Various entrepreneur programs allow the immigrants to benefit from Canada’s growing economic potential for obtaining permanent residence in Canada for themselves and their family.
To begin with assessing your eligibility under this program, you must make sure to have:
- The promise of support from Canadian venture capital fund, angel investors or business incubators;
- Communication abilities in English or French or both the languages; and
- Sufficient financial support to get settled and cover for the cost of living in Canada before starting to earn from the business;
- The net worth of at least C$300,000 and the experience of having managed a business while controlling at least 33.33% of the qualifying business for minimum 2 years before not more than five years of applying for Canada immigration;
- Offering active management of the Canadian business under consideration;
- Ability to create one or more incremental full-time job for one or more Canada citizens or permanent residents other than the immigration applicant and their immediate families.
While assessing the applications, the key traits of the applicants that are taken into account, are
- Their age
- The nature and duration of their training
- Their language skills
- Their personal qualities and your knowledge of the region
The approach followed by the applicant to acquire a business in the region and their ability to carry out a business project will be the key elements in the assessment.
The Entrepreneurial applicants are needed to sign a statement that they take the responsibility for meeting the conditions for the Canadian Permanent Residence.
All the family members of the entrepreneurship applicant are accepted under the same conditions as the applicant.
Once the main applicant meets those conditions, the conditions do not apply anymore for the family members.