Canada Immigration Entrepreneur. Canada Entrepreneur Immigration> Immigration Categories > Canada Entrepreneur Immigration
Entrepreneur Program Objective
The Entrepreneur program was developed to encourage the entry of experienced business persons to Canada who are able to make a substantial investment and thereby create employment and contribute to the economic well being of Canada. In order to be approved as an Entrepreneur, the applicant must first meet the regulatory definition of an Entrepreneur and then comply with the selection criteria for that category of immigrant.
Who is an Entrepreneur Immigrant
The following aspects of the regulatory definition should be factored into assessment of an Entrepreneur Immigrant:
a) has business experience;
b) has a legally obtained net worth of at least $300,000 [R88(1)];
c) provides a written statement to an officer that they intend and will be able to meet the conditions referred to in subsection R98(1) to (4), specifically, that for a 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:
i) control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 %;
ii) provide active and ongoing management of the qualifying Canadian business; and
iii) create at least one incremental full time job equivalent in that business for Canadian citizens
or permanent residents, other than the entrepreneur and their family members
Entrepreneurs are assessed on seven factors:
Knowledge of English and French;
Applicants must achieve a total of 35 points or more out of a maximum of 100 in order to qualify as an Entrepreneur, unlike the Independent Class applicants which have to achieve 67 points.
To operate a business in Canada you would require an employment authorization. We would not recommend going ahead with the purchase of a business until such time as you have been approved for your immigrant visas. We have been involved in cases where people have purchased businesses and then been refused it can be a real problem.
Generally business applicants are subjected to more review and greater scrutiny so the processing time is often longer and you receive a conditional immigrant visa subject to fairly stringent terms and conditions which if not fulfilled can result in your removal from Canada. In many cases we recommend to entrepreneur clients that they apply as skilled workers if they are qualified rather than business applicants.
Features of the Entrepreneur Program
there is CND$300,000 minimum net worth requirement;
the entrepreneur must actively mange the business;
the business must create employment for at least one person;
the business must make significant contribution to the economy;
all family members are admitted under the same terms and conditions as a principal applicant.
There are conditions applied to an Entrepreneur's Canadian Immigrant Visa. An entrepreneur must establish or buy a business in Canada. There is no set amount to invest, but it should be sufficient to establish the business within two years, while supporting the entrepreneur and his family. The entrepreneur is expected to participate actively in managing the business. The business must contribute to the Canadian economy and create one or more jobs in Canada in addition to the jobs created for the entrepreneur and his family. The entrepreneur is admitted on the condition that these requirements are met within two years of landing, and is expected to meet regularly with an immigration officer to monitor compliance with the terms and conditions.