UPDATE: CANADIAN ENTREPRENEURS IMMIGRATION PROGRAM WILL BE PAUSED FROM JULY 1, 2011.
The criteria for Canadian immigration under the entrepreneurs class are similar to that for investor category. The applicants must meet the following minimum requirements:
- Two years business experience;
- A legally obtained minimum net worth of $300,000; and
- Intend and will be able to meet the conditions of the program
The minimum two years business experience has to be during the last five years preceding the submission of application in a qualifying business.
The entrepreneurs require 35 pass marks out of 100 from the following five selection factors in order to qualify for the Canadian Immigration under the entrepreneur class.
- Education (25 points)
- Business experience (35 points)
- Age (10 points)
- Language ability (24 points)
- Adaptability (6 points)
The Program Conditions:
After becoming a permanent resident, an entrepreneur must meet the following program conditions:
- He/She must control a percentage of the equity equal to or greater than 33 1/3 per cent of a qualifying Canadian business ;
- He/She must provide active and on-going management of the qualifying Canadian business; and
- 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 has to be created.
The entrepreneur must meet the conditions for a period of at least one year within the period of three years after the day on which the entrepreneur becomes a permanent resident.
Evidence of compliance
An entrepreneur is required to provide an evidence of compliance with the conditions within the period of three years after the day on which the entrepreneur gain permanent resident status.
Report and evidence of efforts to comply
An entrepreneur must provide to an officer:
- not later than six months after the day on which the entrepreneur becomes a permanent resident, their residential address and telephone number; and
- during the period beginning 18 months after and ending 24 months after the day on which the entrepreneur becomes a permanent resident, evidence of their efforts to comply with the conditions.
The family members of an entrepreneur are subject to the condition that the entrepreneur meets the conditions set out in this section.