Business Class
Canada’s business immigration program seeks to attract people with capital,
business acumen and entrepreneurial skills. The business class includes the following
categories:
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Investors
Entrepreneurs (business owners)
Self-employed |
Canada Place, Vancouver, B.C.
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| Investors: Overview
The Investor category is suitable for those wishing to immigrate to Canada without the intention to engage in any type of business or employment activity after their arrival such as:
- applicants who wish to live in Canada after their retirement or
- applicants whose dependants move to Canada for the children’s education while the applicants continue operating a business outside of Canada.
There are no conditions attached to the immigrant-visas of investor immigrants and their dependants, unlike with the entrepreneur class, where, if the entrepreneur immigrant fails to establish, and be actively involved in, a qualifying Canadian company within two (2) years of immigrating, the immigrant-visa of the entrepreneur and all his/her dependants will be forfeited. Thus, neither investor immigrants nor their dependants risk losing their permanent resident status owing to the (in)action of the investor immigrant because, after having immigrated, everyone's immigration status is independent of each others.
Investor applicants are required to have
- a net-worth of at least Cdn$1.6 million,
- qualifying business experience and
- invest Cdn$800,000 into an approved fund.
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Investors: Networth of Cdn$1.6
million
Net-worth results from subtracting all financial liabilities from the total assets of the applicant and his/her spouse. All legally obtained assets may be included, such as inheritance, divorce settlements or gifts. |
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Investors: Qualifying Business Experience
There are two methods for meeting the business experience criterion:
- managing at least five (5) full time employees for at least two (2) of the preceeding five (5) years; OR
- managing and having ownership for two (2) of the preceding five (5) years in a business meeting at least two (2) of the following four (4) criteria:
- two full time employees
- annual revenue of Cdn$500,000,
- net annual income of Cdn$50,000 to applicant and spouse, OR
- the shares have a market-value of Cdn$125,000
These requirements relate to the applicant's percentage of ownership. Thus, if the applicant owns 50% of the company, the company must have four (4) full-time employees (not including the applicant), gross income of Cdn$1.0 million, etc. Although the Regulations speak of only “a” business, those owning more than one business may combine their assets and revenue in order to prove that they possess interest in a "qualifying business".
Investors: Cdn$800,000 Investment
After approval but before the immigrant-visa will be issued, investors must provide Immigration Canada with proof of having invested Cdn$800,000 in an approved fund, where the money will remain for five (5) years. The investment is guaranteed but no interest will be paid.
Alternatively, the funds we offer our clients provide a loan option, allowing investors to pay roughly Cdn$240,000 and to borrow the balance. The cost of the "loan" generally equals the amount paid, which is to say, one who meets the investor-class selection-criteria may acquire permanent resident in Canada for Cdn$220,000. Factors in deciding whether to opt for the "loan" is whether the Cdn$580,000, which otherwise would go to the fund, would generate more than Cdn$220,000 if invested outside the fund or whether one would have to liquidate assets in order to raise the Cdn$580,000
Investors: Selection Criteria
In addition to being obliged to meet the investor criteria, investor applicants must also be awarded at least thirty-five (35) points out of the following selection-criteria:
- Age (maximum 10),
10 points if between the ages 21 and 49
2 points less for each year thereafter
- Education (maximum 25),
5 for high school
12 for one-year, post-secondary certificate and 12 years of school.
15 for one-year, post-secondary certificate/diploma and 13 years of school
20 for two-year, post-secondary certificate/diploma and 14 years of school
22 for three-year, trade certificate and at least 15 years of school,
22 for two bachelor degrees and at least 15 years of school, or
25 points for a master's degree and at least 17 years of school.
- English and French, reading, writing, listening, speaking (maximum 24 points),
first language: 2 points for moderate proficiency per factor or
4 points for high proficiency per factor; and
second language: 1 points for moderate proficiency per factor or
2 points for high proficiency per factor;
- Business Experience with the past five years (maximum 35 points)
20 points for two years,
25 points for three years,
30 points for four years and
35 points for five years,
- Adaptability (six points)
6 points for a business exploration trip within five years or
6 points for participating in a joint federal/provincial program.
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Banff Townsite Church with Mount Rundle, B.C.
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Entrepreneur: Overview
The entrepreneur (business-owner) is suitable for business folk who intend to own and manage a Canadian company after immigrating to Canada. Applicants in this category are required to have
- a net-worth of at least Cdn$300,000,
- business management and ownership in a qualifying business and
- be prepared within two years of immigrating to invest, and be actively involved, in a qualifying Canadian business.
Failure to comply with the third requirement permits Immigration Canada to take away the permanent resident status of the entrepreneur and of the family members who immigrated with him/her.
Entrepreneur: Net-worth of Cdn$300,000
Net-worth results from subtracting all financial liabilities from all the assets of the applicant and his/her spouse. All legally obtained assets may be included, such as inheritance, divorce settlements or gifts.
