Business Migration Visa
The Business Migration program to Canada aims to attract experienced business people to invest or to initiate a business venture in order to strengthen the Canadian economy. Business immigrants are selected based on their ability to become economically established in Canada.
Canada has 4 classes of business immigrants, each with separate eligibility criteria:
(a) Investor Migration
(b) Entrepreneur Migration
(c) Self Employed Migration
(d) Start-up Migration
Note: Immigration, Refugees and Citizenship Canada (IRCC) have temporarily stopped accepting applications from people who wish to immigrate to Canada under the Entrepreneur Migration Scheme and under the Investor Migration Program.
(a) Investor Migration
To immigrate to Canada according to the Immigrant Investor Program (IIP), the applicant needs to demonstrate business experience, a legally obtained minimum net worth of $CAN 1,600,000 and must make an investment of $CAN 800,000.
The $CAN 800,000 investment is required to be deposited with Immigration, Refugees and Citizenship Canada (IRCC) for a period of five years. After the five year period has expired the investment is returned to the applicant without interest. The investment is fully guaranteed by the Canadian provinces that use the investment to strengthen their economies and create jobs.
In addition to the above requirements, the applicant must be assessed against the five selection criteria described below and must obtain a minimum of 35 points.
The five selection criteria are as follows:
i. Business experience
The applicant is required to prove that he/she has within the period beginning five years before the date of the application had at least two years of business experience (2 years of business experience will give the applicant 20 points). For every year thereafter to a maximum of 5 years, an additional 5 points are awarded, namely for five years business experience a maximum of 35 points is awarded.
ii. Age
Points are awarded for age at the time the application is received. A maximum of 10 points is awarded for the age group 21-49.
iii. Education
A maximum of 25 points is awarded to an applicant with a masters degree or a PhD and at least 17 years of full time or full time equivalent studies.
iv. English and French language ability
A maximum of 24 points is awarded for proficiency in the English and French languages according to the applicant’s ability to read, write, listen and speak in these languages. The results achieved in the recognized language examinations determine the number of points awarded.
v. Adaptability
A maximum of 6 points is awarded for a business exploration trip to Canada made by the applicant in the period beginning five years before the date of his/her application or
if the applicant participated in a joint federal-provincial business immigration initiative.
Documentation must be submitted to prove any of the above.
(b) Entrepreneur Immigration
The Entrepreneur Immigration Program allows an applicant with business experience and a legally obtained minimum net worth of $CAN 300,000 to immigrate to Canada as a permanent resident together with his/her spouse or common-law partner and dependent children. However, the applicant must commit to managing and owning at least one-third of a business for at least one year within his/her three years of arrival in Canada and to create at least one incremental full-time job equivalent for one or more Canadian citizens or permanent residents other than the entrepreneur applicant and his/her family members. An applicant must be willing to sign a declaration stating that he/she intends and will be able to meet these conditions which are also applicable to his/her family members. These conditions are administered by Immigration, Refugees and Citizenship Canada (IRCC) after one arrives in Canada.
In addition to the above, the applicant must obtain 35 points from the same five criteria that are detailed in the Investor Visa section above.
(c) Self Employed persons
The Self-Employed Migration option allows an applicant with relevant experience in culture, athletics or farm management to immigrate to Canada provided that he/she makes a significant contribution to the cultural or athletic life of Canada or purchases and manages a farm in Canada. As of March 10, 2018 no new applications under the farm management stream are being accepted.
To be eligible under this category, the applicant must have been self -employed in cultural activities or athletics or participated at a world-class level in cultural activities or athletics or have had farm management experience.
In addition to the above, the applicant must obtain 35 points from the five selection criteria listed below:
i. Relevant experience
The applicant must prove that he/she has relevant experience within the period beginning five years before the date of the application.
Two years of relevant experience – 20 points
Three years of relevant experience – 25 points
Four years of relevant experience – 30 points
Five years of relevant experience – 35 points
ii. Age
Points are awarded for the age of the applicant at the time the application is filed.
iii. Education
A maximum of 25 points is awarded to an applicant with a masters degree or a PhD and at least 17 years of full time or full time equivalent studies.
iv. English and French language ability
A maximum of 24 points is awarded for the applicant’s ability to read, write, listen and speak in the English and the French languages according to the results achieved in one of the recognized language examinations accepted by Immigration, Refugees and Citizenship Canada (IRCC).
v. Adaptability
A maximum of 5 points is awarded for adaptability factors including: the spouse or common-law partner’s level of education; if the applicant or his/her spouse or common-law partner have studied or worked in Canada; and if the applicant or his/her spouse or common-law partner has immediate close family in Canada.
(d) Start-Up Visa
The Start-Up Visa category is an initiative from the Canadian Government to encourage immigrant entrepreneurs to contribute to the Canadian economy as working residents.
Before applying for this visa, you must:
- Prove your business venture or idea is supported by a designated organization with a Letter of Support from that organization.
- Show you created a business.
- Prove your French or English proficiency in all areas of the language (Speaking, Reading, Writing, Listening) by scoring a grade of at least level 5 Canadian Language Benchmark (CLB) in the Canadian English Language Proficiency Index Program (CELPIP) test or equivalent.
- Proof of sufficient funds. The amount of funds is dependent on the family size.
For each additional family member $3361
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You may be eligible for a number of different visa categories. Each visa category has different requirements and obligations so that it is best to seek professional advice in order to select the visa most beneficial and suitable to your circumstances
Kangaroo Migration Services is a company that has for many years dealt with and continues to deal with immigration and the obtaining of all types of visas (short term and long term) to Canada.
Please feel free to contact us to discuss with our representative the options available to you and/or to complete our questionnaire and send it to us.