Business Class Immigration to Canada
Business Class Immigration to Canada: Investors, Entrepreneurs, and Self-Employed
Business people who own or manage a business can apply for immigration to Canada. If successful, these business applicants will be granted permanent residence, allowing them to live and work in Canada, and to bring their immediate family members to live in Canada with them. After three years of living in Canada, a permanent resident can apply for Canadian citizenship.
There are three main categories of business immigration through which permanent residence in Canada may be obtained, as follows:
Investors
Persons with business or management experience who are interested in immigrating to Canada may apply for permanent residence under the Investor category. To qualify as an Investor, the applicant should have a net worth of at least $1,600,000 Canadian dollars. The applicant is required to make an investment of $800,000 which will be placed into a Canadian government fund. The money will be kept by the Canadian government for five years after which it will be returned to the investor. All the money paid by the investor into the investment fund is guaranteed by the Canadian government so there is no chance of the investment being lost. Alternatively, the investment can be financed through a bank fund so that the actual amount of investment is as little as $190,000, but in this case the money is non-refundable. Investor immigration provides business people with an excellent avenue to secure non-conditional permanent residence for themselves and their families in Canada.
Entrepreneurs
Entrepreneurs are persons who have successful experience starting and running their own business. The Canadian government encourages people with these business skills to immigrate to Canada. To qualify, an Entrepreneur applicant must have a net worth of at least $300,000 Canadian dollars, at least two years of business experience in a qualifying business, and the intention to start a business in Canada.
The successful Entrepreneur applicant will be issued a conditional permanent resident visa requiring that they start up a business in Canada and otherwise meet all related criteria. Specifically, an entrepreneur who becomes a permanent resident must meet the following conditions:
(a) control at least 33.3 percent of a qualifying Canadian business,
(b) provide active and on-going management of the business,
(c) create at least one full-time job.
The entrepreneur must meet these conditions for a period of at least one year within the period of three years after the day they become a permanent resident. If they do not, they could potentially lose their permanent residence.
Self-Employed
The Self-Employed category is a type of business immigration designed for persons who are able to start a small business that creates a job for themselves. The self-employment must be in an occupation that benefits Canada culturally: this includes artists, athletes, and farmers. A self-employed applicant should have experience working in a self-employed capacity, or relevant work experience that would allow them to be self-employed. There is no minimum net worth required to qualify as a self-employed immigrant, however, the applicant should have sufficient funds to start whatever business they intend to pursue in order to be self-employed.
The law office of Matthew Jeffery, Barrister & Solicitor, has over a decade of experience successfully assisting business class applicants and their families to obtain permanent residence in Canada.
If you are interested in discussing whether you qualify for immigration under the Investor, Entrepreneur, or Self-employed program, please Contact Us.