The Entrepreneur program is another route through which individuals can immigrate to Canada. Through this program, the Canadian government seeks to encourage experienced business people who wish to own and manage a business in Canada which will create revenue and generate employment opportunities for Canadians.
In order to apply under this program, candidates must satisfy the following criteria:
- Applicants must be able to prove they have business experience through having managed and controlled a percentage of the equity of a business
- Have a minimum net worth of CDN$300,000
- Applicants must be capable of owning and managing a Qualifying Canadian Business within three years of becoming a permanent resident
- The business must create at least one full-time employment opportunity for a Canadian citizen or resident
- Applicants are required to earn sufficient points in the selection criteria in order to be awarded adequate points for education, language proficiency, age, work experience, and ability to adapt to life in Canada.
Outline
Provinces which participate in these programs use the investments in the province to generate jobs and assist the growth of their economies.
The Entrepreneur visa provides a means by which individuals can be eligible for permanent residence in Canada. Unlike other temporary Canadian visas, there are no limits imposed upon the work that can be undertaken.
Applicants who wish to apply for this visa must be investors who can show they have two years of business experience and a net worth of CDN $300,000.
Applicants must agree to own and manage one third of a business for at least a year which will generate at least one job opportunity for a Canadian citizen or permanent resident.
Process
In addition to the above criteria, the Entrepreneur immigrant visa also requires that applicants satisfy a points based criteria. The criteria rates candidates based on their language proficiency, education, experience and age.
Business experience - applicants may be eligible for 20-35 points which are calculated on the number of years of business experience the applicants has gained within the 5 years preceding the application.
Education - Applicants may be eligible for 5-25 points based on their education. Points in this category are awarded for the applicant's highest academic achievement and the number of years spent in full time education.
Language Proficiency - Applicants will be required to have an adequate grasp of either English or French as points are awarded for language skills. Bilingual candidates will need to nominate one language as their 'first language' and points will be awarded based on the four central areas of speaking, listening, reading and writing.
Age - Points are also awarded for an applicant's age, with ten points being the maximum for those between the ages of 21 and 49. For each year beyond this range, two points are subtracted with a cut off point of below 17 and over 53 years of age.
Adaptability - Applicants will also be awarded points based on their ability to adapt to the Canadian business environment. This can be demonstrated by either visiting Canada for an exploratory business trip within the five years directly preceding your application or having participated in a joint federal-provincial business based immigration initiative.
Under the Canadian business visa applications, candidates are allowed to bring their family to join them in Canada.
