The Business Immigration category objective is to achieve economic development and employment objectives in Canada for individuals with high levels of income and excellent business and entrepreneurial skills.
The Business Immigration in Canada Program has three categories such as Entrepreneurs, Investors, and the Self-employed category. Applicants fall under one of these three categories, depending on their business plans for Canada. There are various evidence and documentation that must be provided to the visa office, to support a foreign national business experience along with fundamental liquid asset base.
The Business Immigrant Program selection criteria are based on a point system and the pass mark for this criterion is 35 points. There are five (5) selection factors within the point system by which the Applicant is assessed, for example:
Business Experience (maximum of 35 points) – the amount of business experience the Applicant has obtained beginning five years prior to the date of application.
Age (maximum 10 points) – The current age of the Applicant. The ideal age is between twenty-one and forty-nine (21-49) years.
Education (maximum 25 points) – The highest level of education attained, and the total number of years of education by the Applicant.
Language Ability (maximum 24 points) – The Applicant’s ability to speak, listen, write, and read in either one or both of Canada’s official languages – English or French. Please note that if the Applicant claims points under the language factor, proof of language proficiency must be provided.
Adaptability (maximum 6 points) – The elements for receiving points under this factor vary depending on the category chosen.
The entrepreneur class seeks to draw experienced business persons who are able create or purchase and actively manage a qualifying business in Canada .Business experience is an important indicator of the Applicant’s intent and ability to perform in Canada. In order to meet this requirement, the Applicant must show they have managed a Qualifying Business and controlled a percentage of equity of a Qualifying Business for at least two years in the period beginning five years prior to the date of application.
Determining Whether an Applicant Qualifies:
- Net worth (minimum of CDN$300,000.00);
- Past and present fields of activity;
- Level of expertise;
- Specialized business training;
- Standing and recognition in the business community;
- Market research;
- Exploratory visits to Canada;
- Preparation for the move to Canada;
- Educational background;
- Memberships in professional associations;
- Official language proficiency;
- Ownership of assets in Canada;
- Relatives in Canada; and
- Other knowledge of Canada or connections with Canada.
The Entrepreneur must also control and actively manage a Qualifying Canadian Business for a period of one year, within three years of coming to Canada, and the business must employ at least one Canadian citizen or permanent resident (other than the entrepreneur dependents).
A qualifying business is a business that was not operated solely for the purpose of earning investment income (i.e. interest, dividends or capital gains). The Entrepreneur must show that in any year within the three year period after they became a Permanent Resident that:
The percentage of equity multiplied by the number of full-time job equivalents is equal to or great than two full-time job equivalents per year;
That the percentage of equity multiplied by the total annual sales is equal to or great than CDN$250,000.00;
That the percentage of equity multiplied by the net income in the year is equal to or greater than CDN$25,000.00; and
The percentage of equity multiplied by the net assets at the end of the year is equal to or greater than CDN$125,000.00.
The investor category looks to attract experiences business persons who are able to make a substantial monetary investment in Canada. Investors must have successfully operated, directed or controlled a Qualifying Business, and have an accumulated net worth of at least CDN$800,000.00. The Federal Investor Program is for those Applicants who plan to live in a province or territory other than Quebec. If an Investor wishes to reside in Quebec, they should apply directly under the Quebec Immigrant Investor Program.
The Investor participating in either of the Federal Investor or Quebec Investor Programs, will be required to invest CDN$400,000.00, that will be allocated to participating provinces and territories in Canada. These governments use the income to generate business in Canada. There is no day-to-day work required to support the investment, and no conditions are attached to the Permanent Resident (unlike the Entrepreneur category). The full amount is guaranteed by the participating provinces and territories and is returned to the Investor after five (5) years without interest.
Self-employed Applicants must either purchase or establish a business in Canada in which they themselves will be employed. Applicant under this program are required to show all documents relating to the money that they have earned from their previous engagements as well as the taxes that have been paid.
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