Resident Visas - Economic Class - Business Immigrants
Email this pageThe business immigrant category, like that of Skilled Workers, is based upon the ability of these applicants to become economically established in Canada.
Business immigrants are people who can assist and support in the development of a strong Canadian economy. Business immigrants invest in Canadian businesses or start businesses in Canada on their own, thus facilitating the growth and prosperity of the Canadian economy and community.
There are three main categories of business immigrants. They are: (1) Investors; (2) Entrepreneurs; and (3) Self-employed persons. Each sub-category has both particular scope and requirements.
Investors
(a) Who is an investor?
According to the Immigration Act, an investor is someone who (a) has business experience; (b) has a legally obtained net worth (together with their spouse/common law partner) of at least CND $800 000; and is prepared to make or to finance an investment of CDN $400 000.
(b) Qualifying Business Experience
The business experience may be the management of a business and the control of a certain percentage of that business for a period of at least two years in the five year period before the application for a permanent resident visa is made and ending on the day a determination is made.
Conversely, the business experience may be the management of at least five full time employees per year in a business for a period of at least two years in the same five year period.
Only certain businesses, called "qualifying" businesses are eligible for consideration. To be considered as a "qualifying" business, factors such as percentage of ownership, number of employees, annual sales, net income and net assets are considered.
Entrepreneurs
(a) Who is an Entrepreneur?
An entrepreneur must also have business experience and must be able to demonstrate a legally obtained net worth of CDN $300,000.
(b) Qualifying Business Experience
Business experience, in respect of an entrepreneur, means the management of a "qualifying business", as discussed above, and the control of a percentage of equity of the business for a period of at least two years in the five year period before the application determination date. Percentage of equity has the same meaning as for investors.
The applicant will have terms and conditions imposed on his permanent resident visa, which, generally speaking, is the creation and/or acquisition of a business in Canada which has to meet certain parameters. The applicant will have to remove these terms and conditions within 3 years after landing in Canada as a permanent resident.
Self-employed persons
(a) Who is a self-employed person?
To be considered a self-employed person the applicant must have relevant experience in cultural activities, athletics or farm management. Moreover, the applicant must have the intention and ability to establish a business that will, at a minimum, create work for him/herself.
(b) Qualifying relevant experience
A self-employed person must have relevant experience in cultural activities, athletics or farm management. This means that the applicant must have had at least two years in the five year period prior to the determination of the application for permanent resident status in the following types of experience: (i) self-employment in cultural activities or in athletics, and (ii) participation at a world-class level in cultural activities or athletics, or (iii) farm management experience.
There are no conditions imposed on this class of applicants. However, a self-employed person must have enough money to support his/her family upon arrival in Canada.
Citizenship
Subject to certain exceptions relating to criminality and other violations of Canadian laws and regulations, any permanent resident of Canada who resided in Canada as a permanent resident for 3 years in a 4 year period immediately preceding the application for Canadian citizenship, is eligible to apply for Canadian citizenship. In some instances, the entire 3 year period need not be shown as "physical presence" in Canada. Moreover, time in Canada as a student or foreign worker can also be counted toward compiling the necessary 3 years, but cannot be counted for more than 1 year in total.
The present citizenship rules are likely to change, as new legislation is currently to qualify for citizenship.
