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.
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)
Immigration and Refugee Protection Act Regulations
[vii] R 88, 90, 97, 100: Business Class (Investors, Entrepreneurs, Self-employed persons)