This program seeks to attract experienced business people to Canada who will support the development of a strong and prosperous Canadian economy. Various programs are being offered at Federal and Provincial levels. The Province of Quebec has its own selection system. In all cases the Federal Government has final authority to issue permanent residency visas. The Business Immigration Program currently falls under three categories of immigrants:
An Investor is defined as a person who has successfully operated or controlled or directed a business or commercial undertaking for at least two years and who has accumulated, through his/her own endeavours, at least $1.6 million in Canadian funds. Prior to visa issuance, immigrant Investors must pay $800,000 CAD to the Receiver General for Canada.
To qualify under this category, applicants are expected to have business experience and a legally obtained minimum net worth of $300,000. “Net worth”, in respect of an entrepreneur, means the fair market value of all of the assets of the entrepreneur and their spouse or common-law partner minus the fair market value of all of their liabilities.
Apart from that they have to inform the CIC (Citizenship and Immigration Canada) and Revenue Canada of managing Canadian business for at least one year within three years of landing in Canada and meet other requirements. All applicants must indicate in writing that they intend and will be able to meet these conditions, which are also applicable to all family members.
Citizenship and Immigration Canada has temporarily stopped accepting Investors and Entrepreneur applications. Only applications received before July 1, 2011, will be processed. It is expected that sometime in January of 2013 with some changes those two programs will be available again for qualified applicants.
The Self-Employed Person Program allows applicants with relevant experience in culture, athletics or farm management to immigrate to Canada provided that they make a significant contribution to the cultural or athletic life of Canada or purchase and manage farm. Immigrants who are self-employed in cultural activities or in athletics or have farm management experience are eligible for this class. It is expected that applicant has minimum personal net worth of CDN $150,000. To qualify under the program applicants must meet the following requirements: Athletes, sportsmen, artists shell demonstrate their achievements, ability to coach and train youth. Farmers Applicants need to proof 3 years experience. Canadian Provincial Governments share responsibilities for assisting farm business people to immigrate to certain provinces through the Provincial Nominee Program for Farmers.