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Canada's Business Migration Program seeks to promote economic development and employment by attracting people with venture capital, business acumen and entrepreneurial skills.
The main objective is to promote and facilitate the migration of experienced businesspeople from abroad, which will make a positive contribution to the Canadian economy. Canada has three (3) types of business migrants:
- Investors,
- Entrepreneurs, and
- Self-Employed people.
Current processing guidelines encourage immigration officers to review a number of indicators to ascertain your ability which include: net assets, past and present fields of activity, level of expertise, current and prior standing in the business community, recognition for business achievements, ownership of intellectual property, educational background, specialized business training, memberships in professional associations, market research, exploratory visits to Canada, preparation for the move to Canada,
education in Canada, proficiency in one of Canada's official languages, ownership of assets in Canada, relatives in Canada, and other knowledge of Canada or connections with Canada.
You must also possess sufficient personal net assets to comply with the requirement to control a percentage of the equity of a qualifying Canadian business and related settlement undertakings.
Investor Class
The Investor class seeks to attract experienced businesspeople and capital to Canada. Investors must demonstrate business experience and Canada Immigration Regulations define you as an investor if you:
- have successfully operated, managed or directed a business;
- have made a minimum investment CAD$ 400.000 (in an approved fund) since the date of the investor's application for migration as an investor;
- have acquired a minimum net assets of at least CAD$ 800,000.00 through personal business endeavours
In the ownership option, you will be required to provide documentation, proving that, within any two (2) of the last five (5) years, you controlled and managed a Qualifying Business that meets any two (2) of the defined requirements/attributes for full-time (37.5 hours per week or more) employees, sales, net income and equity.
Alternatively you may qualify by providing documentary proof that, over any two (2) of the last five (5) years, you had managed at least five (5) full-time (37.5 hours per week or more) employees in a business.
The Investor class is point based and confers permanent residence if you demonstrate an ability to become economically established in Canada on the basis of your business or management experience and high personal net assets.
Investment has to be made prior to approval of immigration case and provinces and territories secure the investment. If you wish to take part in the investor immigration program you may live anywhere in Canada and this is not determined by the location of your investment.
Entrepreneur Class
The objective of this category is to bring business development ability, thereby contributing to the economy of Canada and creating job opportunities. Your venture must make significant contribution to the economy and must result in creation or maintenance of employment opportunities. On the other hand, your direct involvement in business management may facilitate your swift integration into society and adaptation to the new environment.
You must have the intention and ability to establish, purchase or make a substantial investment in a business in Canada that will contribute significantly to the economy and create jobs. You can be successful if you:
- managed a qualifying business and have controlled a percentage of equity of the qualifying business for at least two years in the period beginning five years preceding the application;
- possess personal net assets of $300,000 and
- undertake to control a percentage of the equity of a qualifying Canadian business and provide active and ongoing management of the qualifying Canadian business that will create at least one incremental full-time job for Canadian citizens or permanent residents, other than the entrepreneur and their family members.
In this category you must prove that you have enough capital to establish a business, cover its short-term operating costs and support your dependants. The Entrepreneur class is point based and confers permanent residence if you demonstrate an ability to become economically established in Canada on the basis of your business experience and personal net assets. Unlike Investors, the only way in which an Entrepreneur can demonstrate business experience is through management and control of a qualifying business
of sufficient size.
You must have experience in business administration and have substantial assets.
You must intend and have the ability to provide active and on-going participation in the management of the business or commercial venture. If you enter into a business partnership you must own no less than 25% of the shares. The amount of investment required is usually around CAD$ 150,000.
Self Employed Class
The Self-Employed program adopts a set of selection criteria, which draws reference to that of the independent category. You must prove to the immigration officer that you are a successful professional, whether owner of a small business, writer, artist or musician. You must be able to convince the officer that you are capable of establishing a business for self-employment.
Applicants of this class are mainly small business operators, professional sportsmen, actors or artists. If you are farm owner or outstanding small businessperson you may also apply if you have a demonstrated ability to be successfully self-employed.
There is no specific capital requirement for self-employed applicants. Usually it is between CAD$ 50,000.00 and $100,000.00. You are not subject to any conditions, but your personal qualifications are very important. For business purposes, your English skills must be very good.
As a self-employed migrant you must establish or purchase a business in Canada that will keep you employed and contribute significantly to Canada's economy or cultural or artistic life (for example, professional athletes, artists, actors, farmers, or writers). |