Canada Business Immigration - Entrepreneur
The Entrepreneur Program seeks to attract people with business experience who have the intention and ability to actively manage a Canadian business that will positively impact the Canadian economy and create employment opportunities for Canadian residents.
As a qualified Entrepreneur, you and your immediate family can obtain Canada Immigration (Permanent Resident) Visas under the Federal Program (applicants intending to reside anywhere in Canada, except Quebec). The Entrepreneur Program requires you to establish or acquire a percentage of equity (at least 33.33%) in a qualifying Canadian business that you must actively manage. Your business must create at least one new job for a Canadian citizen or permanent resident.
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. This is a way to obtain Canadian permanent residence both for the entrepreneur applicant and his or her family, including any spouse and children under the age of 22.
Entrepreneur Immigration: Basic Criteria
For an applicant to qualify for entrepreneur immigration in Canada, the applicant must have a net worth of at least $300,000 Canadian dollars, business experience, and the intention to start a business in Canada.
The $300,000 net worth could be in the form of cash or it could be property. The assets of a spouse or common-law partner can also be considered in the assessment of net wealth. As a condition of the program, after immigrating the Entrepreneur must start a business in Canada.
Entrepreneur Immigration: Business Experience Requirement
Business experience means the management of a qualifying business and the control of a percentage of the equity in that business for at least two years in the five years before the Entrepreneur application and ending on the date a decision is made on the application.
A "qualifying business" is one that meets at least two of the following four criteria on an annual basis:
- The business employs at least two people on a full-time basis
- The business sales are at least $500,000
- The business net income is at least $50,000
- The business has net assets of at least $125,000
The above figures assume 100% ownership of the business. Where the Entrepreneur applicant owns a smaller percentage of the business and not the whole business, the figures must be adjusted upward accordingly to determine whether the applicant meets the minimum standards.