BUSINESS CLASS IMMIGRATION TO CANADA
If you have experience running or investing in businesses, you may qualify to come to Canada as a Business immigrant. The Business Class Immigration Program seeks to attract people experienced in business in addition to attracting both capital and business skills to come to Canada.
This Business Immigration program was specifically developed for those individuals who have business expertise, entrepreneurial skills, successful experience and attainment in business, and who can invest in, start, or buy enterprises in Canada and contribute to support the development of a strong and prosperous Canadian economy.
There are three classes of business immigrants each with separate eligibility criteria:
The Immigrant Investor Venture Capital Pilot Program is for individual investors with skills and abilities to contribute to the Canadian economy.
Immigrant Investor Class Criteria:
- Applicants must meet the category under the type of Business immigration definition of Immigrant Investor Venture Capital Pilot Program (IIVC).
- Have completed Canadian post secondary degree, diploma or certificate or foreign credentials validated through a ECA report showing Canadian equivalent.
- Successfully operated, controlled or directed a qualifying business.
- Minimum Personal assets of CDN $10,000,000 / Ten million which is legally accumulated and verifiable.
- Be willing to invest in a Non guaranteed Investment Venture Capital Fund of CDN $2,000,000 / Two million.
- Commit a sum of $2,000,000 / Two million to the IIVC fund for app 15 years.
- Medical examination and security check.
- Proof of Language ability in English or French and obtain a score CLB 5.
This program will connect promising foreign entrepreneurs to Canadian organizations that will assist in start-up operations to build companies in Canada. The purpose of this program is to sign up innovative foreign entrepreneurs who will create new jobs and drive economic growth in Canada.
Immigrant entrepreneurs hoping to launch cutting-edge businesses in Canada and attain permanent resident status need the support of participating Canadian investors.
To be eligible for the Immigrant Entrepreneur Start-Up Visa program one must:
- Prove their business is supported by a Designated organization with a “Letter of Support”.
- Show their business meets ownership requirements.
- Meet language requirements of at least CLB 5 for either English or French.
- Enough settlement funds prior to earning an income.
Designated organizations choose which business proposals to review, assess the potential of proposals and whether or not it will succeed. If it chooses to support a business proposal, it issues a Letter of Support.
The applicant will also receive a Letter of support from the investment organization, which the applicant will need to submit with their application for Permanent residence.
Self-employed persons must have the intention and ability to create their own employment that requires specific experience. They must be able to employ themselves and their family members and make a significant contribution to the economy or the cultural life in Canada.
To qualify, the applicant must demonstrate a sufficient financial net worth which should make possible the applicant to be self-employed in Canada and make a significant contribution to specified economic activities in Canada and to meet the initial settlement requirements for the applicant and accompanying dependants.
As a self-employed person, you must have relevant experience in cultural activities, athletics or farm management. You are expected to contribute to the cultural, artistic or athletic life of Canada. For instance: They may create their own employment by purchasing and managing a farm in Canada.
Apart from this, one has to show sufficient financial net worth to enable one to be self-employed in Canada and show at least two one-year periods of experience in their respective fields.
- Applicants must meet the category under the type of Business immigration definition.
- Have self-employment experience for at least two years.
- Have a net worth of at least CDN $100,000 CDN or sufficient funds.
- Demonstrate that he/she has the intention and the means to establish or purchase a business that will provide for his/her own employment and thereby contribute in a significant manner to the economic, artistic or cultural life of Canada.
- The candidate must be in a position to prove that he/she will be able to generate a sufficient income from the business to provide for the candidate’s own needs and for those who are dependent on him/her.
- Self-employed in cultural activities or in athletics, or have farm management experience.
- Sufficient funds to support themselves and family members once in Canada.
- No immigration conditions are imposed by IRCC on this class.
- Self Employed Applicants must obtain a minimum of 35 points in the selection grid.
- Pass Medical examination and security check.
Only immigrants who have been self-employed in cultural activities or in athletics, or have participated at a world-class level in cultural activities or in athletics or have farm management experience are eligible within the class.
Other business immigrants with more general business abilities will be required either to meet the Start Up Visa or Immigrant Investor definitions, qualify as skilled workers, or to be selected as Provincial nominees in order to immigrate to Canada.
To be eligible for selection as a business immigrant, applicants must first meet the applicable business immigration definition of the class in which they are applying whether investor, entrepreneur or self-employed.
The selection factors and maximum points allocated are as follows:
|Factors Assessed||Maximum Points|
|Proficiency in English and/or French||24|
|Points To Obtain||35|
An applicant must satisfy the visa officer that he or she meets the requirements of Canada’s Immigration Act and Regulations for Self Employed business immigrants under the modified selection grid comprising of 5 decisive factors. They are selected based on:
- Documents provided
- Score under each of the selection criteria.
- Meeting the definition of a Self Employed Person.
Quebec has its own business immigration program In addition; many other Provinces provide valuable information and services to assist business immigrants in setting up and successfully operating businesses in Canada. You may also wish to visit the provincial or territorial web sites for more information under the Provincial Nominee Program.
In order to apply for a Canadian Visa, you must establish the correct immigration category for your circumstances. Once you have become a client of the firm, we will assist you to establish which subcategory of the Business Class suits your qualifications and aspirations appropriately and choose the best fit that meets your objective of landing in Canada.
We are Licensed Immigration Consultants authorized by the Canadian Government to advise, represent and consult on Immigration matters bearing Membership No: R416183 from the Immigration Consultants of Canada Regulatory Council. www.iccrc-crcic.ca.