Coming to Canada as a Business Immigrant
Citizenship and Immigration Canada (CIC) administers the Immigration and Refugee Protection Act and the Citizenship Act. Its mission is to build a stronger Canada by:
- maximizing the benefits from the global movement of people;
- protecting refugees at home and abroad;
- defining membership in Canadian society; and
- managing access to Canada.
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 $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 have the ability to 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 live 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 a prescribed investment of $400,000, payable to the Receiver General of 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 $800,000; and
3. For at least two years in the period beginning five years before the date of application, have either:
- managed and controlled a percentage of the equity of a qualifying business, or
- managed at least five employees or full-time job equivalents per year in a business.
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 $500,000;
- the percentage of equity, multiplied by the net income for the year, is equal to or greater than $50,000; or
- the percentage of equity, multiplied by the net assets at the end of the year, is equal to or greater than $125,000.
Requirements for entrepreneurs
To be eligible for immigration as an entrepreneur, an applicant must:
1. Have managed and controlled a percentage of the 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 $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, other than the entrepreneur and his or her family members, for a period of at least one year within three years of arriving in Canada.
To establish whether a business is a “qualifying Canadian business” during a year for the purposes of 3) 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 $250,000;
- the percentage of equity, multiplied by the net income for the year, is equal to or greater than $25,000; or
- the percentage of equity, multiplied by the net assets at the end of the year, is equal to or greater than $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:
- self-employment or participation at a world-class level in cultural activities;
- self-employment or participation at a world-class level in athletics; or
- 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 to purchase and manage a farm.
Selection criteria
To be eligible for selection as business immigrants, applicants must first meet the definition of the class under which they are applying (investor, entrepreneur or self-employed person). Applicants are then assessed against five selection criteria and must obtain a minimum of 35 points.
