Entrepreneurs Visa to Canada

NOTE: ENTREPRENEUR PROGRAM IS CLOSED BY FEDERAL GOVERNMENT.

 

ENTREPRENEUR means a foreign national who

  1. has business experience;
  2. has a legally obtained minimum net worth; and (AT LEAST $ 300,000)
  3. provides a written statement to an officer that they intend and will be able to meet the condition that for the period of at least one year within a period of not more than three years after the day that the entrepreneur becomes a permanent resident they intend and will be able to-
    1. control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 percent
    2. provide active and ongoing management of the qualifying Canadian business and
    3. create at least one incremental full-time job equivalent in that business for Canadian citizens or PR, other than the entrepreneur and their family members.

1. Minimum net worth means- in respect of an entrepreneur, other than an entrepreneur selected by a province, $ 300,000

Business experience means, in respect of entrepreneur, other than a entrepreneur selected by a province, 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 PR visa and ending on the day a determination is made in respect of the application.
qualifying business"( i.e. before making application) 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;  (i.e. if applicant owns 100 % of business then- 2 workers, if owns 50% then 4 workers)
  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.

Simple way-
Percentage of equity in a qualifying business

ATTRIBUTE % OF EQUITY
100% 50% 33.33%
Employment 2 4 6
Total annual sales ($) 500,000 1,000,000 1,500,000
Annual net Income ($) 50,000 100,000 150,000
Net assets at Year end 125,000 250,000 375,000

QUALIFYING CANADAIAN BUSINESS-( REQUIREMENT AFTER GETTING CONDITIONAL PERMANENT RESIDENCY AND TO GET FULL PERMANENT RESIDENCY)

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:

  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 $250,000;
  3. the percentage of equity multiplied by the net income in the year is equal to or greater than $25,000; 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.

SIMPLY-
Percentage of equity in a qualifying business

ATTRIBUTE % OF EQUITY
100% 50% 33.33%
Employment 2 4 6
Total annual sales ($) 250,000 500,000 750,000
Annual net Income ($) 25,000 50,000 75,000
Net assets at Year end 125,000 250,000 375,000

Permanent residence

  1. An entrepreneur who becomes a permanent resident must meet the following conditions:
  2. the entrepreneur must control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 per cent;
  3. the entrepreneur must provide active and ongoing management of the qualifying Canadian business; and
  4. 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.

Applicable time

(2) 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

(3) 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

(4) An entrepreneur must provide to an officer

  1. not later than six months after the day on which the entrepreneur becomes a permanent resident, their residential address and telephone number; and
  2. during the period beginning 18 months after and ending 24 months after the day on which the entrepreneur becomes a permanent resident, evidence of their efforts to comply with the conditions.

Family members

(5 )The family members of an entrepreneur are subject to the condition that the entrepreneur meets the conditions set out in this section.

Selection Grid for entrepreneur class-
Minimum points-The Minister shall fix and make available to the public the minimum number of points required of an entrepreneur, on the basis of

  1. the number of applications by members of the entrepreneur class currently being processed;
  2. the number of entrepreneurs projected to become permanent residents according to the report to Parliament and
  3. the potential, taking into account economic and other relevant factors, for the establishment of entrepreneurs in Canada

MINIMUM POINTS REQUIRED FOR QUALIFICATION- 35 PONTS
BUSINESS EXPERIENCE* Maximum 35
Five years’ business experience -35
Four years’ business experience -30
Three years’ business experience- 25
Two years’ business experience- 20
* within five years preceding date of application. Any additional experience gained in the period prior to a selection decision is to be counted.
Adaptabilty ( sec 105)

ADAPTABILITY Maximum 6
Business exploration trip to Canada within 5 years of application 6
Participation in designated joint federal-provincial business immigration initiatives -6 points
AGE- Maximum 6 POINTS
EDUCATION- Maximum 25 POINTS
LANGUAGE- Maximum 24 POINTS

For assessment, please contact us.

Skilled Worker Immigration

Permanent residence for skilled workers. The Comprehensive Ranking System, Invitation to Apply and related issues. Employer sponsorship is not a requirement

PNP & Appeals

Canada's provinces have their own provincial programs known as Provincial Nominee Programs (PNP). This is one of the most popular program. You can also appeal a negative decision from any PNP Program.

Sponsorship Immigration

A review of current sponsorship programs (permanent residence) promoting the reunion in Canada of close relatives from abroad. This is a complex process and it is important that you know the law, policy and your rights.

Contact Us

  • Abbotsford: Liberty Law Corporation      106-33119 South Fraser Way, Abbotsford, B.C. V2S 2B1
  • Surrey & Mission, British Columbia: Appointments can be arranged on request.
  • Tel: (604) 504-5411
  • Skype: libertylawyers
  • Email:
You are here Business Class : Entrepreneurs