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This category is becoming more difficult in our opinion, because in order to lift the conditions, the applicant must meet the requirements to satisfy the terms and conditions imposed on the business within two years of operation, to obtain permanent residence status. Great emphasis is placed on the applicant's proven track record in business, expertise, financial resources and entrepreneurial spirit. To
Satisfy Immigration, You Will Need To Do 4 Things:
Capital investment is a minimum of $300,000. Investments in priority development sectors will more easily satisfy Immigration, but that does not mean that other sectors are not acceptable. A good rule of thumb is that you will need a personal net asset worth of at least $300,000. Keep in mind, that if you were to invest $150,000, you would need a personal net asset worth greater than your investment. In Greater Vancouver you may require approximately $550,000 by the time you settle your family, if you consider start-up costs and buying a house. For example:
The proposed business should provide employment opportunities for one or more Canadian citizens or permanent residents, other than the entrepreneur and his/her dependents. The applicant must also have the ability to actively participate in the day to day management of the business. You have to create a new full-time job or
continue a full-time job that would otherwise be lost if it were not for
the entrepreneur's investment. A full-time job requires a minimum of 35
hours a week. Provincial minimum wage in B.C. is $8.00/hr, but the wage
must be commensurate with the relevant industry sector.
You must provide day-to-day management of the business. However, this does not mean that you cannot be involved with other businesses. A business proposal is presented to Immigration. They will then decide if it is viable based on your proposal and your research substantiated at the interview. If you are refused, there is no formal appeal. You are urged to make an exploratory visit to the province of your choice and thoroughly research the business. Immigration officers are not business people, but you are. They are however, knowledgeable enough to know whether a project is viable. Use your business acumen to propose the benefits for yourself and to Canada. Think of it in the same way as persuading your bank manager to give you a loan for the amount of capital required! Bonus points - 45.
Can I invest in my own business? Entrepreneurs can invest in their own project or a partnership provided they are actively involved in the management of the business. Remember that doing business in a foreign country is usually different to that of your own country. It still requires a lot of research into documentation, tax implications and codes of practices and standards to name a few.
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