities or athletics or purchase and manage a farm in Canada.
No immigration conditions are imposed on this class. You must have enough money to support yourself and your family members after you arrive in Canada.
“Self-employed person” means a foreign national who has relevant experience and has the intention and ability to be self-employed in Canada and to make a significant contribution to specified economic activities in Canada.
“Relevant experience” in respect of a self-employed person, means at least two years in the period beginning five years before the date of application for a permanent resident visa and ending on the day a determination is made in respect of the application, in one of the following types of experience:
- self-employment in cultural activities or in athletics, or participation at a world-class level in cultural activities or athletics, or farm management experience,
- “Specified economic activities” in respect of a self-employed person, means cultural activities, athletics or the purchase and management of a farm.
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