Canada’s British Columbia investor Program

Author: Parminder Singh, J.D. Juris Doctor (Canada)

BC investor Categories

You can apply to the B.C. Provincial Nominee Program (PNP) as a business immigrant in four different categories, each with its different criteria. The outline chart below illustrates the minimum program criteria and there are further requirements, such as restriction on certain types of businesses. Initially a 2 year work permit will be issued to your family. Canadian PR will be given whenever you report fulfilment of the following criteria.

Entrepreneur  Regional Entrepreneur   Strategic Projects (for   setting up a branch unit in BC
Place of business Anywhere in B.C. Outside of Vancouver and Abbotsford Anywhere in B.C.
Minimum investment in a BC  business & overseas net worth Investment $400,000Net worth: $800,000 Investment $200,000Net worth: $400,000 Investment $500,000Net worth: N/A but must show successful previous business record
Ability to propose a key staff   member for Canadian PR Yes. The principal applicant can propose one key staff No Yes. Up to five.
Job creation requirements   Three new jobs One new job Three new jobs for each  key   staff proposed for PR

 Regional Business Succession category

This program is available for all the above categories (entrepreneur, regional entrepreneur and strategic projects). See the requirements in the following chart under each category:

Regional Business Succession category (Purchase an existing business in BC, which is 5 years old and has at least one employee other than owner or his family member)

 

Entrepreneur  Regional Entrepreneur   Strategic Projects 
Place of business Outside of Vancouver and Abbotsford Outside of Vancouver and Abbotsford Outside of Vancouver and Abbotsford
Minimum investment in a BC   business & overseas net worth Investment $400,000Net worth of $800,000 Investment $200,000Net worth $400,000 Investment $500,000Net worth: N/A but must show successful business record
Ability to propose a key staff   member for Canadian PR Yes. The principal applicant can propose one key staff No Yes. Up to five.
Job creation requirements Maintain 3 existing jobs or create 3 new ones No new jobs, but must maintain existing jobs Maintain 3 existing jobs or create 3 new jobs. Three new jobs for   each key staff proposed for PR

Canada Provincial Business Immigration Programs: A Comparison

Author: Parminder Singh LL.B (Canada)

Comparison Chart, Canada Provincial Business Immigration

Canada has 10 Provinces and each province has its own requirements with respect to Business Immigration or investor visas. This article compares all the Canadian provinces with respect to their investment criteria for business visas so that the applicants may decide which province suits their pockets and budgets.

Some provinces require an applicant to have less net worth than the others. Surprisingly,  the range of net worth requirement from province to province is between $250,000 to $16,00,000.

However, it must be noted that the Canada Federal Business Immigration Program, which is a subject matter of another article, requires much more net worth than most provincial business immigration programs. The Canada Investor Visa requires a net worth of $1.6 million, of which, half must be deposited with the government for 5 years without interest.

Click the following attachment for a comparison chart of 10 Canadian Provinces with respect to the following requirements in their Business Immigration programs: net worth, business experience, government deposit, visit to province, business plan and language requirements. 

Comparison Chart, Canada Provincial Business Immigration

 

 

Canadian Immigration through Saskatchewan Business & Farmer Immigration Program

CANADA’ SASKATCHEWAN IMMIGRATION PROGRAM: FASTER AND EASIER WAY TO CANADA PR

Author: Parminder Singh, LL.B (Canada)

BUSINESS/FARMER IMMIGRATION

Important Notice: The Entrepreneur Category criteria are under review and the category is not accepting new applications.  The SINP will begin accepting applications after finalizing the review in 2014.

Saskatchewan is one of the 10 provinces of Canada. Immigration to Canada is possible with Saskatchewan’s Business Immigration Program MUCH MORE FASTER AND EASIER THAN THE FEDERAL & MOST OF OTHER PROVINCIAL NOMINEE PROGRAMS.

ELIGIBILITY

You are eligible to immigrate to Canada under Saskatchewan Provincial Nominee Program, Business category, if you meet the following conditions:

  1. You or your spouse have a legally obtained net worth of $300,000
  2. You have 3 years of Business experience as an owner or as a manager
  3. You intend to reside in Saskatchewan

OTHER FACTORS

A) Within six months of your application you will Deposit $75,000 with the government, which is returnable with interest after 2 years if the conditions of your investment in Saskatchewan are met.

B) You are required to Invest $150,000 in Saskatchewan business (You can do this after you land in Canada, but we will recommend as soon as possible). 

