Law Corporation

IMMIGRATION TO CANADA: BUSINESS CATEGORIES

Canada encourages experienced business people to come to Canada and use their money and experience to promote economic development. There are three business categories:

All three categories require that the applicant have specific experience and sufficient money to make the necessary investment or carry out his plans in Canada.

Investor

An Investor must:

(a)  have business experience, which means either:

      (i)  managing a qualifying business (which means, in each of any two years from a date five years before the date the application is filed to the date a decision is made, two of the following are true: 

           1.  percentage of equity ("poe") x full-time job equivalents ≥ 2;

           2.  poe x total annual sales ≥ $500,000;

           3.  poe x net income ≥ $50,000;

           4.  poe x net assets ≥ $125,000.

            AND         

        (ii)  having control of a percentage of the equity of the qualifying business for at least two years within the period starting five years before the 

              application is filed and ending when a decision is made.

              (percentage of equity means either:

              - 100% of a sole proprietorship or

              - percentage of shares of a corporation controlled by the applicant and spouse or common law partner, or

              - for a partnership, the portion of the profit and loss that the applicant and spouse or common law partner are entitled to.)

              OR

        (iii)  the management of at least five full-time job equivalents per year in a business for at least two years within the period starting five years

              before the application is filed and ending on the date a decision is made with respect to the application.

(b)  have a legally obtained net worth of at least $800,000.

      (Net worth means the fair market value of all of the assets of the investor and spouse or common law partner, minus the fair market value

      of all liabilities.)

(c)  indicate in writing to an officer that they intend to make or have made an investment.

      (Investment means the sum of $400,000 paid to an approved agent and non-refundable for the allocation period, which currently is five years.) 

Entrepreneur

An entrepreneur must:

(a)  have business experience, which means:

      (i)  managing a qualifying business (which means, in each of any two years from a date five years before the date the application is filed to the

           date a decision is made, two of the following are true:

           1.  percentage of equity ("poe") x full-time jobe equivalents ≥ 2;

           2.  poe x total annual sales ≥ $500,000;

           3.  poe x net income ≥ $50,000;

           4.  poe x net assets ≥ $125,000.

          AND

      (ii)  having control of a percentage of the equity of the qualifying business for at least two years within the period starting five years before the       

            application is filed and ending when a decision is made.

            (percentage of equity means either:

            - 100% of a sole proprietorship, or

            - percentage of shares of a corporation controlled by the applicant and spouse or common law partner, or

            - for a partnership, the portion of the profit and loss that the applicant and spouse or common law partner are entitled to.)

(b)  have a legally obtained minimum net worth which is at least $300,000.

      (Net worth means the fair market value of all of the assets of the investor and spouse or common law partner, minus the fair market value of

      all liabilities.)

(c)  provide a written statement that they intend and will be able to meet the conditions in s.98(1) to (5)

      (i.e., the entrepreneur will:

      (i)  control ≥ 1/3 of the equity of a qualifying Canadian business;

      (ii)  provide active and ongoing management;

      (iii) create at least one full-time job equivalent for a Canadian or permanent resident other than the entrepreneur and family members.)

      (A qualifying Canadian business means a business operated in Canada by an entrepreneur, other than a business operated primarily for the

      purpose of deriving investment income, for which, in any year within three years after landing, there is documentary evidence of any two of the

      following:

      (i)    poe x number of full-time job equivalents is ≥ 2;

      (ii)   poe x total annual sales is ≥ $250,000;

      (iii)  poe x net income ≥ $25,000;

      (iv)  poe x net assets ≥ $125,000.)

Self-Employed

A self employed person must have:

1.  " relevant experience " which means experience for two years within the period starting  five years before the application is filed and ending as the date decision is made,  in one of the following areas:

    (a)    self employment in cultural activities or athletics;

    (b)    participation at a world class level in cultural activities or athletics; or

    (c)    forum management experience.

2.  the intention and ability to be self employed in Canada and to make a significant contribution to specified economic activities in Canada.

    " Specified economic activities " means cultural activities,  athletics on the purchase and management of a forum.

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