THE GENERAL CHARACTERISTICS FOR EACH PROVINCE ARE OUTLINED BELOW
Ontario - The Entrepreneur Stream
An individual investor (entrepreneur) will qualify for the nominee program with the following general requirements:
- Verified net worth of $800,000 outside the Greater Toronto Area and $1,500,000.00 within the Toronto Area.
- The amount of the investment is at least $500,000 outside Greater Toronto or $1,000.000 in the Greater Toronto Area.
- The investment must create at least 2 permanent full-time jobs for Canadian citizens or permanent residents in Ontario.
- Be actively involved, on an ongoing basis, in the management of the business.
- Control, or will control, at least 33.3% of the equity in the business
- Hold a minimum of CLB 5 in either French or English
- Invest the capital in the business not for the primary purpose of deriving interest, dividends or capital gains
- Hold at least 36 months experience as a business owner or as a senior manager within the last five years preceeding the application.
This procedure is initiated with a Work Permit until the business has been created and approved by the Ontario Immigrant Nominee Program. The Ontario authorities will monitor the business and may visit the premises for verification purposes. Once nominated, the candidate may apply for the permanent residence.
British Columbia
This province offers two (2) business categories, each holding their own requirements:
A. The Entrepreneur Stream
- Minimum net worth of $600,000 subject to a verification report
- Make a personal investment of at least $200,000 CAD - $400,000 to establish an eligible business
- Create at least 1 job in the business for Canadians or permanent residents.
- Own at least one third (33 1/3%) of the equity of the business.
- Provide active and on-going participation in the day to day management and direction of the business during a 20 month period before nomination (through a temporary work permit).
- Demonstrate that they have:
• the skills and experience necessary to establish and operate a commercially viable business in B.C.
• a personal net worth of at least $800,000 CAD obtained from legal sources
• sufficient unencumbered personal funds to make the required investment
• a viable business proposal
Principal applicants in the Business Skills category may include one foreign key staff person as a co-applicant for nomination, but must still create one additional job for Canadians or permanent residents.
B. The Strategic Projects Program
This concerns the establishment of a branch or subsidiary in high impact sectors
- Minimum investment amount of $500,000 in equity
- Company profile will have sales of 20 Million $ with 150 employees in certain sectors of business
- Up to 5 key staff may be part of the branch or subsidiary if considered esential to the business
- Each key staff person must create a minimum of 3 jobs for permanent residents or Canadian citizens
- Provide a detailed business plan and sign a performance agreement
- Pre-nomination performance verification within 20 months while on a temporary work permit
Alberta
At the moment, the province carries a self-employed farmer category. The basic requirements for the applicant are as following:
- Experience in farm management
- Personal net worth of $500,000.00 or more
- Investment of $500,000.00 in a primary agriculture enterprise
The candidate is expected to submit a sound business plan and have performed an exploratory visit.
Saskatchewan
This province holds two business immigration programs
A) The SINP Entrepreneur Catoegory
The conditions are as following:
- $500,000 net worth with third party verification
- 3 years as an entrepreneur or as a manager
- Invest a minimum of $300,000 if future business is in Regina or Saskatoon with 33.3% equity OR $200,000 in any other region with 33.3% equity OR $1,000,000. investment if equity is under 33.3%
- Minimum score requirements with highest level chosen from ranking pool
- Provide a detailed business plan
- Create at least 2 jobs for permanent residents or citizens
A Work permit application to be initiated after a preliminary approval. Nomination can be provided after a 6-month performance under a temporary work permit.
B) The SINP Farm Owner/Operator
And the essential requirements are:
- Hold farming experience similarly to the farming techniques used in the province.
- Minimum net worth of $500,000. with 3rd party verification
- Invest a minimum of $150,000 in a primary production farm
- Provide a detailed farming establishment plan
- Pay a good faith deposit of $75,000. to be refunded after conditions have been met.
Manitoba (see our specified web page under the Manitoba Investor Stream)
New Brunswick
The business applicant is eligible to apply with the following requirements:
Hold 3 years management experience as a business owner or 5 years as a senior manager
Hold a verified personal net worth of at least $600,000 of which $300,000 are liquid and unencumbered assets;
Invest a minimum of $250,000 in the business
Ideally, perform an exploratory visit
Attend a selection interview in New Brunswick
Submit a sound business plan
Make a commitment to settle permanently in New Brunswick through a performance deposit of $100,000
Have basic proficiency in French or in English
Prince Edward Island
This Province has one active entrepreneur program with the following criteria:
A minimum net worth of $600,000.
Invest a minimum of $150,000 to establish a new enterprise (or to purchase no less than 33% of an existing business).
A business plan to demonstrate that the Immigrant Entrepreneur has the capacity to establish a successful business in an eligible sector.
Payment of a $200,000 business investment deposit, which is held in escrow and returned to the applicant after one year’s residency and establishment of the business;
Or, instead of the $200,000 escrow, the candidate may apply for a work permit
Perform a 5-day Exploratory trip
Provide a detailed business plan
Yukon
To be eligible for the provincial entrepreneur category, the applicant must satisfy the following conditions:
The applicant must invest a minimum of $300,000 CDN and 33.3% ownership with a Canadian citizen or permanent resident
The applicant must have a personal net worth of at least $500,000 of which he or she holds at least $300,000 in liquid assets
The applicant must have the necessary experience and education to successfully implement the business plan.
The applicant will attend an interview in order to discuss the business plan. The province will favor certain sectors of business according to the economical profile at a given time.
Score at least 65+ points with CLB 7 in a language test
Other Business programs are available with the Quebec Entrepreneur Category and the Quebec Investor Program.
You may also want to check the Quebec Self-Employed Category or the Federal Self-employed which offer great opportunities for the solo business owner.
If interested in any of these programs, you may complete our Business Evaluation Form. We will be pleased to return to you with additional information as soon as we can.
Bellemare & Vinet Attorneys
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