Immigration topics for business people

  • Important facts

    There are three categories that are included in the Canadian immigration program for businesspersons. In all three, a point system is used, and the pass mark is 35. Thirty-five points are given automatically for anyone who has been in business for the last five years. Thus it is easy to get enough points. What is difficult is fitting inside the definitions.

  • Self Employed Class

    This category is for farmers, artists and athletes and those who work in occupations that support sports and the arts. No minimum net worth is required.

  • Entrepreneur Class

    The applicant must have a net worth of $300,000(husband and wife's assets combined), must have owned a qualifying foreign business in two of the last five years and must be willing to invest in a qualifying business in Canada within three years of immigrating.

  • Investor Class

    The applicant must have a net worth of $800,000 (husband and wife's assets combined), must have owned a qualifying foreign business in two of the last five years or must have managed at least five (5) workers in a business and must be willing to invest $400,000 with the Canadian Federal Government for five (5) years as an interest-free loan. This loan can be financed through a range of Canadian financial institutions.

  • What is a qualifying business?

    Based on 100% ownership by the applicant, a Qualifying Business is one that can pass two of the following four tests: two employees, $500,000 gross revenues, $50,000 profit or $125,000 in equity. If the applicant does not own 100% of the shares, the tests are calculated based on the share of ownership, i.e. if the applicant owns half of the company, the tests are doubled.

  • What is a qualifying Canadian Business? (For Entrepreneurs only)

    An Entrepreneur gets a conditional visa and can lose their Canadian residence status deported if he does not comply with his conditions namely-within three years after immigrating to own at least one third of a Qualifying Canadian Business that has at least one worker. And to participate in the management of the business. Based on 100% ownership by the applicant, a Qualifying Canadian Business is one that can pass two of the following four tests after one year: Two Employees, $ 250,000 gross revenues, $ 25,000 profit, $125,000 equity. If the immigrant does not own 100%, the tests are calculated based on share of ownership. If the applicant owns one-third, the tests are multiplied by three.

    Businesspersons who cannot meet one of the above definitions cannot immigrate under Federal rules and should instead investigate the Provincial Nomination Programs. Provincial Nomination Programs do not normally have definitions and can be used by people who cannot meet the Federal requirements for net worth or for documentary proof of business experience.

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