Entrepreneurs with a Three-Year Term (Terms and Conditions - New Regulations)

Qualification Criteria

Entrepreneur applicants must meet all of the following criteria:

1. They must have business experience. Business experience, in respect of an Entrepreneur, means the management of a "qualifying business" and the control of a percentage of equity of the qualifying business for at least two years in the last five years.
   
   "Qualifying business"* means a business operated by the entrepreneur applicant for which there is, in any two years within the last five years, evidence of any two of the following four criteria:
    
   • % equity x number of full-time jobs:  at least two full-time jobs** per year;
   • % equity x total annual sales:  at least CAD$ 500,000;
   • % equity x net income*** in the year:  at least CAD$ 50,000
   • % equity x net assets at the end of the year:  at least CAD$ 125,000.

   * A business primarily for the purpose of deriving investment income, such as interest, dividends or capital gains is excluded.

   ** Two full-time jobs may include the Entrepreneur applicant.
   *** Net income is the after tax profit or loss of the business plus owner's remuneration.
   
    

2. They must have a legally obtained minimum total personal net worth* of CAD$ 300,000.
   * Net worth amount may include spouse's or common-law spouse's.
   
   
3. They must provide a written statement to an immigration officer stating that they intend to and will be able to meet the terms and conditions.  <Note> The new immigration regulations for the Entrepreneurs category exclude the employed managers who are not equity owners of the business.