The stated goal of Canada Business Immigration Program is to promote economic development and employment by attracting investors, entrepreneurs and self-employed individuals from outside Canada with venture capital, business acumen and entrepreneurial skills. The Canadian business immigration programs also seek to develop new commercial opportunities and improve access to growing foreign markets by welcoming people who are familiar with those markets and their special requirements and customs. Individuals with business/managerial experience and relatively high net worth may be eligible to apply for a Canada Immigration (permanent resident) Visa under one of the Canadian business immigration programs under one of the following three sub-categories:
Entrepreneur Start-up Visa Program:
The entrepreneur program is designed for applicants who wish to open or control a percentage of a Canadian business. Start-Up Visa Entrepreneurs must secure funding and support from a designated Canadian investment organization. To do so, they must have a plan for a unique business that will be created in Canada.
Entrepreneur applicants must have a net worth of at least CAD $300,000. In addition, they must have previously managed and controlled a percentage of equity of a qualifying business for at least two years within the five years before the date of the business immigration application. Furthermore, once in Canada, entrepreneur immigrants must own and actively manage a business in Canada that will contribute to the Canadian economy and job market.
Features of the Entrepreneur Program There are immigration conditions imposed upon admission into Canada. Within three years of becoming a permanent resident, the entrepreneur must have:
- Controlled and actively managed a qualifying Canadian business for a period of at least one year
- Created employment opportunities through their Canadian business for others
- The conditions are removed once they have been satisfied by the entrepreneur
Immigrant Investor Venture Capital Pilot Program
To qualify, investors are required to have a net worth of $10 million and make a non-guaranteed investment of $2 million over 15 years, to be invested in innovative Canadian-based start-ups with high growth potential. To meet the business experience requirements, in the period beginning five years before the date of application, the investor must have either:
- managed and controlled a qualifying business of sufficient size; or
- managed at least five full-time equivalents per year in a business
Features of the Investor Program:
- Investors do not have to start a business in Canada
- Investors are fully guaranteed by the Canadian Government
- No immigration conditions are imposed upon arrival in Canada
Self-Employed Persons Program
To qualify as a self-employed person, an individual must be willing and able to support him/herself and any dependents with a self-employed income as a farmer, athlete, or artisan. Applicants to the Self-employed Persons Program must intend and be able to generate their own employment while simultaneously making a significant contribution to the cultural, artistic, athletic, and/or agricultural life of Canada. Applicants must have a significant amount of experience (2+ years) in an area relevant to their application in the five years before they apply.
Self-Employed applicants are only eligible for this program if they have been self-employed in cultural activities and/or athletics, or have participated at a world class level in cultural activities or in athletics, or have farm management experience.
What documents are required for or check your eligibility for Business Immigration?
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