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Canada has one of the world's most comprehensive business immigration programs.
The point system assessment used for skilled worker applicants is only partly applied for business applicants.
The business program is divided into entrepreneurs, investors and self-employed individuals.
Qualifying Conditions for Entrepreneurs and Investors
For entrepreneurs and investors, business experience is an absolute essential criterion to determine if you are eligible for Canadian immigration. For self-employed individuals different qualifications apply.
What is business experience for entrepreneurs and investors?
Business experience is defined by one of two ways:
- You have either owned a qualifying business of sufficient
size
OR
- You have managed a business or a portion of a business
(without the need to run it) with at least five employees.
What is a Qualifying Business?
As an investor or entrepreneur, you will be required to provide documentation which proves that within two of the last five years you have owned and managed a business that meets any of two defined requirements with regards to jobs, sales, net income and equity.
For example, the following chart shows how your business can qualify.
All figures in Canadian dollars
| | OWNERSHIP |
|---|
| Attribute | 100% | 50% | 33.33% |
|---|
| Employment | 2 | 4 | 6 |
| Sales ($) | 500,000 | 1,000,000 | 1,500,000 |
| Net Income ($) | 50,000 | 100,000 | 150,000 |
| Equity ($) | 125,000 | 250,000 | 375,000 |
What is Management Experience?
If you have managed at least five individuals in a business over the last two of the five years prior to your application being filed, you could also qualify under the business program even though you have not owned the business yourself.
Specific Conditions for Entrepreneurs after entering Canada
Once you have qualified as an entrepreneur and entered Canada, the Visa issued to you is a Conditional Visa.
You must show Citizenship & Immigration that for at least one year out of three after you have landed in Canada, you have successfully owned and managed a qualifying Canadian business that meets any of the two defined requirements for job sales, net income and equity. The following chart sets out the chart for a qualifying Canadian business at various percentages of ownership.
| | OWNERSHIP |
|---|
| Attribute | 100% | 50% | 33.33% |
|---|
| Employment | 2 | 4 | 6 |
| Sales ($) | 250,000 | 500,000 | 750,000 |
| Net Income ($) | 25,000 | 50,000 | 75,000 |
| Equity ($) | 125,000 | 250,000 | 375,000 |
You must create at least one full-time equivalent job for someone other than yourself and/or your dependents.
Investors and entrepreneurs must first meet their respective definitions and then obtain a minimum number of points (to be set by the minister) according to the following assessment:
| Factor | Points |
|---|
| Business experience | 35 |
| Age | 10 |
| Education | 25 |
| English/French fluency | 24 |
| Business exploration trip to Canada within five years
of application | 6 |
| Participation in joint federal-provincial business immigration
initiative | 6 |
Investor Program
The Immigrant Investor Program (IIP) seeks to attract experienced businesspersons and capital to Canada.
The Canadian government's requirements for an investor are as follows:
- The investor must have operated, controlled or directed a financially successful business or commercial undertaking.
- The investor must have accumulated, by his/her own endeavours, a net worth of $800,000 Canadian.
- The investor must make an irrevocable investment of a minimum of $400,000 for at least five years which will contribute to the creation or continuation of employment opportunities for Canadian citizens or permanent residents other than the investor and his/her dependents.
All investments are to be made in projects which have been approved by the federal government in consultation with the particular province.
The investor does not have to settle in the province of investment.
Self-Employed
The self-employed category is reserved for those who are and have a proven ability and have the intention to make artistic, cultural or athletic contributions to Canada. In addition, farmers who have self-employed experience and intend to become self-employed in this avenue will be considered under the self-employed category.
Any other business immigrant with more generic business abilities will be required to either meet the entrepreneur or investor definitions, qualify as a skilled worker, or be selected as a Provincial Nominee.
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