|
BUSINESS IMMIGRANT - ENTREPRENEUR CATEGORY
The Entrepreneur Category was created to allow suitable business persons with business experience and managed a qualifying business and controlled a percentage of equity of qualifying business for at least two (2) years in the period beginning five (5) years before the date of application.
Applicants in the Entrepreneur Category must have a net worth of at least $300,000. In addition, Entrepreneurs must have the intention and the ability to:
-
Control a percentage of equity of a qualifying Canadian business equal to or greater than 33.33%;
-
Provide active and ongoing management of the qualifying Canadian business; and
-
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.
The Entrepreneur Category has a requirement that within three (3) years of becoming a permanent resident, the entrepreneur must have controlled and have actively managed a qualifying Canadian business for a period of at least one year.
All family members that are admitted under the Entreprenuer Category has the same conditions as the principal applicant; the conditions are removed once the entrepreneur satisfies the conditions below:
-
Entrepreneurs are required to sign a declaration stating they intend and will be able to meet the conditions of permanent residence;
-
Minimum net worth requirement of $300,000; and
-
The province of Quebec operates its own immigrant entrepreneur program. All entrepreneurs in the Quebec program must intend to live in Quebec and must be selected by Quebec. Entrepreneurs in the Quebec program must have a net worth of $300,000.
Qualifying Business Participation Attributes
|
Attribute |
Equity |
Multiplied by: |
Equal or greater than |
|
1 |
Percentage of equity |
Full-time job equivalents |
2 full-time equivalents |
|
2 |
Percentage of equity |
Total Annual Sales |
$500,000* |
|
3 |
Percentage of equity |
Annual Net Income |
$50,000* |
|
4 |
Percentage of equity |
Net Assets |
$125,000* |
* in Canadian Funds
Percentage of equity in a qualifying business
|
Attribute |
Percent of Equity |
|
|
100% |
50% |
33.33% |
|
Employment |
2 |
4 |
6 |
|
Total Annual Sale |
$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* |
* in Canadian Funds
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* |
* in Canadian Funds
Relevant documents include:
q Personal net worth statement.
q Business balance sheet.
q Business financial statements.
q Corporate employee payroll.
These documents provide an accounting of the applicant's assets and liabilities and help the officer to determine whether the applicant has the required business experience. They are discussed in the following sections.
Five (5) Selection Passmark
These are five (5) selection factors considered for skilled worker to obtain the points. The table below indicates the maximum allowable points per category that application will be assessed.
|
Factors |
Maximum Points |
|
Education |
25 |
|
Language |
24 |
|
Relevant Experience |
35 |
|
Age |
10 |
|
Adaptability |
6 |
|
TOTAL POINTS |
100 |
|
Current Passmark |
35 |
For more information on the provincial programs that can expedite your permanent resident application, please contact us.
Business Immigrant (Entrepreneur) FREE Assessment
|
