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Canada Visas [cont'd]

Entrepreneur:

a) must have the ability and intention to establish, purchase or make a significant investment in a business in Canada that will make a significant contribution to the economy. The business must create or continue at least one job in Canada for a Canadian citizen or permanent resident other than the entrepreneur or his dependents.

 

b) the applicant must also intend and have the ability to provide active and ongoing participation in the management of the business.

Unlike the Investor class, officially, there is no minimum amount required, however, in order for the client to be successful, it is recommended that a net investment of at least C$ 250,000 with a net assets value of the candidate be at least C$ 500,000.
Furthermore, the applicant must have a business plan, showing the type of business in which they would like to invest, location of investment, amount of investment and the number of Canadians that will be employed.
Because the applicant will not make the investment prior to arrival, a conditional VISA (PR) is issued, which states, that the applicant must invest in a business or joint venture that employs one or more residents of Canada within two years in order to remove the conditional status and maintain Canadian permanent residency status

 

Self-employed: A person who intends and has the ability to establish or purchase a business in Canada that will create employment opportunity for that person, and will make a significant contribution to the economy, or the cultural or artistic life of Canada.

Investor:
To qualify as an Investor, the applicant must:

Have accumulated a net worth of at least CAD $800,000 through legitimate business or investment means;

Invest CAD$400,000 for 5 years in a Canadian government approved investment project.

Furthermore, the applicant must be able to demonstrate that he or she has operated, controlled, directed, or at least managed a successful commercial enterprise or professional practice.

It should be noted that the applicant may choose to finance a significant portion of the investment. Some investment plans may require a cash contribution of approximately than CAD$110,000.

While there is no requirement that an investor applicant engage in any business activities after arrival in Canada; the belief is that individuals with this type of historical business venturing, would likely continue to do so. This is unlike the Entrepreneur category which places conditions on the applicant's visa requiring establishment or acquisition of a business enterprise within two years of landing in Canada.