Entrepreneurs and small and medium-sized businesses are an important part of the Canadian economy.  If, as a potential Canadian immigrant, you would like to establish and manage your own business in Canada, the Entrepreneur category of Canadian Business immigration could be your ticket to Canadian Permanent Residency.  The federal and provincial governments strongly encourage newcomers to invest in new or existing businesses across the country, bringing their international experience to the Canadian economy.  The federal Entrepreneur category of Business Class immigration was created to do just that, and many provincial Entrepreneur programs have subsequently emerged as well.

The purpose of the Entrepreneur Program is to attract experienced foreign business people who intend to own and manage Canadian businesses.  These investments by Entrepreneurs will help build the Canadian economy and will create jobs for Canadian citizens and Permanent Residents.

To qualify as an Entrepreneur, applicants must have at least two years of business experience and a minimum net worth of at least $300,000.  Additionally, they need to satisfy minimum criteria for experience, education, age, English and/or French language abilities, and adaptability.  They must also pass medical and security clearances.

Qualifying business experience must have been within the past five years before the immigration application is submitted.  The Entrepreneur applicant must have managed a qualifying business and owned a percentage of equity in the business.  (Citizenship and Immigration Canada defines a qualifying business as one that is not operated primarily for the purpose of deriving investment.)

Once successful Entrepreneur applicants are granted Permanent Resident status, they are then required to satisfy certain conditions in order to retain their status.  They must provide a written statement to the immigration officer that they have the intention and the ability to meet the following conditions:

The Entrepreneur must control at least a third of the equity of a qualifying Canadian business and provide active and on-going management of the business.  Additionally, the business must create at least one full-time job for a Canadian citizen or Permanent Resident (other than the Entrepreneur or a family member).

These conditions must be met for a period of at least one year within the first three years of the Entrepreneur becoming a Canadian Permanent Resident.

Entrepreneurs are required to meet with immigration officers several times during this three year period to show evidence of their efforts to comply with these conditions.

The federal Entrepreneur category is applicable to applicants who wish to settle in any province/territory other than the province of Quebec, which has a separately-managed Entrepreneur program.  Similarly, almost every Provincial Nomination Program (PNP) has its own Entrepreneur program designed to encourage immigrants to set up a business in a particular region.  Requirements differ slightly for provincial programs, including lower net worth requirements, but their structures are similar to the federal program.

Though it is one of the three categories of federal business immigration, the Self-Employed Person category is the only one that does not require a monetary investment or a minimum personal net worth.  It is simply a fast-track option for those who have relevant experience in an occupation in art, culture, recreation, or sport, as listed by Citizenship and Immigration Canada (CIC), and have the ability to become self-employed in Canada.  It is also open to people who wish to purchase and run a farm in Canada.

Often overlooked, the Self-Employed Persons program is an important Canadian immigration option which seeks to attract foreign nationals who will make a significant contribution to cultural and athletic life in Canada.  This program was designed to build the nation’s world-class cultural and sporting talent by facilitating the immigration process for applicants through priority processing.

The list of qualifying occupations is quite extensive, going far beyond athletes, musicians, dancers, and painters.  Over 30 occupations are considered, including librarians, curators, journalists, translators, producers, composers, broadcast technicians, interior designers, graphic designers, and referees, to name a few.

Additionally, this program is a fast-track Canadian immigration option for those with the intention and ability to purchase and manage a farm in Canada.

All applicants are assessed based on their education, experience, age, English/French language ability, and adaptability, with a minimum of 35 points required.

The key to eligibility as a Self-Employed Person, however, is the applicant’s relevant experience.  A minimum of two years of experience, during the past five years before the date of application is required.  In terms of cultural activities or athletics, applicants must have either two one-year periods of self-employment in cultural or athletic activities; two one-year periods of participation at a world-class level in cultural or athletic activities; or a combination of one year of self-employment and one year of participation at a world-class level.

For those applying with respect to the purchase of a farm in Canada, two one-year periods of experience in farm management are required.

Like other Canadian immigration processes, applicants and their families will be required to pass medical examinations and security checks, as well as demonstrate that they have sufficient settlement funds to support themselves once they arrive in Canada.

Canada’s Self-Employed Persons business immigration program welcomes people who have the potential to contribute to the cultural and athletic development of the country.

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Canada’s banking system is renowned for its stability.  And Canada is recognized for its superior quality of life.  Through the Canadian Immigrant Investor Program, you and your family could qualify for fast-track Canadian Permanent Residency…and your money is secure.

The Immigrant Investor Program, a category of Canadian Federal Business Immigration, is an important option for wealthy business people who wish to immigrate to Canada.

To qualify as an investor, you will be required to make a C$400,000 investment in Canada.  Your funds will be managed by Citizenship and Immigration Canada (CIC), and will be returned to you after about five years, without interest.  In the meantime, your investment will be used by provincial governments to create jobs, boost regional economies, and build a stronger Canada.

In uncertain financial times, Canada is a solid place to invest your money.  The World Economic Forum has recently given Canada top prize for its “soundness of banks” among 134 countries, many of whom are currently looking to Canada as a model as they attempt to restructure their unstable banking systems.  Additionally, Canadian securities firms are currently welcoming top talent from major financial hubs such as London and New York, who are flocking to Toronto where job prospects for bankers and traders are much more promising.

