Business Immigration FAQ's

Business Immigration

Q. What does Canadian Business Class mean?

Canadian Immigration has several categories, and the Canadian Business Class is one of them. Under this, relatively high net-worth individuals with business or managerial experience can qualify for Canada Immigration or Permanent Resident visa.

This class has three further sub-categories:

  • Entrepreneurs
  • Self-employed Persons
  • Immigrant Investors

Q. Which documents have to be provided along with an application under the Canadian Business Class?

Here’s the list of documents:

  1. Immigration, Refugees and Citizenship Canada (IRCC) application forms
  2. Education-related documents
  3. Status documents, like passport, birth/marriage certificates, etc.
  4. Documents proving your business and/or managerial experience
  5. Documents proving your net worth

Q. Under Canadian Business Class, is the applicant required to live in a particular province in Canada?

Even if you have shown indication towards a particular province or territory in Canada on your application form, once you become a Canadian permanent resident, you can live, work or perform business activities in any region in Canada.

This freedom does not apply to Quebec where entrepreneurs are required to establish or acquire a portion of a commercial enterprise in that province in order to manage it.

Q. Which qualifications are required for the Immigrant Investor Program?

Kindly note that the Federal Investor Program was terminated on June 19, 2014.

Here are the conditions of the Federal Investor Program:

  • You should have a net worth of at least CAD$1.6 million that has been obtained in a lawful manner.
  • You should have adequate funds to invest CAD$800,000 (financing too is available for this) for a period of five years with the IRCC, which is an agent of provincial and territorial investment funds.
  • You should either have managed or owned an equity interest in a qualifying business (as defined under IRCC Regulations)

OR

For any two years within the last five years, you should have managed or supervised at least five employees.

Here are the conditions for an Immigrant Investor who is planning to reside in Quebec:

  • You should have a net worth of at least CAD$1.6 million that has been obtained in a lawful manner.
  • You should have adequate funds to invest CAD$800,000 for a period of five years in an investment fund of the Quebec government.
  • For any two years within the last five years, you should have managerial experience in a:
  • Commercial enterprise
  • Industrial enterprise
  • Agricultural enterprise
  • Government organization
  • Governmental organization
  • International organization

The Immigrant Investor Venture Capital Pilot Program is closed temporarily. New applications are not being accepted at this time.

If you are an immigrant investor seeking to reside anywhere in Canada but Quebec and want to go for the Immigrant Investor Venture Capital (IIVC) Pilot Program, here’s the list of requirements that you have to meet:

  • You should have a net worth of at least CAD $10 million that has been obtained in a lawful manner.
  • You should have adequate funds to invest CAD $ 2 million for a period of 15 years in the Immigrant Investor Venture Capital Fund.
  • You must hold a Canadian post-secondary degree/diploma/certificate of at least one year.

OR

  • You must have a validated foreign equivalent Educational Credential Assessment (ECA) report from a designated organization.
  • You should be able to demonstrate sufficient language proficiency, which means getting:
  • A CLB 5 in English/French in all four language abilities – reading, writing, speaking, and listening. For this, you have to provide results from a language competency test taken in the past two years. This test has to be taken at a designated testing agency.

Q. What documentary proofs will I have to show to prove my net worth has been lawfully obtained?

All such proofs must demonstrate the origin and accumulation of your wealth. These documents should comprise reliable, third-party documentary evidence. For example:

  • Tax returns
  • Pay stubs
  • Deeds of purchase or sale
  • Statements from stockbrokers
  • Business/real estate valuations

All such proofs should demonstrate that your assets, including gifts or inheritances, were gained through legal means.

Q. Is there an obligation for me as an Immigrant Investor to work and/or engage in business activities in Canada?

There is no such obligation.

Q. As an Immigrant Investor, when do I have to commit my investment amount?

Under the Immigrant Investor Venture Capital Pilot Program, the investment has to be made once the application of the candidate gets approval.

All information related to funding management, its terms, and conditions, etc. is given in the agreement that the immigrant investor enters into with the IRCC. The agreement has to be signed prior to the applicants making their CAD $2 million non-guaranteed, at risk, investment.

If you want to immigrate via the Quebec Investor Program, you have to commit CAD $800,000 as the investment amount before you receive the final approval from Quebec immigration officials.

