Business Immigration FAQ

1.What is the Business Class in Canada?

Individuals with business/managerial expertise and a reasonably high net worth may apply for a Canada Immigration (Permanent Resident) Visa under the Canadian Business Class. Immigrant Investors, Entrepreneurs, and Self-Employed Persons are the three subcategories of the Business Class

2.What papers do I need to provide in support of my Canadian Business Class application?

You must provide papers showing your commercial and/or management experience, as well as documents proving your net worth, in addition to the Immigration, Refugees and Citizenship Canada (IRCC) application forms, education-related and status documents (passports, birth/marriage certificates, etc.).

3. Am I obliged to reside in a certain province as part of the Canadian Business Class?

After becoming a permanent resident of Canada, you are free to live, work, and do business in any Canadian province or territory, regardless of where you stated on your application form that you wanted to dwell. Entrepreneurs wishing to live in the province of Quebec, on the other hand, will be needed to run a commercial company in that province, which they must either start or purchase a share of.

4. How can I become eligible for the Immigrant Investor Program?

NOTE: On June 19, 2014, the Federal Investor Program came to an end.

You must meet the following requirements to participate in the Federal Investor Program:

a lawfully acquired net worth of at least CAD$1.6 million;
the funds to invest CAD$800,000 (financing available) for five years with Immigration, Refugees and Citizenship Canada (IRCC), which acts as an agent on behalf of provincial and territorial investment funds;
and managed and owned an equity interest in a qualifying business, as defined by IRCC Regulations; or managed/supervised at least one qualifying business.

As an immigrant investor intending to settle in Quebec, you must possess the following qualifications:

a net worth of at least CAD$1.6 million obtained lawfully;
funds to invest CAD$800,000 in a government of Quebec guaranteed investment fund for five years;
and managerial experience in a commercial, industrial, or agricultural enterprise; or managerial experience in a government, governmental organization, or international organization for two years within the last five years.

NOTE: The Immigrant Investor Venture Capital Pilot Program is now closed, and new applications are not being accepted.

Under the Immigrant Investor Venture Capital (IIVC) Pilot Program, as an Immigrant Investor intending to live anywhere in Canada other than Quebec, you must have:

a lawfully acquired net worth of at least CAD $10 million;
the funds to invest CAD $2 million in the Immigrant Investor Venture Capital Fund for 15 years;
and demonstrate sufficient language proficiency (CLB 5) in either English or French in all four language abilities (reading, writing, speaking, and listening) by providing results from a language competency test taken in the previous two years at an accrediting body.

Business Immigration FAQ

5. How can I show that my net worth was earned legally?

Tax records, pay stubs, deeds of purchase/sale, brokerage statements, business/real estate appraisals, and other credible third-party documented proof are required to show the origin and growth of your wealth. You must be able to show that your assets were obtained via legal methods, such as gifts or inheritances.

6. When do I have to pledge my investment amount as an immigrant investor?

NOTE: On June 19, 2014, the Federal Immigrant Investor Program was discontinued.

The investment is provided only when a candidate’s application is accepted under the Immigrant Investor Venture Capital Pilot Program. Immigrant investors will be given information about the fund’s management, terms, and conditions as part of the agreement with Immigration, Refugees, and Citizenship Canada (IRCC, formerly CIC). Before candidates make their CAD $2 million at-risk (non-guaranteed) investment, they must sign this agreement.

Before final approval by Quebec immigration authorities, applicants seeking immigration via the Quebec Investor Program must pledge their CAD $800,000 investment amount.

7. If my Immigrant Investor application is denied, will my investment be refunded to me?

That is dependent on the program in question.

Applicants are only obliged to make an investment if their application is accepted under the Immigrant Investor Venture Capital Pilot Program. Applicants who are accepted into this program are expected to make a CAD $2 million investment in the Immigrant Investor Venture Capital Fund. The investment will be made for a period of around 15 years. Because this is a high-risk investment, there is a chance that applicants may lose part or all of their

money. Applicants, like any other venture capital investment, have the option of receiving profits over time or at the conclusion of the investment period. The IIVC Fund’s performance determines the amount of money received.

The Quebec government guarantees the investment of CAD $800,000 and returns it in full after five years under the Quebec Investor Program.

Business Immigration FAQ

8. What are the major distinctions between the federal and Quebec Immigrant Investor programs?

The Quebec Immigrant Investor Program takes into account management expertise in a government, governmental agency, or international organization, and therefore may appeal to people from many walks of life.

In addition, the Immigrant Investor Venture Capital Pilot Program has more stringent net worth and investment criteria.

9. How can I become eligible for the Entrepreneur Program?

NOTE: Until further notice, the Federal Entrepreneur Program is on pause.

You must meet the following requirements as an Entrepreneur application if you intend to live elsewhere in Canada other than Quebec:

have a lawfully acquired net worth of at least CAD$300,000;
have managerial and ownership experience in a qualifying business, as defined by the Regulations;
establish or acquire a qualifying Canadian business that you will actively manage and own at least 33.33 percent of the equity;
and create at least one new job for a Canadian or permanent resident in the business.

If you want to live in Quebec as an entrepreneur, you must meet the following requirements:

have a lawfully acquired net worth of at least CAD$300,000;
have at least two years of managerial experience in the last five years and control at least 25% of the capital equity in a profitable commercial, industrial, or agricultural business;
and submit a business plan with the goal of creating or acquiring a business in Quebec that you will manage and own at least 25% of the capital equity in.

The following criteria must be met by applicants for a Start-Up Visa:

Meet minimal English or French language standards (CLB 5 in all abilities);
Have completed at least one year of post-secondary study and been in good standing at their educational institution throughout that time;
Have enough money to settle in Canada;
Pass Canadian security and medical clearances;
and Plan to Reside in a Province or Territory Other Than Quebec.

10. Are there any restrictions on obtaining a Canada Immigration Visa via the Entrepreneur Program?

Yes, within three years of coming in Canada, the Entrepreneur must:

Control one-third or more of the stock in a qualified Canadian company; be actively involved in the administration of the qualifying Canadian business; and create at least one full-time employment for a Canadian citizen or Permanent Resident other than the Entrepreneur and his or her family.

If the Entrepreneur does not meet these requirements, he or she may lose their Canadian Permanent Resident status.

Business Immigration FAQ

11. How do I know whether I’m eligible for the Self-Employed Persons Program?

To qualify as a Self-Employed person, you must be able to show that you have the experience, intention, and capacity to start or buy a company in Canada that will keep you employed and contribute significantly to Canada’s cultural activities, sports, or farming. Your planned company must be profitable enough to sustain you and your family. If you’re going to Quebec, you’ll need the following items:

a legally acquired net worth of at least CAD$100,000;
and at least two years of experience as a self-employed worker in the profession you want to pursue in Quebec.

Your area of activity is not restricted to culture, sports, or farming under the Quebec Selection Criteria.

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