BUSINESS CLASS [vii]
Immigration to Canada in 4 ways under business class
- Investor class
- Entrepreneur class
- Provincial Nominee class
- Quebec Business class
1. INVESTOR CLASS
Canada Immigration has closed Immigration to Canada under Federal Investor class TILL JUNE 2012 because 700 spots for the year 2010-2011 are full now. However, the provincial INVESTOR CLASSES are still open IN SOME PROVINCES.
Eligibility for Immigration to Canada under FEDERAL INVESTOR CLASS,
- Two years of business experience as an owner or manager and
- A net worth of $1.6 million.
An applicant must deposit $800,000 with the Canadian government’s investment program for 5 years. The Canadian government returns this money after 5 years without an interest.
Some government approved Canadian banks provide financing for $800,000 against an applicant’s property abroad. If an applicant is able to deposit $220,000 with the selected Canadian bank for 5 years without an interest, the bank will finance $800,000 against the applicant’s property abroad.
In other words, if an applicant has $1.6 million of net worth, he need not sell all his assets in order to pay off $800,000; rather he only pays $220,000 to the Canadian bank. Briefly, if an applicant has a cash flow of $220,000 plus two years of business experience, he and his family can qualify for Immigration to Canada.
2. ENTREPRENEUR CLASS
Entrepreneur class is divided in 2 parts
- Self-employed individuals
Immigration to Canada under entrepreneur category is possible, if an individual
- has a net worth of CAD$300,000 and
- has ability to invest in or acquire a Canadian business which will create employment in Canada.
2. Self Employed Persons
Canada PR status is granted under self-employed class, if an individual is able to support him/herself and any dependents with his self-employed income as a
- Athlete or
- Artists (Radio, TV, Stage, Film and other artisans)
Processing times: Currently, the processing times are 35 months for investor category and 84 months for entrepreneur class.
3. PROVINCIAL NOMINEE CLASS (Business/Farming/Investor Stream)
Under Federal Investor’s and farming business programs, a net worth of $1.6 million is required, but under the Provincial Nominee Program it is in the range of $300,000 to $800,000, depending upon the province.
See here an an example of Saskatchewan Business Class Immigration.
Click the above link to know
Author Parminder Singh LL.B (Canada)
[vii] R 88, 90, 97, 100: Business Class (Investors, Entrepreneurs, Self-employed persons)