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Entrepreneur

The Entrepreneur Program seeks to attract experienced businesspersons that intend to contribute to the Canadian economy and create employment though the ownership and management of business enterprise.

In the last five years, 11,000 Entrepreneurs have landed and over 42,000 jobs were created.

Requirements
1. Legally obtained a net worth of at least $300,00.00 CDN, and

2. Entrepreneurs must have business experience. They must have managed a qualifying business and controlled a minimum percentage of equity of a qualifying business for at least two years in the five years before the date of application.

Control Over a Minimum Percentage of Equity

An entrepreneur applicant must have an equity interest in the qualifying business, the portion must be one-third or greater, and the business must not have been operated primarily for the purpose of deriving investment income (such as interest, dividends or capital gains).

Qualifying Business
To establish whether the business qualifies under the program, the applicant must provide documented proof supporting two of the following criteria:

• the percentage of equity, multiplied by the number of full-time job equivalents, is equal to or greater than two full-time job equivalents per year;

• the percentage of equity, multiplied by the total annual sales, is equal to or greater than $500,000;

• the percentage of equity, multiplied by the net income in the year, is equal to or greater than $50,000; or the percentage of equity, multiplied by the net assets at the end of the year, is equal to or greater than $125,000

The entrepreneur must meet the conditions for a period of at least one year within the period of three years after the day on which the entrepreneur becomes a permanent resident.

An entrepreneur who becomes a permanent resident must provide to an officer evidence of compliance with the conditions within the period of three years after the day on which the entrepreneur becomes a permanent resident.
An entrepreneur must provide to an officer

1. Not later than six months after the day on which the entrepreneur becomes a permanent resident, their residential address and telephone number; and

2. During the period beginning 18 months after and ending 24 months after the day on which the     entrepreneur becomes a permanent resident, evidence of their efforts to comply with the conditions.

Failure to comply with any of the foregoing elements can result in an inquiry leading to the deportation of the applicant and landed dependants.

Selection Grid
In addition to the above requirements, Entrepreneurs will be assessed against the following selection grid. Applicants must obtain a minimum of 35 points.