BUSINES
CONDITIONS
Entrepreneurs
Entrepreneurs must have business experience. They must have managed and controlled a percentage of equity of a qualifying business (see Definitions) for at least two one-year periods in the period beginning five years before the date of application and ending on the day a determination is made on the application.
The entrepreneur class applicant must have a net worth of at least $300,000. Additionally, they must have the intention and the ability to:Control a percentage of equity of a qualifying Canadian business equal to or greater than 33 1/3 %; Provide active and ongoing management of the qualifying Canadian business; and
Create at least one incremental full-time job equivalent for one or more Canadian citizens or permanent residents other than the entrepreneur applicant and their family members.
Entrepreneurs are required to sign a declaration stating they intend and will be able to meet the conditions of permanent residence.
Investors,
Investors must have business experience. They must have either:managed a qualifying business and controlled a percentage of equity of a qualifying business (see Definitions) for at least two years in the period beginning five years before the date of application and ending on the day a determination is made on the application, or they must have managed at least five full-time job equivalents (see Definitions) per year in a business for at least two years in the period beginning five years before the date of application and ending on the day a determination is made on the application, or a combination of a one-year period of experience described in subparagraph
(a) and a one-year period of experience described in subparagraph,
(B).The investor class applicant must have a net worth of at least $800,000. They are required to make an investment of $400,000, paid to the Receiver General of Canada. The investment is subsequently allocated to participating provinces and territories in Canada. These governments use the funds for job creation and economic development. The full amount of the investment (without interest) is repaid to the investor after five years. The exact date of repayment depends on when the $400,000 is received by Citizenship and Immigration Canada. At the latest, the amount would be returned five years and 3 months after the date of payment. The return of the investment is fully guaranteed by participating provinces and territories.
Definitions
Full-time job equivalent: Defined as 1,950 hours of paid employment.
Qualifying business: A business—other than a business operated primarily for the purpose of deriving investment income such as interest, dividends or capital gains—for which, in each of any two years in the period beginning five years before the date of application and ending on the date of the interview decision, there is proof of any two of the following:
That the percentage of equity multiplied by the number of full-time job equivalents is equal to or greater than two full-time job equivalents per year;
That the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000;
That the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000; and
That the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000.
Relevant experience: In respect of a self-employed person, means For at least two one-year periods in the period beginning five years before the date of application and ending the day a determination is made on the application.
Self-employment in cultural activities or athletics; or Participation, at the world-class level, in cultural activities or athletics; or Farm management experience. Note: If relevant experience involves cultural or athletic activities, a combination of a one-year period of self-employment and a one-year period at the world class level is acceptable.
You must meet all criteria at the time you submit your application.
