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Thursday, May 22, 2014

How to immigrate to Canada as a business person

Immigration to Canada as a business person
Canadian investor immigrants must have a net worth of 1.6 million CAD

By Willard Strong

Canada provides numerous opportunities for business residents. It’s a country with a history of an open attitude towards immigrants who help foster cultural diversity and economic growth.

Canada recognizes the benefits of welcoming businesspeople who are looking to create new opportunities for themselves and for its citizens. Immigrating to Canada as a businessperson can be a great move for you as an entrepreneur or investor. But it requires thorough planning and a full understanding of what it takes to move to Canada.

Why businesspeople immigrate to Canada


Businesspeople choose to immigrate to Canada for a number of reasons. Canada bas been recognized consistently as one of the best places to live with a high standard of living that many people enjoy. The country boasts a diverse culture benefiting from high-quality healthcare and superior educational systems.

Most importantly, it’s a country that welcomes entrepreneurs who are looking to build businesses and create new opportunities for themselves and their community. Canada’s Business Immigration program is the foundation of its commitment to encourage and assist businesspeople looking to make the move.

There are 3 classifications of businesspeople with respect to Canadian immigration:
  1. Investors
  2. Entrepreneurs
  3. Self-employed

Investors moving to Canada


The Canadian government classifies an investor as any individual who has operated a business for at least 2 years or has experience in a senior executive position. After an initial interview, you are requested to make a 5-year investment of $800,000 CAD in a government-approved fund.

Once approved, you have 110 days to deposit this investment into a bank or brokerage firm approved by the Canadian government. Financing is also available as an alternative to liquidating assets for the initial investment. In addition, you are required to have a net worth of $1,600,000 CAD in assets. This can include those of a spouse as well.

Under the Canadian Immigrant Investor program, applicants who are approved are granted permanent and unconditional residential visas and gain eligibility to obtain full citizenship.

Entrepreneurs


Canadian business immigration
Entrepreneurial immigrants are sought for their business skills
To obtain classification as an entrepreneur, you must demonstrate the ability to establish or purchase a business in Canada. You can also make an investment in the same way in which investors are required.

In addition, your business should create new jobs for a minimum of one Canadian citizen or permanent resident outside of any family members. The Canadian government must also ensure that you’re able to manage a business within the country before granting you residency.

Self-employed


The self-employed classification requires you to have the experience and intention of being self-employed while living in Canada. Contributions to economic activities must also be ensured to receive residency under this classification.

The established business must create and maintain employment while enabling you to contribute to the country’s cultural activities. Experience consists of 2 years of self-employment beginning 5 years prior to the application date.

Preparing to immigrate


If you’re considering immigrating to Canada as a businessperson, it’s recommended that you make an initial visit to become familiar the environment.

You will get a better impression of the potential challenges and opportunities with respect to your business. Each province can vary, making it important to explore your options before settling down.

Applying for residency


As a businessperson, you must first apply outside of the country. Authorized business immigration offices can be used to begin the application process. You’ll need to have all of the required documents in place including any educational diplomas, marriage certificates, and medical documentation.

You’ll also need to establish at least 3 months of private medical insurance in Canada prior to your move. You, along with family members, must pass a medical exam. Any condition that poses a danger to public health and safety will disqualify you from residency.

Any condition that would place a significant demand on health or social services will also result in denial of residency. This includes long-term hospitalization or care for physical or mental issues.

In order to be accepted, you’ll need to meet the requirements for any of the 3 classifications: investor, entrepreneur, or self-employed. In addition, there are 5 factors that are assessed: age, education, experience, adaptability, and official language.

Canadian business immigration requires preparation and the ability to qualify for one of the three classifications. Each one has its own definition and criteria that must be met before acceptance and residence can be granted.

Canada offers opportunities for all businesspeople. It’s a culture that welcomes new residents from all over the world, and is committed to creating a diverse culture that contributes to the well being of all Canadian citizens.

About the author: Researching on the economy thrills me, the various possibilities and opportunities lies in every aspect of the life. This research  allows me to help out people who are really finding it difficult to find a source or figuring out what to do with the resources they have. Basically, I am an Economist. – Willard Strong.
Images licenses: Royalty Free or iStock source: www.shutterstock.com

1 comment:

  1. I agree to a certain extent. People who come to work can contribute and improve society in a number of ways. They can provide a needed skill, produce a product that others need or desire, provide a service that would otherwise go unmet, or build infrastructure that can benifit many.

    Job in Canada

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