The Entrepreneur Class visa is aimed at people with a demonstrated successful business background with a genuine intent to own a business in Canada. The business can be a new venture or buy into an existing Canadian Business.
Once granted, the Entrepreneur Class visa allows you to:
- Establish a new or existing business in Canada
- Live and Work in Canada with your dependent family as Permanent Residents
- Multiple entries into Canada for as long as the visa is valid
- Apply for Canadian Citizenship within 4 years
You must meet the basic requirements of this visa prior to applying, which include the following:
- Must have managed and controlled a qualifying business for at least two of the five fiscal years immediately before you apply
- Depending on whether your business is a Sole Proprietorship, corporation or joint venture you must have controlled a certain percentage of equity in the qualifying business
- Must have a minimum net worth of CAD300,000.00
In addition to meeting the basic eligibility requirements, you need to achieve a basic score in the Business Migration to Canada points test. The pass mark for all Business Immigrants is currently 35. The categories to acquire points are broken down to assess Age, English language, Business Experience, Qualifications and various other adaptability points.
A qualifying business is any business other than one that solely operates for the purpose of deriving interest or capital gains i.e. property investment. There are however other factors to take into consideration when assessing ‘qualifying businesses’ and so if you meet the above minimum requirements and wish to know more, please get in touch!