In addition to the C$400,000 investment requirement, Immigrant Investor applicants must demonstrate that they have at least two years of business management experience and a minimum net worth of C$800,000.  The fair market value of all your assets and the assets of your spouse or common-law partner may be combined (minus your combined liabilities) to reach this net worth requirement.

You will also need to obtain at least 35 points on a selection grid based on your education, business experience, English/French language ability, age, and adaptability, and you will need to satisfy medical and security requirements.

Federal Business immigration applications receive priority processing; however, processing times vary depending on which visa office your application will be submitted to.

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With its stable banking system and solid economic history, Canada has been weathering the economic slowdown better than many other industrialized countries.  Some individuals seeking greater economic stability are turning to Canada as an immigration destination and as a secure place to make an investment.

One case in point is the surge in interest among financial workers abroad in coming to work in the Canadian securities market.  Canadian securities firms have not been cutting jobs as aggressively as bigger rivals from around the world.  As a result, bankers and traders from London, New York, and other financial hubs are setting their sites on the Toronto job market, providing an opportunity for Canadian securities firms to recruit top talent.

A representative of Vlaad and Co., a Toronto firm that helps traders and bankers find jobs, says that in Canada “there is a good deal of optimism relative to the rest of the globe.”

“We are getting so many calls inbound from expats – repatriation of Canadians who are in Dubai, London, or New York.”

There has also been a slight upswing in business immigration in British Columbia (BC), according to an agency that helps immigrants settle in the province.  Thomas Tam, of Success CEO, says that more wealthy business people have immigrated to BC in recent months.

“In the good economic times, all those business people are busy making money and they don’t have the time for immigration, because time is money,” he said.  “But during the slow time, that’s a time for them to look for immigration options for their family, for their children.”

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Sun Media reports that the immigration department is working on a plan to fast-track some business travellers to Canada. Business visitors will then be able to obtain visas much faster than other visitors.

If the plan is put in place employees of established companies that have operations in Canada could be able to get visas in about one or two days.

“As we recognize that business is important to the economy of Canada, we’re looking at streamlining the process for business visitors, where we can use the key links between companies that we know exist and are already well-known to the mission, to streamline those processes,” assistant deputy minister Claudette Deschenes told members of Parliament’s immigration committee.

Deschenes’s remarks were made in a recent “informal” meeting of the immigration committee. A transcript of the meeting prepared for MPs was leaked to Sun Media.

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Credit unions in Nova Scotia have developed a program that is intended to provide funding to new immigrants who have an interest in starting, expanding, or buying a small business in the province. The program, which makes loans of up to CAD$150,000 available to Canadian immigrants, facilitates the opportunity to own and operate small businesses, to establish roots in the province, and to contribute to Nova Scotia’s prosperous economy.

The program is intended to aid new immigrants by helping to bypass ordinary barriers in establishing a credit history in a new country. The Department of Economic and Rural Development will contribute CAD$2 million in loan guarantees, while the office of immigration will contribute CAD$100,000 a year for operating expenses.

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Citizenship and Immigration Canada established the Immigrant Investor Program to promote economic development and employment in Canada by attracting people with capital, business acumen and/or solid managerial skills for business immigration to Canada.

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You may be able to qualify for the MPNP -B, which will help to fast-track your application for permanent residence to the province of Manitoba.  Please review the MPNP-B requirements below to see if you qualify:

*  Minimum personal net worth of CDN$350,000.
*  Minimum amount of equity investment in Manitoba of CDN$150,000.
*  Demonstrated business ownership experience or
- a minimum of 3 years experience in a senior management role of a successful company. In a partnership situation, the applicant
must have a minimum of 33 1/3 shares and play an active management role in the business.
* Conducted an exploratory visit to Manitoba to investigate business opportunities and Manitoba’s quality of life for a minimum of 7
days.
* Following approval of your application you will be required to make a $75,000 cash deposit to the Government of Manitoba,
guaranteeing the establishment or purchase of a business in Manitoba. The cash deposit will be refunded to you when the
investment is made, and the intended business is undertaken as outlined in your application.

Important: Qualified  business people from around the world who have been recruited and nominated by the province of Manitoba must have the intent and ability to move to Manitoba and establish, purchase a business or become partners in an existing business.

>  Contact our licensed immigration consultants to find out more about this program or other PNPs.

Source: Government of Manitoba

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Canada needs to take a fresh approach to immigration if it wants to avoid worsening labour shortages, the federal finance minister has been told.

Attracting and retaining skilled workers from abroad was a key issue at a private, invitation-only forum held near Ottawa last week with Jim Flaherty and Canadian business leaders and academics. More than two dozen people from all walks of Canadian life – universities, big banks, Bay Street, authors and environmentalists – met for two days in Merrickville in Eastern Ontario.

“There were lots of ideas … relating to openness, in terms of mobility within Canada …,” Flaherty said in a telephone interview. One way of attracting and retaining workers is to provide incentives for non-Canadian students to enter Canadian universities. Many are staying in Canada, and joining the workforce, after completing their education.

Source: The Canadian Press

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