The Business Immigration Program is a category of
immigration under which individuals with business/managerial
experience and relatively high net-worth may apply
for Canadian permanent resident status. There are
three sub-categories under the Business Immigration
Program: Investors, Entrepreneurs and Self-Employed
Immigrants.
Q:What documents must Business Immigration
Program applicants submit?
Ans: In addition to government application
forms, education-related and statutory documents (passports,
birth certificates, etc.), Business Immigration Program
must submit documents evidencing business and/or managerial
experience, as well as documents evidencing net worth.
Q:As a Business Immigration Program Applicant,
am I required to live in the province, which I originally
indicated as my intended destination?
Ans: When you become a permanent resident,
you may live, work and engage in business activities
in any Canadian province or territory.
Q:How can I qualify as an Immigrant Investor?
Ans: As an Immigrant Investor planning to
reside anywhere in Canada, except Quebec, you must:
- Have a net worth of at least CAD$800,000 gained
through your own endeavors;
- Invest CAD$400,000 for five years with Citizenship
and Immigration Canada which acts as agent on behalf
of provincial and territorial investment funds;
and
- Have successfully operated, controlled or directed
a business or managed a minimum of 5 employees for
a period of 2 years.
Q:How can I, as an Immigrant Investor, prove
that I earned my minimum net worth “by legitimate
endeavors”?
Ans: Immigrant Investor applicants must demonstrate
the origin and accumulation of their wealth through
reliable, third party documentary evidence: tax returns,
pay stubs, deeds of purchase/sale, statements from
stockbrokers, business/real estate valuations, etc.
An applicant must be able to demonstrate that assets
were gained through means, which are considered legal,
including gifts or inheritances.
Q:As an Immigrant Investor, will I be obliged
to work and/or engage in business activities in Canada?
Ans: While an Immigrant Investor
is entitled to engage in work and business activities
upon arrival in Canada, there is absolutely no obligation
to do so.
Q:When do I, as an Immigrant Investor, commit
my investment amount?
Ans: You must commit your CAD$400,000 investment
amount before final approval from Federal or Quebec
Immigration officials, as the case maybe.
Q:What happens to my investment amount if
my Immigrant Investor application is refused?
Ans: If your intended destination in Canada
is outside Quebec, your investment will be promptly
refunded. If you intend to reside in Quebec and you
have deposited your investment in a government approved
immigrant investment program you must make sure that
your investment is not locked-in until you land in
Canada. Your investment cannot be refunded for five
years once it has been locked in.
Q:How can I qualify as an Immigrant Entrepreneur?
Ans: To qualify as an Immigrant Entrepreneur,
you must:
-
Have successfully managed a
commercial enterprise (or a part of a commercial
enterprise);
-
Have sufficient assets to establish
or acquire a business in Canada;
Establish, invest in or acquire a business in Canada
within two years of arrival; and
-
Actively participate in the
management of the business (the business must employ
at least one Canadian citizen or permanent resident,
other than yourself and your dependents).
Q:Is there any minimum net worth requirements
for Immigrant Entrepreneurs?
Ans: The minimum requirement is CAD$300,000
(approximately US$135,000), plus sufficient settlement
funds. In all cases, the nature and location of your
proposed business will determine the net worth required
to qualify.
Q:What are the terms and conditions of the
Entrepreneur Visa?
Ans: An Immigrant Entrepreneur must, within
two years of landing in Canada, establish, purchase,
or make a substantial investment in a business in
Canada so as to make a significant contribution to
the economy. Active and on-going participation in
the management of the business is required, and employment
opportunities must be created or continued for one
or more Canadian citizens or permanent residents,
other than the Immigrant Entrepreneur and the Immigrant
Entrepreneur's dependents. Efforts to comply with
these terms and conditions must be demonstrated to
immigration official throughout the two-year period.
Entrepreneurs will be required to report their progress
to immigration officials on a regular basis during
this two-year period.
Q:Must I, as an Immigrant Entrepreneur applicant,
make an exploratory visit to Canada during the immigration
process?
As an Immigrant Entrepreneur you are encouraged
to make an exploratory visit to Canada to properly
assess the business environment of the area in which
you intend to locate.
Q:Must I, as an Immigrant Entrepreneur applicant,
submit a detailed business plan?
Ans: A detailed business plan is not required.
In most cases, a shorter informal business proposal
will suffice – an outline of the type of business
and the general plans for its operation.
Q:As an Immigrant Entrepreneur, will I be
permitted to change my business plan?
Ans: After landing in Canada, you may find
that the local economic climate does not lend itself
to the type of business plan originally proposed.
In such cases, you are well advised to modify your
business plan. However, a meeting with immigration
official should be held to ensure that the new business
is acceptable.
Q:What happens if I fail to meet the terms
and conditions of my Immigrant Entrepreneur visa?
Ans: Immigrant Entrepreneurs who fail to
satisfy the terms and conditions of their visa may
be ordered to leave Canada.
Q:How can I qualify as a Self-Employed Immigrant?
Ans: To qualify as a Self-Employed Immigrant,
you must demonstrate an intention and ability to establish
or purchase a business in Canada that will keep you
employed and make a significant contribution to the
economy or the cultural or artistic life of Canada.
The business must generate sufficient revenues to
support you and your dependents. Farmers, artisans,
sports personalities, actors, consultants, and operators
of small business outlets that may be in demand in
outlying communities are examples of the applicants
who may qualify. Assessment in this category is based
on:
-
Business ability and experience
(when applying under the economic contribution component
of the Self-Employed Immigrant description);
-
Farming, athletic (at a world
level) or artistic qualifications; and
-
Net worth (sufficient to establish/purchase
the proposed business).
Q:Must I, as a Self-Employed Immigrant,
make an exploratory visit to Canada during the immigration
process?
Ans: As a Self-Employed Immigrant you are
encouraged to make an exploratory visit to Canada
to properly assess the business/cultural/artistic
environment of the area in which you intend to locate.
Q:Is there any minimum net worth requirements
for Self-Employed Immigrants?
Ans: The net worth requirement for Self-Employed
Immigrants varies depending on the nature and location
of the proposed venture.
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