December 5, 2003
Amnesty, CSS and LULAC cases may apply for
Canada immigration under Business Category
In recent weeks, many people living in USA have received letter of deportation from the INS as the courts have rejected their Amnesty, CSS and LULAC cases. These people have no other recourse to stay in USA and apply for any type of visa and have to go back to their home countries.
Such individuals have an option to apply for immigration to Canada under the business immigration category provided they own and manage a business in the USA and have a social security number. Businessmen from other countries can also apply under this class.
There are two main classes under which businesspersons can apply for Canadian Permanent Immigration.
1. Entrepreneur Class:
Under this category one must satisfy the government that:
a. The applicant has the ability and intention to establish or purchase a business or make an investment in Canada.
b. The applicant will create a job for one Canadian citizen or permanent resident other than his/her family members.
c. The applicant will participate and has the ability to run & manage a business in Canada.
d. The applicant has net assets worth $300,000 CD and above. Net assets include business, land, property, house and cash.
However one cannot start or plan to start a business under the following categories and apply for Canadian immigration:
i. Import of goods into Canada
ii. Investment in rental property in Canada
iii. Business in which the applicant has no previous experience
After arrival in Canada, businesspersons may start any business they like which seems profitable, except in the categories mentioned above. They may also apply for a bank loan and they are entitled to all government grants, subsidies and bank facilities that are available to Canadian citizens. Under this class some investment money can come through inheritance within the family business. Under this class applicant can start retail businesses such as hotel motel, restaurants, grocery stores or any type of manufacturing unit.
2. Investor Class:
Under this class a businessperson must satisfy the government that:
a. He/She has successfully started and operated a business outside Canada
b. He/she is willing to make an investment of $400,000 CD in an approved fund (fixed deposit) for a period of five years.
Under this class the businessperson from his/her own business activity should have generated all money and should have a net worth of $800,000 CD in worldwide assets.
A credit line / loan of $ 400,000 CD is available from a number of government-approved banks such as the National Bank of Canada. The interest on the loan is equivalent to $125,000 CD which is payable after approval of the visa application but before the visa is issued. This is only a one-time interest.
Under the investor class there is no requirement to start a business in Canada.
There are no age or language requirements for either of the above categories. However, good working knowledge of English can always increase one's chances of immigration.
Visa is issued to the whole family that is husband, wife and children under the age of 22 years. Applicants residing in USA can expect to be called for an interview within 6-9 months time.
For applicants residing in USA this could be a very viable option. Upon immigrating to Canada, they can apply for Canadian citizenship after three years of residency. Being a Canadian citizen they may start a business in USA under the NAFTA agreement.