Economic immigration is also possible under an investor category, which grants permanent residence to anyone with the intention of setting up a business in Canada.
The goal of Canada's Business Immigration Program is to promote economic development and employment by attracting investors, entrepreneurs and self-employed individuals from outside Canada with venture capital, business acumen and entrepreneurial skills.
The Canada Business Immigration Program also seeks to develop new commercial opportunities and to improve access to growing foreign markets by welcoming people who are familiar with those markets and their special requirements and customs. Individuals with business/managerial experience and relatively high net-worth may apply for a Canada Immigration (Permanent Resident) Visa under the Canada Business Immigration Program in one of the following three sub-categories:
To qualify as an investor, an individual must have a net worth of at least CAD $1.6 million, have managerial experience and be willing to make a government-secured passive investment of CAD$800,000. Financing of this investment is available through Canadian financial institutions.
This program is available through both Federal and Quebec pathways (please see below) with slight differences.
It is expected that this stream will reopen Federally on the 1st of January 2014 and Quebec on the 1st of April 2014.
To qualify as an entrepreneur, an individual with a net worth of at least CAD$300,000 and be willing and able to establish, invest in or acquire a business in Canada which will create or maintain employment in Canada.
Citizenship and Immigration Canada has closed this category till further notice.
Self-Employed Persons Program:
To qualify as a self-employed person, an individual must be willing and able to support him/herself and any dependents with self-employed income as a farmer, athlete, or artisan.
Business Categories in Quebec
In Quebec, each of the three business categories (Entrepreneur, Investor and Self Employed) has their own requirements and selection process.
- Quebec Investor Program: To qualify as an investor, an individual must have a net worth of at least CAD$1.6 million, have managerial experience and be willing to make a government-secured investment of CAD$800,000 for a period of 5 years. Financing of this investment is available through Canadian financial institutions.
- Quebec Entrepreneur Program: To qualify as an Entrepreneur, an individual must have a net worth of at least CAD$300,000, have managerial experience in a business that they either owned or controlled, and be willing and able to establish or acquire a business in Quebec which will create at least one incremental job in Quebec.
- Quebec Self-Employed Person Program: To qualify as a Self-Employed person, an individual must have a net worth of at least CAD$100,000, and must have work experience in the profession or trade that they intend to practice in Quebec.