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Manage a business in Canada: Business Immigration for Entrepreneurs |
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 Tuesday, 26 May 2009
Entrepreneurs and small and medium-sized businesses are an important part of the Canadian economy. If, as a potential Canadian immigrant, you would like to establish and manage your own business in Canada, the Entrepreneur category of Canadian Business immigration could be your ticket to Canadian Permanent Residency. The federal and provincial governments strongly encourage newcomers to invest in new or existing businesses across the country, bringing their international experience to the Canadian economy. The federal Entrepreneur category of Business Class immigration was created to do just that, and many provincial Entrepreneur programs have subsequently emerged as well.
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Under Manitoba Business PNP the minimum requirements are:
- $150,000 investment into a business that is a going concern or into a new business
- Possess minimum net worth of $250,000
- Completion of a business plan
- Make an exploratory trip to Manitoba with a meeting with a program officer of Manitoba Trade & Investment
- $75,000 cash deposit that will only be returned to the applicant if after the first two years of landing they have made a bona fide effort to either implement their original business plan or implement changes to the original business plan
The processing time is 12-15 months for the whole process. This includes both the Manitoba PNP and the Federal part. It should be noted you receive your Canadian Permanent Resident status when the application is approved. Failure to implement the business plan results in a loss of the $75,000 cash deposit but the applicant retains the Canadian Landed Immigrant status.
Work Visas Under Manitoba Business PNPManitoba Business PNP due to its different structure, generally does not have applicants use this program to help facilitate a work visa. Under Manitoba Business PNP the applicant submits a business plan and does an exploratory visit to Manitoba. If the application is approved the applicant deposits $75,000. The applicant receives Canadian Landed Immigrant status. The applicant has two years to comply with the business plan. At the end of two years, if the applicant has not met the business plan requirements, the applicant forfeits the $75,000.
It has been the general practice in Manitoba Business PNP to come in as a Canadian Landed Immigrant. An approved applicant is not precluded from coming in under a work visa but most choose to come in as a permanent resident. |
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British Colombia PNP Business |
 There have been major changes in the Business Immigrants categories. The categories in the Business Immigrants category are Business Skills, Regional Business and Strategic Projects. In general the requirements under the categories have been made less onerous. There are reduced amounts being required for net worth and investment. The employment requirements to create new employment for Canadians have been reduced. The percentage required to be owned of the business has been reduced. The most interesting development is the creation of a “Fast Track” option under which the applicant pays a $125,000 performance bond that will allow the applicant to have the application immediately “fast tracked” to obtain Canadian permanent resident status. Applicants in the Business Immigrants categories should note that the Fast Track option of paying the $125,000 performance bond is NOT available to key staff included in their application. |
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Liverpool pair attempt peace pact |
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 Liverpool co-owners George Gillett and Tom Hicks are attempting to mend their broken relationship... The American pair have been at odds in a series with Liverpool manager Rafael Benitez also involved in differences behind the scenes.
Gillett had previously described his partnership with Hicks as "unworkable". But he told Canadian radio station Fan590: "It's fair to say communication between the Hicks's and the Gilletts has been substantially improved." Earlier this year, it was reported that Gillett had agreed to sell his stake in the club to Dubai International Capital, the investment arm of the Dubai government. |
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