The net worth requirement for Self-Employed persons varies depending on the nature and location of the proposed venture. Self-Employed persons destined to the Province of Quebec must have a net worth of at least CAD$100,000, lawfully obtained.
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Are there any minimum net worth requirements for Self-Employed Persons?
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Are there conditions attached to a Canada Immigration Visa issued under the Entrepreneur Program?
Yes, the Entrepreneur must, within three years of arriving in Canada: Control a percentage of equity of a qualifying Canadian business equal to or greater than one-third; Be active in the management of the qualifying Canadian business, and Establish at least one full time job for a Canadian citizen or Permanent Resident other than the Entrepreneur and family members. If the Entrepreneur does not fulfill these conditions, there is a possibility of losing Canadian Permanent Resident status.
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As a Self-Employed Person, is an exploratory visit to Canada necessary?
As a Self-Employed person you are encouraged to make an exploratory visit to Canada to properly assess the business/cultural/artistic environment of the area in which you intend to locate.
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As an Entrepreneur applicant, am I required to submit a detailed business plan?
A detailed business plan is not required, except if you are planning to establish or acquire a business in the province of Quebec.
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As an Entrepreneur applicant, is an exploratory visit to Canada necessary?
As an Entrepreneur applicant, you are encouraged to make an exploratory visit to Canada to properly assess the business environment of the area in which you intend to locate.
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As an Immigrant Investor, will I be obliged to work and/or engage in business activities in Canada?
While you are entitled to engage in work and business activities upon arrival in Canada, there is absolutely no obligation to do so.
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How can I prove that my net worth has been lawfully obtained?
You must demonstrate the origin and accumulation of your wealth through reliable, third-party documentary evidence: tax returns, pay stubs, deeds of purchase/sale, statements from stockbrokers, business/real estate valuations, etc. You must be able to demonstrate that your assets were gained through means, which are considered legal, including gifts or inheritances.
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How can I qualify under the Entrepreneur Program?
NOTE: The Federal Entrepreneur Program is on hold until further notice. As an Entrepreneur application planning to reside anywhere in Canada, other than in the Province of Quebec, you must:Under the Federal Investor Program, you must have: Have a net worth of at least CAD$300,000, lawfully obtained; Have managerial and ownership experience in a qualifying business, as defined under the Regulations; Establish or acquire a qualifying Canadian business that you will actively manage and own at least 33.33 percent of equity; and Create a minimum of one new job for a Canadian or permanent resident in the business. As an Entrepreneur applicant planning to reside in…
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How can I qualify under the Immigrant Investor Program?
NOTE: The Federal Investor Program was terminated on June 19, 2014. Under the Federal Investor Program, you must have: A net worth of at least CAD$1.6 million, lawfully obtained; The funds to invest CAD$800,000 (financing available) for five years with Immigration, Refugees and Citizenship Canada (IRCC), which acts as an agent on behalf of provincial and territorial investment funds; and Managed and owned an equity interest in a qualifying business, as defined under IRCC Regulations; or, managed/supervised at least five employees for a period of two years within the last five years. As an Immigrant Investor planning to reside in the Province of Quebec, you…
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How can I qualify under the Self-Employed Persons Program?
To qualify as a Self-Employed person, you must be able to demonstrate experience, intention and ability to establish or purchase a business in Canada that will keep you employed and make a significant contribution to cultural activities, athletics or farming in Canada. Your intended business must generate sufficient revenues to support you and your dependents. If your destination is in the Province of Quebec, you must have: A net worth of at least CAD$100,000, lawfully obtained; and At least two years of experience as a self-employed worker in the occupation you plan to pursue in the Province of Quebec. Under the Quebec Selection…
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Under the Canadian Business Class, am I required to live in a particular province?
After becoming a Canadian permanent resident, you may live, work, and engage in business activities in any Canadian province or territory, regardless of where you initially indicated you intended to reside on your application form. However, entrepreneurs intending to reside in the province of Quebec will be required to manage a commercial enterprise, which you must establish or acquire a portion of, in that province.
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What are the main differences between the Federal and Quebec Immigrant Investor programs?
The Quebec Immigrant Investor Program takes into consideration managerial experience in a government, governmental organization or international organization and therefore may appeal to individuals with a broader spectrum of backgrounds. In addition, the net worth and investment requirements are more onerous for the Immigrant Investor Venture Capital Pilot Program.
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What documents must I provide in support of my application under the Canadian Business Class?
In addition to Immigration, Refugees and Citizenship Canada (IRCC) application forms, education-related and status documents (passports, birth/marriage certificates, etc.), you must submit documents proving your business and/or managerial experience, as well as documents evidencing your net worth.
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What is the Canadian Business Class?
The Canadian Business Class is a category of Canadian Immigration under which individuals with business/managerial experience and relatively high net-worth may qualify for a Canada Immigration (Permanent Resident) Visa. There are three sub-categories within the Business Class: Immigrant Investors, Entrepreneurs and Self-Employed Persons.
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When do I, as an Immigrant Investor, commit my investment amount?
NOTE: The Federal Immigrant Investor Program was terminated on June 19, 2014. Under the Immigrant Investor Venture Capital Pilot Program, the investment is only made once a candidate's application is approved. Information about the management of the fund, terms, and conditions, will be provided to immigrant investors in the agreement to be entered into with Immigration, Refugees and Citizenship Canada (IRCC, formerly CIC). This agreement will have to be signed before applicants make their CAD $2 million at-risk (non-guaranteed) investment. For individuals pursuing immigration through the Quebec Investor Program, you must commit your CAD $800,000 investment amount before final approval by…
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Will my investment be returned to me if my Immigrant Investor application is refused?
That depends on the particular program. Under the Immigrant Investor Venture Capital Pilot Program, applicants are only required to make an investment if their application is approved. Applicants who are approved under this program are required to make an investment in the Immigrant Investor Venture Capital Fund in the amount of CAD $2 million. The investment will be committed for approximately 15 years. This is an at-risk investment, therefore, it is a possibility that applicants will lose some or all of their investment. As with any venture capital investment, however, applicants also have the potential to receive proceeds, either over…
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Are there any other agreements that the sponsor must enter into?
The sponsor is obliged to enter into a sponsorship Agreement with the sponsored person(s). By signing this agreement, the sponsor agrees to provide for the "Essential needs" of the sponsored person(s), and the sponsored person(s) promise to make every effort to become self-supporting.
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Are there circumstances that may allow a sponsored person to apply from within Canada?
A sponsored person, inside Canada, who is the spouse, common-law partner, conjugal partner or dependent child of the sponsor can apply from within Canada. Moreover, for humanitarian and compassionate reasons, other sponsored persons may apply from within Canada. However, Citizenship and Immigration Canada must be convinced that the sponsored person(s) would suffer excessive hardship while waiting for their application to be processed from outside of Canada.
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As a sponsor, what obligations are there toward the Government of Canada?
The sponsor and the sponsor's co-signer, if applicable, are obliged to sign an undertaking with the Government of Canada promising to provide for the essential needs of the Sponsored person(s) for a period of time following the arrival of the sponsored person(s) in Canada. The purpose of this agreement is to ensure that the sponsored family members do not become dependent on Canadian public welfare assistance. A similar provincial undertaking is required for sponsors who reside in Quebec.
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Can a same-sex partner be sponsored?
For those married in Canada, same-sex marriages are valid for sponsorship of a spouse. For those married outside Canada, same-sex marriages are valid if the marriage was recognized in the country in which it took place. Same-sex common-law and conjugal relationships are valid within and outside Canada for sponsorship of a partner.