Business Immigration – FAQ

Business Immigration – FAQ

Business Immigration – FAQ

Canadian Business Class is a distinct immigration category targeting High Net Worth business persons with managerial experience. Immigrant Investors, Self-employed persons, and Entrepreneurs are sub-categories of the Canadian Business Class.

Documents to prove your net worth, managerial experience, and business activities are mandatory. You should submit a passport, personal ID, birth certificate, marriage certificate, and other documents as per the details in the IRCC application form.

No, you will have the option to choose the province and territory while filling out the application form. You can conduct business and settle in any other province or territory. You have to establish or acquire a commercial enterprise to settle in Quebec.

The applicant should submit documentary evidence from third-party sources to establish that wealth accumulation is through legitimate business activities. The evidence can include:

  • Pay stubs
  • Tax returns
  • Purchase deeds
  • Sales deeds
  • Valuation of real estate
  • Business valuation

It is not mandatory to involve in business activities in Canada, although you have the right to participate in such activities.

There are several factors to consider, as it relies on the type of program. You will only invest after the approval of the application under the Immigrant Investor Venture Capital Pilot category. The investor will have to commit the investment of CAD 2 million for 15 years. You may lose a portion or all investment since it is an at-risk investment. The investor may receive the proceeds after the investment term or over time.

Immigrant Investor programs of Quebec offers a broader perspective as it allows applicants with managerial experience in a government organization or international organization.

Requirements to qualify as an applicant for Federal Entrepreneur Program living at any Canadian location except Quebec:

  • Demonstrate a minimum net worth of CAD 300,000 from legal sources
  • Prove managerial experience as per regulations
  • Proof of establishing or acquiring 33 percent minimum equity in a Canadian business
  • Demonstrate ability to create at least one job position for a Canadian citizen or permanent resident

Requirements to qualify as an applicant for the Entrepreneur program and live in Quebec

  • Prove a minimum of two years of managerial experience in the last five years
  • Demonstrate a minimum of 25 percent equity in a commercial, agricultural, or industrial business running profitably
  • Provide a business project report to establish or acquire a Quebec-based business. Demonstrate that you will have capital equity worth CAD 100,000, amounting to a 25 percent share

Requirements to qualify as an applicant for the Start-up Visa program:

  • Fulfill language proficiency criteria with CLB in all abilities for English or French
  • Prove minimum educational credentials of a post-secondary program having a one-year duration
  • Demonstrate proof of funds for settling in Canada
  • Meet Canada’s admissibility requirements

The individual entrepreneur must fulfill the following conditions of Canada Immigration Visa under the Entrepreneur category:

  • The individual entrepreneur must fulfill the following conditions in three years after arriving in Canada:
  • Ensure control of more than one-third percentage of a Canadian business
  • Actively participate in managing the Canadian business.
  • Generate a minimum of one full-time job for a Permanent resident or Canadian citizen who is not the entrepreneur’s family member

Fulfillment of these conditions is vital to maintain the status of Permanent Residency.

Yes, visiting Canada as an aspiring entrepreneur will help you collect first-hand information about the business environment in the proposed location.

No, you need not submit a business plan unless you plan to establish your business in the province of Quebec.

The following are crucial attributes of an aspiring Self-employed person who can apply under the category:

  • Experience in the occupation
  • Intention to contribute significantly to the farming, cultural or athletic activities
  • Ability to earn adequate income to support self and family

It is preferable to make a tentative visit to Canada to explore available opportunities in your intended occupation like the farming, athletic, or cultural fields.

The minimum net worth requirement for a self-employed applicant depends upon the location of the venture. For example, Quebec mandates the self-employed applicant to have a minimum net worth of $100,000.

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