immigration to Canada under business class immigration as investor or entrepreneur
Investors
- show that they have business experience;
- have a minimum net worth of CAN $800,000 that was obtained legally; and
- make a CAN $400,000 investment.
Your investment is managed by Citizenship and Immigration Canada (CIC) and is guaranteed by the Canadian provinces that use it to create jobs and help their economies grow.
CIC will return your $400,000 investment, without interest, approximately five years and two months after payment.
Entrepreneurs
The Entrepreneur Program seeks to attract experienced business persons who will own and actively manage businesses in Canada that contribute to the economy and create jobs. Entrepreneurs must:
- Show that they have business experience;
- Have a minimum net worth of CAN $300,000 that was obtained legally; and
- Respect the conditions for entrepreneurs after they arrive in Canada.
Here is a list of resources which will assist you with matters relating to immigrating to canada:
- Citizenship and Immigration Canada: www.cic.gc.ca
- Canadian Citizenship Practice test: www.yourlibrary.ca/citizenship
- www.cic.gc.ca/english/immigrate/business/index.asp
British Columbia's Provincial Nominee Program and
Business Immigration for British Columbia
Suite 730, World Trade Centre
999 Canada Place
Vancouver, British Columbia V6C 3E1
Tel.: (604) 775-2227
Fax: (604) 660-4092
E-mail: info@pnp.gov.bc.ca
Provincial Nominee program: www.pnp.gov.bc.ca
Business Immigration for BC:
http://www.cse.gov.bc.ca/PNP/BI/Pages/default.aspx
Investors: Definitions
In order to qualify, you must first meet the definition of an investor. The following terms are defined in the regulations:
- Investor
- Business experience
- Full-time equivalent
- Minimum net worth
- Net assets
- Net income
- Net worth
- Percentage of equity
- Qualifying business
Investor means a foreign national who
1. has business experience;
2. has a legally obtained net worth of at least CAN $800,000; and
3. indicates in writing to an officer that they intend to make or have made an investment.
Business experience in respect of
1. an investor, other than an investor selected by a province, means a minimum of two years of experience consisting of
1. two one-year periods of experience in the management of a qualifying business and the control of a percentage of equity of the qualifying business during the period beginning five years before the date of application for a permanent resident visa and ending on the day a decision is made on the application; or
2. two one-year periods of experience in the management of at least five full-time job equivalents per year in a business during the period beginning five years before the date of application for a permanent resident visa and ending on the day a decision is made on the application, or
3. a combination of a one-year period of experience described in subparagraph (i) and a one-year period of experience described in subparagraph (ii);
Full-time job equivalent means 1,950 hours of paid employment.
Minimum net worth means that the investor must have at least $800,000 to qualify as an Immigrant Investor.
Net assets, in respect of a qualifying business or a qualifying Canadian business, means the assets of the business, minus the liabilities of the business, plus shareholder loans made to the business by the foreign national who is making or has made an application for a permanent resident visa and their spouse or common-law partner.
Net income, in respect of a qualifying business or a qualifying Canadian business, means the after tax profit or loss of the business plus remuneration by the business to the foreign national who is making or has made an application for a permanent resident visa and their spouse or common-law partner.
Net worth, in respect of an investor, other than an investor selected by a province, means the fair market value of all of the assets of the investor and their spouse or common-law partner minus the fair market value of all of their liabilities;
Percentage of equity means
1. in respect of a sole proprietorship, 100 per cent of the equity of the sole proprietorship controlled by a foreign national or their spouse or common-law partner;
2. in respect of a corporation, the percentage of the issued and outstanding voting shares of the capital stock of the corporation controlled by a foreign national or their spouse or common-law partner; and
3. in respect of a partnership or joint venture, the percentage of the profit or loss of the partnership or joint venture to which a foreign national or their spouse or common-law partner is entitled.
Qualifying business means a business—other than a business operated primarily for the purpose of deriving investment income such as interest, dividends or capital gains—for which, during the year under consideration, there is documentary evidence of any two of the following:
1. the percentage of equity multiplied by the number of full-time job equivalents is equal to or greater than two full-time job equivalents per year;
2. the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000;
3. the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000; and
4. the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000
Source: www.cic.gc.ca/english/immigrate/business/investors/definitions.asp
Entrepreneurs: Definitions
In order to qualify, you must first meet the definition of an entrepreneur. If your application is accepted you must also comply with the conditions for an entrepreneur after arriving in Canada.
