Monday 10 August 2015

Business And Investors Programs in Canada

Each edition and aspect of Canadian immigration is followed closely by keen followers waiting to try their luck in a land that offers both the abundance and stability; both in terms of employment; and business and investments. Although in the present perspective, it is widely believed that authorities of the Maple leaf country have tightened the laws of entry for all classes, in practice the schemes target suitable people; and offer good opportunities.

Canada, currently ranked 11th in line of the largest economies of the world, has an ever expanding economy – though slower than in the past – that always attracts people willing to move to this country with their entrepreneurial skills and investible funds. The authorities are also quite aware of the role imported funds have played in past in the development of the country’s economy.

The present array of Canadian Business And Investors Programs, completely revamped editions of the former schemes, are being run at the federal and provincial levels; and seek entry and settlement of those who fulfill the revised parameters and requirements in terms of the financial credentials and exposure. All the schemes have a single aim – to boost the local economy and sustain its competitiveness.

The immigrants applying for obtaining entry permission must meet all the required parameters defined in the Business and Investors Programs schedule. All the schemes – defined in various classes under the federal and provincial categories have specific and typical requirements. The eligibility parameters are controlled by the scheme drafts.

The federal Canada Business and investments schemes, in their current avatar – Entrepreneur start-up visa and Immigrant Investor Venture Capital Pilot Program - are designed to target migrants with outstanding entrepreneurial skills and/or financial credentials. The applicants are expected to carry expansive exposure in the field; for which they are placing their immigration requests.

The Entrepreneur start up visa intends to target those people who have an excellent blueprint for a commercial enterprise; and are able to garner support from a designated capital venture firm. The applicants are also expected to have expansive exposure in managing commercial activities; have compatible linguistic skills in English or French; and have access to adequate financial resources to finance their stay in the country.

Immigrant Investor Venture Capital Pilot Program is a brand new initiative programed to tap immigrants with high net worth; and intentions of making investments in the ventures that are exposed to the market forces and fluctuations. The candidates must also substantiate their financial credentials; linguistic skills; and their educational background.

Besides the federal schemes, many Canadian states are also running parallel Business and Investors Programs – in close coordination with the federal authorities and CIC. Currently, various Canadian states – Manitoba, Saskatchewan, British Columbia, Prince Edward Island,
Ontario, Northwest Territories and Yukon - have incorporated their independent business immigration schemes that cater to the state specific requirements.

To gain entry into Manitoba through its Business and Investor PNP, the applicants must have a net personal asset value of $350,000; they must be prepared to infuse  at least $150,000 into legible business venues. Similarly, Yukon territory is also running a business immigration scheme that needs an infusion of same amount although the net worth mandate has been substantially reduced to CAD 250,000.

Several other states have raised the minimum net worth requirement to CAD 500,000 (Saskatchewan) and CAD 600,000 (British Columbia and PEI). Likewise the mandated investment amount limits have also been raised to 300,000 – by Saskatchewan – and 200,000 – by British Columbia.

Besides this, all the Canada Business and Investor Programs being offered by PNPs now require the applicants to be in possession of relevant exposure in field of business and investments.

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