PROCESSING TIME

It takes 6 months to process the Provincial application and 10 months to process the Federal application under Provincial Nominee Program.

PROCEDURE

The application is first submitted to the provincial office which verifies from the 3rd party experts whether the applicant meets the net worth requirement of the program.

The applicant is then required to deposit a processing fee of $2500. The province checks an applicant’s eligibility against 3 point criteria and in about 6 months, the Province grants nomination to the eligible applicant.

The applicant is then requested to deposit $75,000 with the Saskatchewan government, which is returned with interest after two years upon meeting the terms of business performance contract for 2 years, which requires establishment of business in Saskatchewan by investing at least $150,000.

The applicant is finally required to send the Federal Immigration application to the Federal government’s immigration department along with the Provincial Nomination letter. The Canada immigration department checks an applicant’s medical and criminal history and evaluates whether the applicant’s documents and intentions are genuine.

The applicant is not required, but it is recommended that he visits Saskatchewan for the purpose of establishing intention to settle in Saskatchewan. The intention may be established by visiting and establishing business relation in Saskatchewan. But an applicant may establish business relations without visiting the province by attending online business seminars related to an applicant’s business, hiring business consulting firms, investing in property, both residential and commercial.

THE FEDERAL PROGRAM COMPARED TO SASKATCHEWAN

The similar application under Federal Investor Program takes 3 years to process and the investment requirement is $1.6 million, half of which must be deposited with the government for 5 years without interest. This program is close at this time.

At Singh & Associates, we provide in depth information for all types of visas and appeals. Contact us for further assistance.

Parminder Singh LL.B (Canada)

 

 

 

Quebec Business Class Immigration

The investor program usually reaches its CAP quickly. Please check before applying whether new applications are being taken at this time.

 QUEBEC BUSINESS CLASS [i]

Three categories for Immigration to Canada through Quebec business class,

  1. Investors
  2. Entrepreneurs
  3. Self Employed individuals

a. INVESTORS

Eligibility

  • Legally obtained net worth property/cash of $1.6 million. Donations 6 months old at the time of application are not accepted.
  • Two year business experience.
  • An applicant must invest $800,000 in a Quebec government investment scheme. The $800000 is refunded after 5 years without an interest. Canadian banks can finance $800,000 against an applicant’s overseas property on a lower interest rate. An applicant need not sell overseas property to to fulfil 800,000 deposit requirement in order to acquire Canada Immigration PR status.

b. ENTREPRENEURS

Eligibility

  • A $300,000 in property/cash
  • Business or Farm management experience: 2 year
  • Ability to purchase a business in Quebec either alone or in partnership with at least 25% share worth at least $100,000. The business must generate one job other than an applicant’s own job.
  • The agricultural entrepreneur is not required to create or maintain full-time employment.
  • An applicant must fulfill this condition for at least one year during the three years after obtaining Canada Immigration PR status.

c. SELF EMPLOYED INDIVIDUALS

Self-employed individuals, as described in National Occupation Classification (NOC), include individuals such as athletes, farmers and artists (Stage, Film, Radio, TV and Fine Art).

Eligibility

a)      A net worth of $100,000

b)      At least 2 year experience in an intended trade

 Parminder Singh LL.B (Canada)

REFERENCES

s.1, Regulation respecting the weighting applicable to the selection of foreign nationals, RRQ, c I-0.2, r 2, s.1

 


[i] s.21, Regulation Respecting the Selection of Foreign Nationals, RRQ, c I-0.2, r 4

Canada Business Class Immigration


BUSINESS CLASS [vii]

Immigration to Canada in 4 ways under business class

  1. Investor class
  2. Entrepreneur class
  3. Provincial Nominee class
  4. 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,

  1. Two years of business experience as an owner or manager and
  2. 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

  1. Entrepreneurs
  2. Self-employed individuals

1. Entrepreneurs

Immigration to Canada under entrepreneur category is possible, if an individual

  1. has a net worth of  CAD$300,000 and
  2. 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

  1. Farmer
  2. Athlete or
  3. 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.

For a comparison of all provinces with respect to net worth and other requirements, CLICK HERE.

See here an an example of Saskatchewan Business Class Immigration.

4. QUEBEC BUSINESS CLASS

Click the above link to know

Author Parminder Singh LL.B (Canada)

REFERENCES

Immigration and Refugee Protection Act Regulations

[vii] R 88, 90, 97, 100: Business Class (Investors, Entrepreneurs, Self-employed persons)