Canada's Entrepreneur Program
An applicant in the Entrepreneur program is required to demonstrate a net worth of CAD$300,000 and must have two years of experience in the management and control of a qualifying business (please see table 1.1 below).
Table 1.1
A qualifying business meets two of the following 4 minimum requirements. |
Full-time (or full-time equivalent) employees |
2 |
Annual sales |
CAD$500,000 |
Net income |
CAD$50,000 |
Assets |
CAD$125,000 |
These figures are based on 100% ownership of the business. Those with less equity must divide the figures by the percentage of equity
|
The Entrepreneur applicant must have the ability and intent to start or invest into a satisfactory Canadian business (please see table 1.2 below). These conditions must be met for a period of at least one year within the three years after the Entrepreneur becomes a permanent resident of Canada.
Table 1.2
A satisfactory Canadian business meets two of the following 4 minimum requirements. |
Full-time (or full-time equivalent) employees |
2 |
Annual sales |
CAD$250,000 |
Net income |
CAD$25,000 |
Net assets at end of year |
CAD$125,000 |
If the Entrepreneur owns less than 100% of the equity of the business, the above figures must be divided by the percentage of equity owned.
|
The Entrepreneur is required to be actively involved in the management of the Canadian business, and must control a minimum of 33% of the business’ equity. At a minimum, one full time position of employment must be created by the Entrepreneur, exclusive of any member of the Entrepreneur’s family.
The Entrepreneur is subject to reporting of progress throughout the three year period during which compliance must take place. The Canadian status of the Entrepreneur and all family members is subject to satisfaction of these requirements.
Quebec
Applicants destined to the province of Quebec must have a minimum of three years experience in the planning, supervision, and control of the financial, human, and material resources within the 10 years preceding an application. This management experience must be in a profitable business (commercial, industrial, or agricultural).