Definitions
The following terms are defined in the regulations:
- Entrepreneur
- Business experience
- Full-time equivalent
- Minimum net worth
- Net assets
- Net income
- Net worth
- Percentage of equity
- Qualifying business
- Qualifying Canadian business
Entrepreneur means a foreign national who
1. has business experience;
2. has a legally obtained minimum net worth of $300,000; and
3. provides a written statement to an officer that they intend and will be able to meet the conditions listed at the bottom of this page
Business experience in respect of an entrepreneur, means a minimum of two years of experience consisting of two one-year periods of experience in the management of a qualifying business and the control of a percentage of equity of the qualifying business during the period beginning five years before the date of application for a permanent resident visa and ending on the day a decision is made on the application.
Full-time job equivalent means 1,950 hours of paid employment.
Minimum net worth means in respect of an entrepreneur, $300,000.
Net assets, in respect of a qualifying business or a qualifying Canadian business, means the assets of the business, minus the liabilities of the business, plus shareholder loans made to the business by the foreign national who is making or has made an application for a permanent resident visa and their spouse or common-law partner.
Net income, in respect of a qualifying business or a qualifying Canadian business, means the after tax profit or loss of the business plus remuneration by the business to the foreign national who is making or has made an application for a permanent resident visa and their spouse or common-law partner’s income.
Net worth, in respect of an entrepreneur, means the fair market value of all of the assets of the entrepreneur and their spouse or common-law partner minus the fair market value of all of their liabilities.
Percentage of equity means
- in respect of a sole proprietorship, 100 per cent of the equity of the sole proprietorship controlled by a foreign national or their spouse or common-law partner;
- in respect of a corporation, the percentage of the issued and outstanding voting shares of the capital stock of the corporation controlled by a foreign national or their spouse or common-law partner; and
- in respect of a partnership or joint venture, the percentage of the profit or loss of the partnership or joint venture to which a foreign national or their spouse or common-law partner is entitled.
Qualifying business means a business—other than a business operated primarily for the purpose of deriving investment income such as interest, dividends or capital gains—for which, during the year under consideration, there is documentary evidence of any two of the following:
- the percentage of equity multiplied by the number of full-time job equivalents is equal to or greater than two full-time job equivalents per year;
- the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000;
- the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000; and
- the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000.
Qualifying Canadian business means a business operated in Canada by an entrepreneur—other than a business operated primarily for the purpose of deriving investment income, such as interest, dividends or capital gains—for which there is in any year within the period of three years after the day the entrepreneur becomes a permanent resident documentary evidence of any two of the following:
- the percentage of equity multiplied by the number of full-time job equivalents is equal to or greater than two full-time job equivalents per year;
- the percentage of equity multiplied by the total annual sales is equal to or greater than $250,000;
- the percentage of equity multiplied by the net income in the year is equal to or greater than $25,000; and
- the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000.
Conditions
Entrepreneurs must comply with the following conditions:
- Permanent residence
- Conditions — par. 9(1)(d) of the Act
- Applicable time
- Evidence of compliance
- Report and evidence of efforts to comply
- Family members
Permanent residence
An entrepreneur who becomes a permanent resident must meet the following conditions:
- the entrepreneur must control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 per cent;
- the entrepreneur must provide active and on-going management of the qualifying Canadian business; and
- the entrepreneur must create at least one incremental full-time job equivalent in the qualifying Canadian business for Canadian citizens or permanent residents, other than the entrepreneur and their family members.
Conditions
Note: Quebec has its own business immigration program, and has set different conditions that entrepreneurs must meet. The conditions listed above do not apply to entrepreneurs selected by Quebec. Visit the Quebec Immigration web site for more information on immigrating to Quebec. You will find a link in the Related Links section on the bottom of this page.
Applicable time
The entrepreneur must meet the conditions 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.
Evidence of compliance
An entrepreneur who becomes a permanent resident must provide to an officer evidence of compliance with the conditions within the period of three years after the day on which the entrepreneur becomes a permanent resident.
Report and evidence of efforts to comply
You must report regularly to an officer at a Citizenship and Immigration Office. Contact the CIC Call Centre (see “Contact Us” at the top of this page) for the location of the CIC Centre nearest to you.
- Within six months of becoming a permanent resident, you must notify CIC of your address and telephone number.
- Within 18 to 24 months of becoming a permanent resident, you must provide evidence of your efforts to meet the conditions of the Entrepreneur Program.
- Within three years of becoming a permanent resident, you must prove that you have met the conditions of the Entrepreneur Program.
Family members
The family members of an entrepreneur are subject to the condition that the entrepreneur meets the conditions set out in this section.
Source: www.cic.gc.ca/english/immigrate/business/entrepreneurs/definitions.asp
This is not an offer nor a guarantee or promise of citizenship and/or entry in to Canada. You will need to satisfy yourself as to all the details concerning entry in to Canada, preferably by hiring a qualified immigration lawyer and business advisor. The material on this page is merely a suggestion for possible immigration to Canada under the business category.
