The Entrepreneur Program seeks to attract experienced business people interested in moving to Canada and establishing a business. A condition of the Visa is that the entrepreneur must manage a business in Canada that will contribute to the economy and create jobs.
Eligibility
Entrepreneurs must demonstrate business experience and a minimum net worth of 300,000 CAD. An Entrepreneur's net worth need not have been created by his/her own endeavours but, rather, must have been "legally obtained" (i.e. inheritance, gift, etc.). Assets of an Entrepreneur's spouse/common-law partner/same-sex partner are also included when assessing net worth.
Unlike Investors, the only way in which an Entrepreneur can demonstrate business experience is through management and control of a qualifying business of sufficient size.
Entrepreneurs will be required to provide documentation proving that, within any two (2) of the last five (5) years, they controlled and managed a Qualifying Business.
Terms and Conditions after Immigrating
The successful applicant is granted a conditional Permanent Resident Visa. To remove those conditions the applicant must establish a Qualifying business within three years from landing in Canada. A Qualifying business is one that for a period of at least one (1) year within a period of not more than three (3) years after landing, the immigrant has owned and managed a Qualifying Canadian Business.
At least one (1) incremental, full-time equivalent (37.5 hours per week or more) job must be created for someone other than the Entrepreneur and the Entrepreneur's dependants. In addition, the Entrepreneur must have provided active and ongoing participation in the management of the business for at least one (1) year. A minimum of one-third (1/3) ownership is required.
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