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Frequently Asked Questions |
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- How can I immigrate to Canada under business class immigration?
Canada has a strong economic culture. If you have experience running or investing in businesses, you may qualify to come to Canada as a business immigrant.
Business immigrants are people who can invest in, or start businesses in Canada and are expected to support the development of a strong and prosperous Canadian economy. Canada welcomes three classes of business immigrants: Investors, Entrepreneurs and Self Employed persons. Business immigrants are selected based on their ability to become economically established in Canada.
- Under business immigration regulations, how is the investor category different from the entrepreneur category
Unlike the entrepreneur category, the investor need not play an active role in the management of a business in Canada, nor does he or she need to create any jobs. Another difference is that an entrepreneur must have a legally obtained net worth of at least CDN $300,000, whereas an investor is required to make a prescribed investment of CDN $400,000 and demonstrate a legally obtained net worth of at least CDN $800,000.
- I have applied for a permanent resident visa for Canada and would like to start a small Canadian business. Is it possible to start up a business before I actually get the visa or do I have to wait till I receive it?
Generally, people wait until they receive their permanent resident visa and are landed in Canada before starting their business.
You may be able come to Canada on a visitor visa while your permanent resident application is in process and research potential businesses and even buy a business in advance - but you may not work in the business without a valid work permit, so normally it would involve hiring a manager or other employee(s) to manage the business for you.
There is also some risk involved in setting up the business in advance, as you may not ultimately be approved for a permanent resident visa.
- Can an individual who does not have permanent residency status in Canada establish a business in Canada without obtaining further residency status by hiring Canadians to operate the business?
Yes
- As an immigrant entrepreneur when I set up a small business in Canada, do I have to hire a certain number of Canadians?
According to regulatory requirements for qualifying as an immigrant entrepreneur, an entrepreneur must create at least one incremental full-time job equivalent for Canadian citizens or permanent residents, other than the entrepreneur and his/her family members. In addition to this, an entrepreneur who becomes a permanent resident of Canada must fulfill other conditions.
- What are the different business structures available for establishing a business in Canada?
A person or company looking to establish and operate a business in Canada has a choice of several different business structures. The appropriate structure depends on numerous factors including the nature and location of the business, liability and general issues of exposure, the entity's financing requirements, and tax considerations. In Canada, the three basic business structures available are: the sole proprietorship, the partnership, and the corporation.
- Under the Business Immigration Program, am I required to live in a particular province?
After becoming a Canadian Permanent Resident, you may live, work and engage in business activities in any Canadian province or territory, regardless of where you initially indicated you intended to reside on your application form. However, as an Entrepreneur intending to reside in the Province of Quebec you will be required to manage a commercial enterprise, which you must establish or acquire a portion of, in that province.
- How can I prove that my net worth has been lawfully obtained?
You must demonstrate the origin and accumulation of your wealth through reliable, third-party documentary evidence: tax returns, pay stubs, deeds of purchase/sale, statements from stockbrokers, business/real estate valuations, etc. You must be able to demonstrate that your assets were gained through means, which are considered legal, including gifts or inheritances.
- As an Entrepreneur applicant, is an exploratory visit to Canada necessary?
As an Entrepreneur applicant, you are encouraged to make an exploratory visit to Canada to properly assess the business environment of the area in which you intend to locate
- Will my investment be returned to me if my Immigrant Investor application is refused?
Yes, your money will be promptly refunded by Citizenship and Immigration Canada or Quebec Immigration officials, as the case may be
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