Entrepreneur: Qualifying Business Experience
Those applying as entrepreneurs must have managed and held ownership for two (2) of the preceding five (5) years in a business meeting at least two (2) of the following four (4) criteria:
- two full time employees,
- annual revenue of Cdn$500,000,
- net annual income of Cdn$50,000 to applicant and spouse(**), OR
- the shares have a market-value of Cdn$125,000,
These requirements relate to the entrepreneur's percentage of ownership. Thus, if the entrepreneur and spouse own 50% of the company, the company must have four (4) full-time employees (not including entrepreneurs and family members who immigrated with them), gross income of Cdn$1.0 million, etc. Although the Regulations speak of only “a” business, those owning more than one business may combine their assets and revenue in order to prove that they possess interest in a "qualifying business".
Entrepreneur: Requirements for Entrepreneurs after immigration
Those immigrating as entrepreneurs are required, within two years of having immigrated, to make a qualifying investment in a qualifying Canadian company and to be actively involved in its management for at least one year. Failure to do so permits Immigration Canada to strip the entrepreneur and those family members who immigrated with him/her of their permanent resident status.
- Qualifying Investment: the entrepreneur must own at least one-third of the qualifying Canadian business;
- Period for Investment: the entrepreneur has two years from landing to make the required investment in an existing business or to establish a new business;
- Role in the Business: the entrepreneur must be actively involved for at least one year in the management of the business;
- Type of Business: a sole proprietorship, a partnership or a limited company is acceptable and it may be involved in any lawful business except one which is "operated primarily for the purpose of deriving investment income, such as interest, dividends or capital gains";
- Canadian Business: the entrepreneur's share of the business must be responsible for achieving two (2) of the following four (4) criteria:
- one (1) full time employee who is a Canadian citizen or permanent resident and is not the entrepreneur nor a family member who immigrated with the entrepreneur,
annual revenue of Cdn$250,000,
- net annual income of Cdn$25,000 to applicant and spouse, OR
- the shares have a market-value of Cdn$125,000
These requirements relate to the entrepreneur's percentage of ownership. Thus, if the entrepreneur and spouse own 50% of the company, the company must have two (2) full-time employees (not including entrepreneurs and family members who immigrated with them), gross income of Cdn$500,000, etc.
Entrepreneur: Selection Criteria
In addition to being obliged to meet the definition of entrepreneur, entrepreneur applicants must also be awarded at least thirty-five (35) points out of the following selection-criteria:
- Age (maximum 10),
10 points if between the ages 21 and 49
2 points less for each year thereafter
- Education (maximum 25),
5 for high school
12 for one-year, post-secondary certificate and 12 years of school
15 for one-year, post-secondary certificate/diploma and 13 years of school
20 for two-year, post-secondary certificate/diploma and 14 years of school
22 for three-year, trade certificate and at least 15 years of school,
22 for two bachelor degrees and at least 15 years of school, or
25 points for a master's degree and at least 17 years of school.
- English and French, reading, writing, listening, speaking (maximum 24 points),
first language: 2 points for moderate proficiency per factor or
4 points for high proficiency per factor; and
second language: 1 points for moderate proficiency per factor or
2 points for high proficiency per factor;
- Business Experience within the past five years (maximum 35 points)
20 points for two years,
25 points for three years,
30 points for four years and
35 points for five years,
- Adaptability (six points)
6 points for a business exploration trip within five years or
6 points for participating in a joint federal/provincial program.
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Peggy's Cove, Nova Scotia |
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Self-Employed
The self-employed category is restricted to those supporting themselves for at least two of the preceding five years in athletics, the arts or other cultural activities or as farmers. Those who have not been self-employed in athletics or the arts must have participated "at a world-class level in cultural activities or athletics". In addition, self-employed applicants must also be awarded at least thirty-five (35) points out of the following selection-criteria:
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- Age (maximum 10),
10 points if between the ages 21 and 49
2 points less for each year thereafter
- Education (maximum 25),
5 for high school
12 for one-year, post-secondary certificate and 12 years of school.
15 for one-year, post-secondary certificate/diploma and 13 years of school
20 for two-year, post-secondary certificate/diploma and 14 years of school
22 for three-year, trade certificate and at least 15 years of school,
22 for two bachelor degrees and at least 15 years of school, or
25 points for a master's degree and at least 17 years of school.
- English and French, reading, writing, listening, speaking (maximum 24 points),
first language: 2 points for moderate proficiency per factor or
4 points for high proficiency per factor; and
second language: 1 points for moderate proficiency per factor or
2 points for high proficiency per factor;
- Relevant Experience with the past five years (maximum 35 points)
20 points for two years,
25 points for three years,
30 points for four years and
35 points for five years,
- Adaptability (maximum 6 points)
5 for a qualifying relative of the applicant or spouse; i.e.,
child, parent, grandparent, sibling, aunt/uncle or niece/nephew;
5 for the applicant or spouse having been a post-secondary visa-student in Canada for two years;
5 for the applicant or spouse having worked one year in Canada on a work permit;
points for the the spouse's(**) education as following
5 for a master's degree
4 for a bachelor's or three-year trade certificate or
3 for having completed a one-year, post-secondary program.
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Hopewell Rocks, New Brunswick |
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