This Category has been designed to attract experienced businessmen particularly, successful candidates who can invest in Canada and generate revenues and employment. In 2004, more than 9,500 business migrants were allowed entry into Canada. In 2006-2007, the government targets to bring this figure to nearly 11,000 business migrants.
In order to encourage the development of a strong, prosperous economic environment, the Canadian government seeks business people with sufficient business experience and the necessary assets.
The Business Migration Program of Canadian government is divided into four main categories which are as follows:-
A. Investor Immigrant Visas
The Canadian Investor Immigrant Visa is a Canadian visa service designed for work visa applications from business people with significant experience and capital who wish to migrate to Canada. Investors must demonstrate business experience, a minimum net worth of CAD $800,000 and make an investment of CAD $400,000. This is aimed at successful senior executives with managerial experience or successful owners or part-owners who have the intention and ability to invest in Canada for a term of 5 years.
Under the Canada-Quebec Accord, the province of Quebec operates its own immigrant investor program. All investors in the Quebec program must intend to live in Quebec and must be selected by Quebec. In common with the federal program, investors in the Quebec program must invest $400,000 and have a net worth of $800,000.
Some of the key features of the Investor Immigration Visa:
Investors are not required to start a business in Canada;
Investments are fully guaranteed by provinces and territories that participate in the program;
The provinces and territories control the investment during the 5 year lock-in period; and
No immigration conditions are imposed upon admission to Canada
Points System
Beyond the above criteria, the IIP requires that applicants should meet a minimum of 35 points based on a number of criteria. This is similar to a Canadian skilled worker visa, and the Highly Skilled Migrant Program or HSMP in the UK, rating candidates by their language proficiency, education, experience and age. However, for this business visa route the required threshold is significantly lower.
B. Entrepreneur Immigrant Visa
The Entrepreneur Program seeks to attract experienced persons that will own and actively manage businesses in Canada that will contribute to the economy and create jobs. Entrepreneurs must demonstrate business experience, a minimum net worth of CDN $300,000 and are subject to conditions upon arrival in Canada.
Some of the key features of the Entrepreneur Immigration Visa are:
A minimum net worth requirement of $300,000;
A requirement that within 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 1 year, and that the business must have created employment opportunities for others; and
All family members are admitted under the same conditions as the principal applicant; the conditions are removed once the entrepreneur satisfies the conditions.
Point System
The Entrepreneurs Program is also a points tested visa and requires a pass mark of 35 out of 100 points and is assessed on six main factors including age, education, business experience, language ability and adaptability.
C. Self-Employed Immigrant Visa
Self-employed persons must have the intention and ability to create their own employment. They are expected to contribute to the cultural, artistic or athletic life of Canada. For example, they may create their own employment by purchasing and managing a farm in Canada, etc.
Some of the Key features of the Self Employed persons program include:
No immigration conditions are imposed on this class.
Self-employed immigrants must have the experience, intention and ability to:
Establish a business that will, at a minimum, create an employment opportunity for themselves and that will make a significant contribution to cultural activities or athletics in Canada; or
Purchase and manage a farm in Canada.
Although you do not need to evidence net assets in order to obtain this visa, you should be able to evidence enough funds to support yourself and family upon your arrival in Canada.
Point System
This program is also points tested and requires a pass mark of 35 out of 100 points and is assessed on six main factors including age, education, business experience, language ability and adaptability.
D. Provincial Nominee Business Immigrant Visas
government has also negotiated various provincial and territorial agreements relating to the specific needs of business people and capital investment for each geographic area. Therefore, most Canadian provinces also have their own nominee programs that are designed to encourage business people to settle in those provinces.
Currently, Provincial Nominee Business Programs exist in the following provinces and territories:
- Alberta
- Manitoba
- Newfoundland and Labrador
- Prince Edward Island
- Yukon
- British Columbia
- New Brunswick
- Nova Scotia
- Saskatchewan
Under Provincial Nominee Business Programs, applicants must first apply to the province where they wish to settle. If successful, applicants must then apply to the CIC to ensure they meet health and security requirement for entry to Canada.
