How to Apply for the Entrepreneur Program in Canada
The Entrepreneur Program in Canada is interested in inviting experienced business persons who will support the economy and create jobs by owning and managing businesses in Canada.
To qualify for the Entrepreneur Program in Canada, the following criteria are necessary:
A minimum of two years of business experience. During the five years before applying for a permanent resident visa until the day a decision on the application is made, you must have managed a qualifying business and controlled a percentage of equity in said business over two one-year periods.
For a business to qualify, it must not operate with the primary intention of gaining investment income like dividends, interest, or capital gains.
During the year under consideration, you must have documents to prove two of the following:
- the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000
- the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000
- the percentage of equity multiplied by the number of full-time job equivalents is equal to or greater than two full-time job equivalents per year
- the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000
Percentage of equity is defined as either:
- 100 per cent of the equity of the sole proprietorship controlled by you or your spouse or common-law partner
- the percentage of the issued and outstanding voting shares of the capital stock of the corporation controlled by you or your spouse or common-law partner
- the percentage of the profit or loss of the partnership or joint venture to which you or your spouse or common-law partner is entitled
You must have a net worth of at least C$300,000 which was obtained legally. The net worth represents the fair market value of all of your assets, along with your spouse’s or common-law partner’s assets, less the fair market value of all of their liabilities.
You need to provide evidence that all of your net worth was acquired without criminal activity. You will need to provide an explanation for any discrepancies between your present net worth and you net income over the years. You may need documents to validate your net worth and your income sources if the visa officer who is assessing your net worth is interested.
You must obey the following conditions:
- When you become a permanent resident, you must control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 per cent, provide continuing and active management of said business, and create at least one incremental full-time job equivalent for permanent residents or citizens of Canada in said business (other than for yourself or a family member). The conditions must be fulfilled for at least one year during the period of three years from the day you become a permanent resident.
- An officer must receive proof that you are following the conditions during the three years after becoming a permanent resident. This must be proven between 18 and 24 months after the day you become a permanent resident. A residential address and telephone number must be provided no later than six months after the day you become a permanent resident.
Family members will be affected if you do not meet these conditions.
The Entrepreneur Program in Canada requires you to:
- pass a medical examination and criminal and security checks, along with your family members
- achieve a minimum of 35 points in the selection grid. The criteria are your education, age, business experience, English and/or French proficiency, and your adaptability
How to Apply
There are two types of applications processes, a simplified process and a regular process. You must use the regular process if one of the following is true:
- you have been lawfully admitted to Canada for a period of at least one year and you will be submitting your permanent residence application to the Canadian visa office in Buffalo
- you have been lawfully admitted into the United States for a period of at least one year and you will be submitting your application to the Canadian visa office in Buffalo
- you have been selected by Quebec and/or intend to reside there
Follow the instructions for the Regular Application Process here.
If the situations above do not apply to you, you must use the simplified application process. You can follow the instructions for the Simplified Application Process here.
Communication is key when it comes to integrating into Canadian society. That is why it is essential to have the proper skills to interact with your new community. Learning a new language can be a difficult task, but there are reputable English as a Second Language (ESL) classes that will help to give you confidence in a new language.
If you are an experienced entrepreneur who wants to make Canada your home, look no further than the Entrepreneur Program in Canada.