Every year Canada welcomes thousands of new residents as business immigrants. Under the Federal Business immigration Program a businessperson can invest in or start business anywhere in Canada and is expected to support the development of strong and prosperous economy.
Canada has three classes of Business Immigrants:
- Investors (Put under temporary moratorium)
- Entrepreneurs (Put under temporary moratorium)
- Self-Employed
Investor
The Immigrant Investor Program seeks to attract experienced business people to invest in Canada’s economy. Canada intends to increase the investment to keep pace with the changing global economy and continue Canada’s program competitive.
Effective July 1, 2012, the Citizenship and Immigration Canada (CIC) has put a temporary moratorium on the Immigrant Investor Program. CIC has also announced plans to overhaul the investor program and re-introduce it with new reforms. According to CIC, applicants who had applied under this program should hold on their applications and reapply once new regulations come into force. The Immigration Department is also consulting on whether to create a new investor program on a short-term basis, which will be announced in the coming months.
Canada Federal Entrepreneur Program
- Entrepreneur : With effect from July 1, 2011, CIC has announced a temporary moratorium till further notice on the Federal Entrepreneur applications, to improve the wait times of the program. It is further anticipated that the Federal Entrepreneur program is expected to undergo a review in the coming months.
The Entrepreneur Program seeks to attract experienced businesspersons, who would own and actively manage businesses in Canada, which will contribute to the Canadian economy and create jobs there. They must have a net worth of legally acquired Cdn$3, 00,000 (including spousal assets). Entrepreneurs and their dependents are admitted to Canada under specific conditions and thereafter, are subsequently monitored by Citizenship and Immigration Canada (CIC) after landing.
The entrepreneur program Seeks to attract experienced businessperson, who would own and actively manage businesses in Canada, which will contribute to Canadian economy and create jobs there.
You can qualify as an entrepreneur if you: –
- Have a net worth of legally acquired Cdn$3, 00,000(including spousal assets).
- Show that you have business experience.
- Establish or acquire a percentage of equity (at least 33.33%) in a qualifying Canadian business that you must actively manage.
- Create at least one new job for a Canadian citizen or permanent resident.
- Abide by the conditions of entrepreneurs even after arriving in Canada
Under entrepreneur program, you and your family member would get Canadian Permanent Residency and you can live anywhere in Canada except Quebec.
Quick details of eligibility Entrepreneur category
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Parameters Criteria Investment Anywhere in Canada, except Quebec Net worth Legally acquired CDN$300,000 Business Experience Management and ownership of a qualifying business as defined under the regulations Miscellaneous Medical examination and security background check
Canadian Federal Self –employed Program
- Self-Employed : Self-employed persons must have the intention and ability to create their own employment and make a significant contribution to the cultural, artistic or athletic fields in Canada or to create their own employment by purchasing and managing a farm in Canada. Previous self-employed experience in two years out of the last five years is required for determining the eligibility.
Self-employed persons must have the intention and ability to create their own employment and make significant contribution to the cultural, artistic or athletic fields in Canada to create their own employment by purchasing and managing a farm in Canada.
Relevant minimum of two years of experience, during the period beginning five years before the date of application for a permanent resident visa and ending on the day a decision made on the application.
The experience must consist of qualifying activities
- In respect of cultural activities
Two one-year old periods of experience in self –employment in cultural activities or
Two one-year of experience in participation at a world class level in cultural activities, or
A combination of a one year period of experience described in (A) above and a one-year period of experience described in (B) above
- In respect of cultural activities
Two one-year old periods of experience in self –employment in athletics or
Two one-year of experience in participation at a world class level in athletics, or
A combination of a one year period of experience described in (A) above and a one-year period of experience described in (B) above
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In respect of the purchase and management of a farm, two-one year old periods of experience in the management of a farm
Applicants must also meet the other eligibility criteria based on point system .You must score a minimum of 35 points if you want to immigrate to Canada as a self employed person.