Entrepreneur Category: Funds to Settle

The Canadian government announced a new entrepreneur visa program in Septemer, 2012.

As a result, a moratorium has been placed on all Entrepreneur Program applications until further details of the new program are announced.

Immigration Minister Jason Kenney announced the changes on 12 September, 2012 and more details are expected to be revealed later in 2012.

Further information about changes to Canada visa policy can be found on the Canada Visa Bureau blog as well as the news section.

The Government of Canada provides no financial support to business immigrants. All business applicants must establish that they have enough money to support themselves and their family members for at least 1 year after they arrive in Canada.

This is normally satisfied by the net worth requirement. Nonetheless, you should research the cost of living in the region of Canada where you intend to live and have access to enough capital for your initial establishment.

You should be aware that Canadian legislation requires persons entering Canada to declare cash funds of CA$10,000 or more. You will have to disclose these funds to a Canadian official upon arrival.

Cash funds are defined as:

Money (coins or bank notes);
Securities in bearer form (stocks, bonds, debentures, treasury bills, etc.); AND
Negotiable instruments in bearer form (bank drafts, travellers' cheques, money orders, etc.).