Entrepreneurs must have business experience. They must have managed a business and controlled a percentage of equity of a business for at least 2 years in the period beginning 5 years before the date of application.
The entrepreneur class applicant must have a net worth of at least $300,000. Additionally, they must have the intention and the ability to:
- Control a percentage of equity of a qualifying Canadian business equal to or greater than 331/3%;
- Provide active and ongoing management of the qualifying Canadian business;
- Create at least one incremental full-time job equivalent for one or more Canadian citizens or permanent residents other than the entrepreneur applicant and their family members.
Entrepreneurs are required to sign a statement that they intend and will be able to meet the conditions or permanent residence.
Features of the Entrepreneur Program
- A minimum net worth requirement of $300,000;
- A requirement that within three years of becoming a permanent resident, the entrepreneur must have controlled and actively managed a qualifying Canadian business for a period of at least one year, and that the business must have created employment opportunities for others; and
- All family members are admitted under the same conditions as the principal applicant; the conditions are removed once the entrepreneur satisfies the conditions.
Investors must have business experience. They must have either:
- managed a qualifying business and controlled a percentage of equity of a qualifying business for at least 2 years in the period beginning 5 years before the date of application, or
- they must have managed at least 5 full-time job equivalents per year in a business for at least 2 years in the period beginning 5 years before the date of application.
The investor class applicant must have a net worth of at least $800,000. They are required to make an investment of $400,000, paid to the Receiver General of Canada (We help you arrange bank financing, so that you do not have to tie up such a large sum of your money for lengthy period of time).
The investment is subsequently allocated to participating provinces and territories of Canada. These governements use the funds for job creation and economic development. The full amount of the investment (without interest) is repaid to the investor after 5 years. The exact date of repayment depends on when the $400,000 is received by Citizenship and Immigration Canada. At the latest, the amount would be returned 5 years and 3 months after the date of payment. The return of the investment is fully guaranteed by participating provinces and territories.
Features of the Investor Program
- Investors are not required to start a business in Canada
- Investments are fully guaranteed by provinces and territories that participate in the program;
- The provinces and territories control the investment during the 5 year lock-in period; and
- No immigration conditions are imposed upon admission to Canada.
The selection Grid
Investors and entrepreneurs will be assessed against the following selection grid:
THE PASS MARK FOR ENTREPRENEURS AND INVESTORS IS ONLY 35 POINTS.
|Business Experience: within five years preceding the date of application||
|Two years business experience||20|
|Three years business experience||25|
|Four years business experience||30|
|Five years business experience||35|
|21-49 years of age at time of application||10|
Less 2 points for each year of age over 49 or under 21 years
|Doctorate or Master’s Degrees||25|
|Bachelor’s Degree – 3 years full time studies OR Diploma, trade certificate or apprenticeship – 3 years full time studies / training||20|
|Diploma, trade certificate or apprenticeship – 2 years full time studies / training||15|
|Diploma, trade certificate or apprenticeship – 1 year full time studies / training||10|
|Basic Proficiency or no abilities||2|
|Basic Proficiency or no abilities||2|
|Business exploration trip to Canada within 5 years of application||6|
|Participation in designated Joint Federal-Provincial Business Immigration Initiatives||6|
Totalling 100 points maximum.