An applicant who is intending to settle in Canada as an entrepreneur must demonstrate
that he/she has legally obtained a networth of at least $300,000 CDN and has the intention to control a percentage of equity of a qualifying Canadian business equal to or greater than 33 and 1/3 % and provide active and ongoing management
of the business that will create one incremental full-time job equivalent for Canadian
citizens and permanent residents.
Besides, the applicant must have business or management experience and must have
controlled a percentage of equity of a qualifying business for at least two years in the period beginning five years preceding the application.
The five-year full-time business experience is granted the maximum 35 points. In
addition to the work experience evaluation, the applicant is assessed against four
selection factors such as age, adaptability, language skills, and education. The
pass mark for these business class immigrants is 35, whereas the maximum possible
score is 100 points. The pass mark is variable and is determined by the Minister
of Citizenship and Immigration Canada on an ongoing basis.
The difference between two business programs – the investor and entrepreneur - is
that the potential entrepreneur is obliged for a period of one year within the period
of three years after the day on which he/she becomes a permanent resident to control
and manage a qualifying Canadian business. Failure to comply with this requirement
can result in an inquiry leading to the deportation of the applicant and landed
dependents.
Fee schedules:
*Fee for processing of the application:
$1.050 for the applicant
$550 for spouse or common-law partner and each dependent child over 22 years
$150 for each dependent child under 22 years
**Right of permanent residence fee (Landing visa):
$490 CDN for the applicant and for spouse or common-law partner and for each dependent
child over 22 years
*The fee is not refundable
** The fee is refundable if CIC did not issue a visa due to problems with criminal
records or medical examination.