FEDERAL ENTREPRENEUR IMMIGRATION OPTION FOR BUSINESSMEN
The main Federal immigration option for the businessman who wishes to immigrate by starting a business in Canada is the Entrepreneur category. Under this category the applicant must have a net worth of C$300,000. He must have managed a significant business and controlled a percentage of the shares of the business for 2 out of the last 5 years. He would have to invest $150,000 in a Canadian business. The business would have to employ at least one Canadian full time.
The Federal Government is putting less emphasis on the Federal Business category of Entrepreneur. It should be noted it is currently taking 2-3 years after filing the application before the Federal Government will be able to process the Entrepreneur application.
Within three years of becoming a permanent resident, the entrepreneur must have satisfied the terms and conditions of his immigration. The terms and conditions of the Entrepreneur category are the entrepreneur must have controlled (at least one-third of the business) and have actively managed a business for a period of one year, made the investment promised ($150,000) and hired the Canadians (minimum of 1 ) required. Documents must be filed proving these terms and conditions have been satisfied. Failure to do so would result in loss of status as Canadian Landed Immigrant.
All family members under Federal Business Immigration Programs are admitted on the same conditions as the applicant.
Brian Edward Tadayoshi Tsuji
Canadian Immigration Lawyer
2800 Park Place
666 Burrard Street
Vancouver, British Columbia, Canada, V6C 2Z7
Tel:(604) 643-6496 Fax:(604) 605-3596