If you have experience running or investing in businesses, you may qualify to come to Canada as a Business immigrant. The Business Class Immigration Program seeks to attract people experienced in business in addition to attracting both capital and business skills to come to Canada.
This Business Immigration program was specifically developed for those individuals who have business expertise, entrepreneurial skills, successful experience and attainment in business, and who can invest in, start, or buy enterprises in Canada and contribute to support the development of a strong and prosperous Canadian economy.
There are three classes of business immigrants each with separate eligibility criteria:
In order to apply for a Canadian Visa, you must establish the correct immigration category for your circumstances. In addition, all business applicants are assessed against 5 criteria such as education, experience, age, language ability and adaptability and should obtain a minimum of 35 points out of 100 to qualify.
Business - Investor Program In order to meet the criteria as an immigrant investor, you must first meet the definition for an Investor and then obtain a minimum of 35 points in a selection grid intended to determine whether you will be able to become economically established in Canada.
The Immigrant Investor Program seeks to attract experienced business individuals and capital to Canada. This category is ideal for those who want to immigrate to Canada but who do not wish to be obligated to engage in any type of business / employment activity upon their arrival in Canada.
Investor applicants must have legally obtained a net worth of at least $800,000. They must also have either controlled a portion of the equity of a qualifying business, or been responsible for the management of the equivalent of at least five full-time jobs per year in a business.
As an investor, you must also agree to invest CDN $400,000 in a government administered program for five years. This investment is placed with the Receiver General of Canada and is used by the Government of Canada for job creation and economic development of the country. 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.
Quebec Immigrant applicants investing in the Quebec investor program must apply at a Quebec Immigration Office and obtain a Certificat de selection du Quebec (CSQ). Applicants investing in the Quebec investor program must intend to settle in Quebec.
Applicants must meet the category under the type of Business immigration definition
Successfully operated, controlled or directed a qualifying business; or managed five full time employees for two years in last five years
Minimum assets of CDN $800,000 which is legally accumulated
Have Three years of business or management experience
Indicates in writing that they intend to make or have made an investment of CDN $400,000 in a government administered program for five years
Be willing to invest $400,000 or an alternative option of investing $120,000 for a period of 5 years in a Government administered plan. Financing plans available with the possibility of a loan from a Canadian bank or Financial institution and the cost of interest will be around CDN $120,000
No conditions to be met
Investor Applicants must obtain a minimum of 35 points out of 100
Medical examination and security check
Processing delays of 14 to 30 months depending on the immigration office.
Financing Plans
Note: If you do not wish to liquidate your property and assets to make the regulatory deposit of $400,000 CDN, then this can be resolved through a financing plan.
Financing plans are available for the amount of $400,000 CDN. Funding plans are accessible with the option of a loan from a Canadian bank and the cost of interest will be around CDN $120,000. The Immigrant Investor deposits $120,000 CDN, borrows the remaining of the $280,000 CDN and nothing is paid back at the end of the term. This way you limit your total investment to just about $ 120,000 CDN rather than CDN $400,000 so as to meet the requirements of the Immigrant Investors Program.
Simply put, a Local Canadian Bank will finance your investment of CDN $400,000, which means the Bank pays the Government CDN$400,000 while you pay the Bank an estimated amount of CDN $120,000 towards fees & prepaid interests. This may vary according to Canadian interest rate fluctuations and the financial institution concerned. In effect the cost of the program would be about $120,000 CDN to the investor in the form of a down payment
We deal with various financial institutions and can assist you in obtaining an Immigrant investor loan towards the fulfillment of Investor requirements.
The Investor program is better suited for people who are obliged to constantly travel to and from Canada as soon as permanent residence is established and do not wish to be subjected to meeting various conditions & requirements as imposed by immigration authorities as is the case with the Entrepreneur program.
Business - Entrepreneur Program Entrepreneurs are described as individuals who have the intention and ability to establish, purchase or make substantial investment in a business venture that will contribute to the economy and create jobs in Canada.
Entrepreneurs must demonstrate their intention and ability to establish, takeover or invest in a business, which will make significant contribution to the economy of the country and maintain employment for at least one Canadian citizen or permanent resident, excluding the entrepreneur and his family.
In order to qualify as an entrepreneur, you must first meet the definition of an Entrepreneur and then obtain a minimum of 35 points in a selection grid intended to determine whether you will be able to become economically established in Canada.