Q. If my Immigrant Investor application is denied, will my investment amount be returned to me?

If you are under the Immigrant Investor Venture Capital Pilot Program, you have to invest only if your application is approved. Once approved, you have to invest CAD $2 million in the Immigrant Investor Venture Capital Fund for approximately 15 years.

Do note that this is an at-risk investment. It is possible that you may lose some or all of this investment. On the other hand, as is the case with any venture capital investment, you may receive proceeds either overtime or towards the investment term’s end. These proceeds depend on the IIVC Fund’s performance.

If you are under the Quebec Investor Program, the government of Quebec guarantees the investment of CAD $800,000, and this amount is returned in full after a period of five years.

Q. How is the Quebec Immigrant Investor program different from the federal one?

The Quebec Immigrant Investor Program considers managerial experience in a government, governmental, or international organization. So, it appeals to people from a wide range of backgrounds.

Q. What are the qualifying requirements under the Entrepreneur Program?

Here are the requirements if you are going to reside anywhere, but Quebec, in Canada.

  • You should have a net worth of at least CAD $300,000 that has been obtained in a lawful manner.
  • You should hold managerial and ownership experience in a qualifying business that has been delineated under the Regulations.
  • You should establish or acquire a qualifying Canadian business, which you will manage actively. Also, you must own at least 33.33 percent equity in it.
  • You will also have to create a minimum of one new job for either a Canadian citizen or a permanent resident in the business.

Here are the requirements if you are going to reside in Quebec:

  • You should have a net worth of at least CAD $300,000 that has been obtained in a lawful manner.
  • You should hold two years’ managerial experience during the last five years.
  • At least 25 percent capital equity in a profitable commercial, industrial or agricultural business should be under your control.
  • You will have to submit a business project that clearly demonstrates your intention of creating or acquiring a business in Quebec which shall be managed and owned by you with at least 25 percent capital equity of the value of at least CAD$100,000 in your name.

OR

You have got a business in Quebec which meets all the same requirements.

Here are the requirements if you are an applicant for a Start-Up Visa:

  • You must have the minimum language requirements in English or French language – you should get CLB 5 in all four abilities.
  • You must have completed at least one year of post-secondary education in an educational institution and during that time you were in good standing there.
  • You should have adequate funds that will help you settle in Canada.
  • You want to settle in any Canadian province or territory, except Quebec.
  • You have completed all Canadian security and medical clearances.

Q. Under the Entrepreneur Program, which conditions are attached to a Canada Immigration Visa?

When an entrepreneur arrives in Canada under this program, within three years, you should:

  • control one-third or more equity of a qualifying Canadian business
  • actively manage the qualifying Canadian business
  • set at least one full-time job for a Canadian citizen or Permanent Resident other than yourself or your family members

You may lose Canadian permanent residency if you are unable to fulfill these stipulations.

Q. As an entrepreneur, do I necessarily have to make an exploratory visit to Canada?

Yes, you are encouraged to make an exploratory visit so that you are able to properly evaluate the business environment of the area you want to set it up in.

Q. Do I have to submit a detailed business plan?

No, you are not. However, you will have to do so if you intend to establish or acquire a business in Quebec.

Q. What are the qualifying requirements under the Self-Employed Persons Program?

First, you should be able to show the intention, ability, and experience required to either establish or acquire a business in Canada which will ensure your own employment while leading to a noteworthy impact on activities like farming or athletics in Canada. Second, your business should create adequate revenue to support you and your family/dependents.

If you are going to be in Quebec:

  • You should have a net worth of at least CAD $100,000 that has been obtained in a lawful manner.
  • You should hold at least two years of experience as a self-employed worker in the occupation you want to pursue in Quebec. However, your field of activity must not be limited to culture, athletics, or farming.

Q. As a Self-Employed Person, do I necessarily have to make an exploratory visit to Canada?

Yes, you are encouraged to make an exploratory visit so that you are able to properly evaluate the business, cultural or artistic environment of the area you want to locate in.

Q. I am a self-employed person. Do I have to hold a minimum net worth?

The net worth for self-employed individuals will vary on the basis of the location and nature of the venture.

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