VISA TYPES

Business Class - Investor, Entrepreneur & Self-Employed

The Business Class category exists for people who do not wish to come to Canada with a job offer but to become self-employed, start a business, or make an "investment" in Canada. These 3 different streams have different criteria:

Investors

An "Investor" must:

  • have a minimum legally obtained net worth of $800,000
  • make an "investment" by depositing $400,000 with the Government of Canada for a period of 5 years, after which time the sum is returned without interest
  • have "Business Experience" which means that for at least 2 years in the last 5 years they must have controlled a percentage of equity in a business of a certain size or worked as a senior manager who managed 5 or more employees
  • meet a minimum Point Score of 35 points based on various selection criteria

This is one of the most rapid immigration routes available and also has the advantage of not requiring pre-arranged employment from an employer in Canada. Meeting the Point Score of 35 points is not usually a barrier - the point score is just over half that of a Skilled Worker and 5 or more years business experience alone will be sufficient to achieve 35 points. So this is beneficial to candidates who have been successful managers or business owners but who may have little formal education or English/French language ability.

Having to deposit the sum of $400,000 Canadian dollars may seem like a deterrent but a number of financing schemes exist through approved financial institutions whereby the funds can be borrowed (and deposited with the Government of Canada by the institution on your behalf) which effectively reduces the investment to just an up-front payment of the interest and administration costs.

It is also important to note that there is a requirement to show that your net worth was legally obtained which means that your source of income and capital gain will be thoroughly scrutinized.

Entrepreneurs

An "Entrepreneur" must:

  • have a minimum net worth of $300,000 Canadian dollars
  • have "Business Experience" which means for at least 2 years in the last 5 years must have controlled a percentage of equity in a qualifying business (a business of a certain size in terms of a combination of its sales, profits, assets or number of employees)
  • meet the Point Score of 35 points
  • start a business in Canada and take an active role in the management of that business
  • must employ at least one Canadian in that new business in Canada

This is a good route for applicants who have firm plans to start a business in Canada but it is not one of the quickest options. Current processing times are around 3 years. The majority of Canadian Provinces offer equivalent Entrepreneur (or Business Plan) Streams within their Provincial Nominee Programs that provide for significantly quicker processing (normally 6-12 months).

Self-Employed Persons

A "Self-Employed" applicant must:

  • have at least 2 years "relevant experience" within the last 5 years in cultural activities, athletics or farm management
  • this experience must EITHER be in a self-employed capacity OR must have been through participation at a "world-class" level
  • meet a point score of 35 points
  • have the intent to become self-employed on arrival in Canada and to be able to support at least their own family through that self-employment

Although this category is restricted to people in cultural activities, athletics or farm management, these definitions can be quite broad, especially in respect of Cultural Activities. For example self-employed Music Teachers, Interior Designers, and other occupations would qualify. Many people dismiss this category assuming it to be restricted to "world-class" athletes and performers and while it's true that these people would qualify, so too would people who did not meet the definition of world-class but who's experience was gained during self-employment.

Candidates must have the intent to become self-employed in Canada but unlike the Entrepreneur category there are no Conditions imposed on the Permanent Resident Visa requiring applicants to comply with criteria after landing.