Entrepreneur Class Criteria
Applicants must meet the category under the type of Business immigration definition
Successfully managed a qualifying business and controlled a percentage of equity for two years in last five years
Minimum net worth of CDN $300,000 which is legally accumulated
Two years of suitable business experience
Agree to control at least 33.33% of the equity of a qualifying Canadian business and provide active and ongoing management that will create at least one full-time job for Canadian citizens or permanent residents
Sufficient assets to establish or acquire a qualifying Canadian business for one year in first three years of business in Canada. Generally, has to invest a minimum amount ranging from $100,000 to $250,000. This is a condition
Qualifying Business has to meet 2 of the 4 bright light criteria based on Equity
Clear understanding of market and economic conditions in Canada
Business Plan and relevant documentation of venture required
Sign a statement that they intend and will be able to meet the conditions of Permanent residence
Entrepreneur applicants must obtain a minimum of 35 points
Medical examination and security check
Processing delays of 14 to 40 months depending on the immigration office
To qualify as an entrepreneur, you must have at least two years of business experience which means that you must have managed and controlled a percentage of equity of a qualifying business earlier and show a legally obtained net worth of at least CAN$300,000.
PERCENTAGE OWNERSHIP OF A BUSINESS
The following table sets out the minimum requirements for a Qualifying Business at various percentages of ownership.
ENTREPRENEUR CLASS – Qualifying Business Criteria
ATTRIBUTE
PERCENTAGE OWNERSHIP OF BUSINESS
100%
50%
20%
(i)
FULL-TIME EMPLOYEES
2
4
10
(ii)
SALES (CAD)
$500,000
$1,000,000
$2,500,000
(iii)
NET INCOME (CAD)
$50,000
$100,000
$250,000
(iv)
EQUITY (CAD)
$125,000
$250,000
$625,000
With respect to MANAGING A QUALIFYING BUSINESS, Entrepreneurs will be required to provide documentation proving that, within any two of the last five years, they controlled and managed a Qualifying Business that meets any two of the four defined attributes for full-time employees, sales, net income and equity held by them.
Entrepreneurial Terms and Conditions 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 where a minimum of one-third (1/3) ownership is required.
The following table sets out the minimum requirements for a Canadian Qualifying Business at various percentages of ownership.
Qualifying Canadian Business – Removal of Entrepreneur Terms and Conditions
ATTRIBUTE
PERCENTAGE OWNERSHIP OF BUSINESS
100%
50%
33.33%
(i)
FULL-TIME EMPLOYEES
2
4
6
(ii)
SALES (CAD)
$250,000
$500,000
$750,000
(iii)
NET INCOME (CAD)
$25,000
$50,000
$75,000
(iv)
EQUITY (CAD)
$125,000
$250,000
$375,000
Suppose that an individual successfully applies for and receives Canadian Permanent Residence as an Entrepreneur, he will be required to document that, he has operated a Canadian qualifying business for a period of at least one year within the period of three years after the day on which the entrepreneur becomes a permanent resident and has met any two of the defined attributes such as full time employees, sales, net income depending on the percentage of equity held in the Canadian qualifying business.
There are certain conditions that apply to Entrepreneur category applicants. They will have these conditions set forth on their immigrant visas where applicants will be required to prove to the Immigration Officials that they have invested or established a business, are involved in that business, and have created at least one other job for a Canadian citizen or permanent resident. Failure to satisfy these conditions within the three-year period after arriving can result in the removal of applicant and dependents from Canada.
Entrepreneur Applicant must be able to meet the following Conditions
Under the Entrepreneur Program, the principal applicant and his dependent spouse and children will receive a Conditional Permanent residence visa. They are admitted to Canada on the condition that they establish and actively manage a "Qualifying Canadian Business", in Canada, within three years of arrival.
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. In order to remove the conditions imposed on your visa an entrepreneur must prove that:
They have invested substantially in a business of at least 33.33% of equity
They are actively involved and participate in the management of business
They have created at least one job for a Canadian Citizen or Permanent Resident
They have met 2 of the 4 bright light criteria based on Equity in their business
Any Other conditions imposed by immigration officers such as Residency obligations
The Entrepreneur category is the only conditional Immigrant visa, where there are terms and conditions that must be met in order to retain their Permanent Resident Status after landing in Canada.
Entrepreneurial Monitoring Process The entrepreneur is required to report his progress to immigration officials on a regular basis during this three-year period and show that they have met these requirements for at least one year within three years of admittance to Canada. The process is as follows:
Mail in Card: Forward the Mail-in-Card to the concerned office in the area he resides as soon as he arrives or within 6 months with residential address and telephone number
Entrepreneur Monitoring Reports: This has to be completed between 18 – 24 months of landing in Canada which tracks the business activity of the entrepreneur as to whether he is establishing a qualifying Canadian business to meet the conditions of his permanent residency.
Application to Remove Entrepreneur conditions: This has to be sent in once the entrepreneur has satisfied and met all the regulatory conditions for at least one year within three years after the day he became a permanent resident.
