F A C T   S H E E T   1 7
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BUSINESS IMMIGRANTS

 
SNAPSHOT

To support the development of a strong and prosperous Canadian economy, Canada welcomes three classes of business immigrants: investors, entrepreneurs and self-employed persons.

Investors must make a CDN $400,000 investment that is used by the provinces for economic development and job creation.

Entrepreneurs must own and manage a business in Canada that creates employment for Canadian citizens or permanent residents.

Self-employed persons must employ themselves and make significant contributions to cultural activities, athletics or farming.

Note:The following information does not apply to business immigrants who intend to reside in the Province of Quebec. Under the Canada-Quebec Accord, Quebec selects its own business immigrants.

REQUIREMENTS FOR INVESTORS

To be eligible for immigration as an investor, an applicant must:

1. make an investment of CDN $400,000, payable to the Receiver General for Canada. This investment is subsequently allocated to participating provinces and territories in Canada, which use the funds for job creation and economic development. The full amount of the investment (without interest) is repaid to the investor after approximately five years. The return of the investment is fully guaranteed;
2. have a legally obtained net worth of at least CDN $800,000; and
3. have either managed and controlled a percentage of equity of a qualifying business for at least two years in the period beginning five years before the date of application, or managed at least five full-time job equivalents per year in a business for at least two years in the period beginning five years before the date of application.

 
REQUIREMENTS FOR ENTREPRENEURS

To be eligible for immigration as an entrepreneur, an applicant must:

1. have managed and controlled a percentage of equity of a qualifying business for at least two years in the period beginning five years before the date of application;
2. have a legally obtained net worth of at least CDN $300,000; and
3. intend and be able to manage and control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 percent, and create at least one full-time job equivalent for Canadian citizens or permanent residents for a period of at least one year within three years of arrival in Canada.

To establish whether a business is a "qualifying Canadian business" during a year for the purposes of iii) above, the business must not have been operated primarily for the purpose of deriving investment income (such as interest, dividends or capital gains), and an applicant must provide documentary evidence that the business meets at least two of the following criteria:

• 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;
• the percentage of equity, multiplied by the total annual sales, is equal to or greater than CDN $250,000;
• the percentage of equity, multiplied by the net income in the year, is equal to or greater than CDN $25,000; or
• the percentage of equity, multiplied by the net assets at the end of the year, is equal to or greater than CDN $125,000.

To establish whether a business is a "qualifying business" during a year for the purposes of selecting investors and entrepreneurs, the business must not have been operated primarily for the purpose of deriving investment income (such as interest, dividends or capital gains), and the applicant must provide documentary evidence that the business meets at least two of the following criteria:

• 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;
• the percentage of equity, multiplied by the total annual sales, is equal to or greater than CDN $500,000;
• the percentage of equity, multiplied by the net income in the year, is equal to or greater than CDN $50,000; or
• the percentage of equity, multiplied by the net assets at the end of the year, is equal to or greater than CDN $125,000.

 
REQUIREMENTS FOR SELF-EMPLOYED PERSONS

To be eligible for immigration as a self-employed person, an applicant must have at least two years of one of the following types of experience in the period beginning five years before the date of application:

1. self-employment in cultural activities or athletics;
2. participation at a world-class level in cultural activities or athletics; or
3. farm management experience.

Self-employed persons must have the intention and ability to be self-employed in Canada and to make significant contributions to cultural activities or athletics, or by purchasing and managing a farm.

 
SELECTION CRITERIA

To be eligible for selection as business immigrants, applicants must first meet the definition of the class to which they are applying (investor, entrepreneur, self-employed). Applicants are then assessed against five selection criteria and must obtain a minimum of 35 points.

The selection criteria and maximum points allocated are as follows:

Important notes:

1. Selection is based on the documents provided and the qualities of the applicant, as assessed against the selection criteria. An interview may be required. A visa officer will ask the applicant to explain any ambiguities, inconsistencies, shortcomings or gaps in these documents during the interview.
2. The pass mark on June 28, 2002 is 35 points for all business immigrants; however, the pass mark can change at the direction of the Minister.
3. All dollar amounts cited in this fact sheet are in Canadian dollars.

© Minister of Public Works and Government Services Canada, 2002
Cat. No.: Ci51-111/2002-17
ISBN 0-662-66653-4
C&I-490-E-07-02