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Entrepreneur Category

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.

Some of the key features of the Entrepreneur Program for immigration to Canada include:

• A minimum net worth requirement of CA$300,000;
• A requirement that within 3 years of becoming a permanent resident, the entrepreneur must have controlled and have actively managed a qualifying Canadian business for a period of at least 1 year, and that the business must have created employment opportunities for others; AND
• All family members are admitted under the same conditions as the principal applicant; the conditions are removed once the entrepreneur satisfies the conditions.

To qualify as an entrepreneur, you must have business experience. This means that you must have managed and controlled a percent of equity of a qualifying business. Entrepreneurs must have a legally obtained net worth of at least CA$300,000.

When you immigrate to Canada as an entrepreneur:

• You must have the intention and the ability to control a percentage of equity of a qualifying Canadian business;
• You must provide active and ongoing management of the qualifying Canadian business;
• Your business must create at least one new full-time job for a Canadian citizen or permanent resident; AND
• You must meet these requirements within 3 years of becoming a permanent resident.

Before your immigrant visa is issued, you are required to sign a statement that you intend and will be able to meet the conditions of permanent residence.

Under the Canada-Quebec Accord, the province of Quebec operates its own immigrant entrepreneur program. All entrepreneurs in the Quebec program must intend to live in Quebec and must be selected by Quebec. In common with the federal programs, entrepreneurs in the Quebec program must have a net worth of CA$300,000.