The Entrepreneur Program seeks to attract experienced business persons who will own and actively manage businesses in Canada that contribute to the economy and create jobs. Entrepreneurs must:
- Show that they have business experience
- Have a minimum net worth of CAN $300,000 that was obtained legally; and
Respect the conditions for entrepreneurs after they arrive in Canada.
In order to be eligible under the Entrepreneur Program, you must:
- Have managed a qualifying business and have had control of a percentage of equity of the qualifying business for at least two years in the period that begins five years before you submit your application and ends when a decision is made on your application.
- Be able to satisfy that the fair market value of all your assets and the assets of your spouse or common-law partner were obtained legally. Your assets must exceed the fair market value of all your liabilities and the liabilities of your spouse or common-law partner by at least $300,000.
Be able to prove that no portion of your net worth was obtained through criminal activity. You will be asked to explain any discrepancies between your net income over the years and your present net worth. The visa officer who assesses your net worth may ask you for documents to confirm both your income sources and your net worth.
Once you have satisfied these requirements you will then be assessed against five selection criteria and a point system. You must obtain a minimum of 35 points if you want to immigrate to Canada. The five selection factors are:
- Business Experience
- Ability in English and/or French
An entrepreneur who becomes a permanent resident must meet the following conditions:
- The entrepreneur must control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 per cent;
- The entrepreneur must provide active and on-going management of the qualifying Canadian business; and
- The entrepreneur must create at least one incremental full-time job equivalent in the qualifying Canadian business for Canadian citizens or permanent residents, other than the entrepreneur and their family members.