If conditions are not met the entrepreneur is subject to enforcement action such as removal and deportation of applicant and family members. Once the terms and conditions are fulfilled and removed the applicant's visa is not subject to revocation and becomes unconditional and will have full Permanent residency rights.
Business - Self-Employed Program Self-employed persons must have the intention and ability to create their own employment that requires specific experience. They must be able to employ themselves and their family members and make a significant contribution to the economy or the cultural life in Canada.
To qualify, the applicant must demonstrate a sufficient financial net worth which should make possible the applicant to be self-employed in Canada and make a significant contribution to specified economic activities in Canada and to meet the initial settlement requirements for the applicant and accompanying dependants.
As a self-employed person, you must have relevant experience in cultural activities, athletics or farm management. You are expected to contribute to the cultural, artistic or athletic life of Canada. For instance: They may create their own employment by purchasing and managing a farm in Canada.
Apart from this, one has to show sufficient financial net worth to enable one to be self-employed in Canada and show at least two one-year periods of experience in their respective fields.
Self-employed Criteria
Applicants must meet the category under the type of Business immigration definition
Have self-employment experience for at least two years
Have a net worth of at least CDN $100,000 CDN or sufficient funds
Demonstrate that he/she has the intention and the means to establish or purchase a business that will provide for his/her own employment and thereby contribute in a significant manner to the economic, artistic or cultural life of Canada
The candidate must be in a position to prove that he/she will be able to generate a sufficient income from the business to provide for the candidate's own needs and for those who are dependent on him/her
Sufficient funds to support themselves and family members once in Canada.
No immigration conditions are imposed by CIC on this class.
Self Employed Applicants must obtain a minimum of 35 points in the selection grid
Pass Medical examination and security check
Only immigrants who have been self-employed in cultural activities or in athletics, or have participated at a world-class level in cultural activities or in athletics or have farm management experience are eligible within the class. Other business immigrants with more general business abilities will be required either to meet the Entrepreneur or Investor definitions, qualify as skilled workers, or to be selected as Provincial nominees in order to immigrate to Canada.
Selection Criteria
To be eligible for selection as a business immigrant, applicants must first meet the applicable business immigration definition of the class in which they are applying whether investor, entrepreneur or self-employed.
Business applicants are subsequently assessed against a modified selection system comprising of five selection criteria such as education, experience, age, language ability and adaptability. Applicants must obtain a minimum of 35 points out of 100 to qualify.
The selection factors and maximum points allocated are as follows:
Factors Assessed
Maximum Points
Education
25
Experience
35
Age
10
Proficiency in English and/or French
24
Adaptability
6
TOTAL
100
Regardless of category of business immigrant, an applicant must satisfy the visa officer that he or she meets the requirements of Canada's Immigration Act and Regulations for business immigrants under the modified selection grid comprising of 5 decisive factors. In addition, business immigrants must meet the additional requirements of the business immigrant category in which they are applying either as an Investor, Entrepreneur or Self employed person. [See:Business Class Comparison]
Quebec has its own business immigration program.[ See: Business Class Chart of Differences] In addition, many other Provinces provide valuable information and services to assist business immigrants in setting up and successfully operating businesses in Canada. You may also wish to visit the provincial or territorial web sites for more information under the Provincial Nominee Program. [See: PNPChart]
Business immigrants should visit Canada to explore commercial opportunity and gather first-hand knowledge about business in Canada. Applicants are encouraged to make “Exploratory visits” to Canada, during which time they should make a detailed study of the market and economic conditions related to their business venture in Canada.
QUEBEC The Quebec government and the Government of Canada have an agreement that allows Quebec to select immigrants who best meet its own immigration needs. Under the Canada-Quebec Accord on Immigration, Quebec is able to establish its own immigration requirements and select immigrants who will adapt well to living in Quebec.
Note: Please feel free to complete as many Online Assessment Questionnaires as you think applicable to your individual set of circumstances.
Due to the intricacy of business applications, we will not be able to do full analysis of your situation in the Free-of-charge assessment. You may still fill the questionnaire out but will find that vital information is missing from the assessment sheet. If you want to be assessed as a business immigrant, please do fill out the Assessment questionnaire as well as make prior arrangements with us for a Personal meeting to carry out a Full Appraisal of your candidature.
In order to apply for a Canadian Visa, you must establish the correct immigration category for your circumstances. Once you have become a client of the firm, we will assist you to establish which subcategory of the Business Class suits your qualifications and aspirations appropriately and choose the best fit that meets your objective of landing in Canada.
Come with us to study, work,do business and immigrate to Canada.
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