How do I satisfy Citizenship and Immigration Canada that my net worth was obtained legally?
You must be able to prove that no portion of your net worth was obtained through criminal activity. You will be asked to explain any discrepancies between your net income over the years and your present net worth. The visa officer who assesses your net worth may ask you for documents to back up both your income sources and your net worth.
What documents do I receive after I make my investment?
You will receive a zero interest promissory note that is not transferable. You cannot sell the promissory note, but you can use it as collateral for a loan. At the maturity date, you must return the promissory note to Citizenship and Immigration Canada for repayment of your C$400,000 investment.
What are the requirements for qualifying as an entrepreneur?
To qualify as an entrepreneur, you must have at least two years of business experience and a net worth of at least C$300,000 that was obtained legally. You must also obtain a minimum of 35 points in a selection grid designed to determine whether you will be able to become economically established in Canada. You must also make a commitment to own and operate a business in Canada that will contribute to the economy and create jobs. After you become a permanent resident in Canada, you will have three years to meet the conditions of the Entrepreneur Class.
What are the requirements for qualifying as a self-employed person?
To qualify as a self-employed person, you must have two years of relevant experience and show that you intend to become self-employed in Canada. You must also obtain a minimum of 35 points in a selection grid designed to determine whether you will be able to become economically established in Canada.
What is meant by “cultural activities”?
“Cultural activities” include occupations generally considered to be part of Canada’s artistic and cultural field. Examples include authors and writers, creative and performing artists, musicians, painters, sculptors and other visual artists, technical support and occupations in motion pictures, creative designers and craftspeople.
What are specified economic activities?
You must plan to be self-employed in Canada in cultural or athletic activities, or purchase and manage a farm.
What is meant by a “significant contribution”?
There is no formal definition of what constitutes a significant contribution. This gives visa officers the ability to use their judgment and allow them to recognize that a contribution to athletics or the arts, even at less than a national standard, may still be of significant benefit at the local level. For example, a music teacher with reasonable qualifications will be in a better position to make a significant contribution in a small town than in a large city. Please note that you must contribute to economic activities in Canada. While this does not preclude some activities outside of Canada, your experience must include a significant contribution within Canada.
Are there any reporting requirements for Self-employed once they arrive in Canada?
No. Unlike the Entrepreneur Program, you do not have to meet any conditions after becoming a permanent resident of Canada. However, there are requirements to retain your status as a permanent resident.
Is there a net worth requirement for Self-employed class?
There is no regulated minimum net worth requirement. However, you will have to satisfy a visa officer that you have sufficient funds to settle in Canada with your dependants, and to finance the economic activities on which your selection was based. For example, if you are a farmer, you will have to prove that you have sufficient funds to purchase and operate a farm in Canada.