ENTREPRENEURS

The Entrepreneur Program seeks to attract experienced businesspersons that will own and actively manage businesses in Canada that will contribute to the economy and create jobs.

Entrepreneurs must demonstrate business experience and a minimum net worth of 300,000 CAD. An Entrepreneur's net worth need not have been created by his/her own endeavors but, rather, must have been "legally obtained" (i.e. inheritance, gift, etc.). Assets of an Entrepreneur's spouse/common-law partner/same-sex partner are also included when assessing net worth.

Unlike Investors, the only way in which an Entrepreneur can demonstrate business experience is through management and control of a qualifying business of sufficient size.

Entrepreneurs will be required to provide documentation proving that, within any two (2) of the last five (5) years, they controlled and managed a Qualifying Business that meets any two (2) of the defined requirements/attributes for full-time (37.5 hours per week or more) employees, sales, net income and equity.

The following chart sets out the minimum requirements for a Qualifying Business at various percentages of ownership.

PERCENTAGE OWNERSHIP OF BUSINESS

ATTRIBUTE		100%	50%	20%
(i)	FULL-TIME EMPLOYEES	2	4	10
(ii)	SALES (CAD)	500,000	1,000,000	2,500,000
(iii)	NET INCOME (CAD)	50,000	100,000	250,000
(iv)	EQUITY (CAD)	125,000	250,000	625,000

Assuming that an individual successfully applies for and receives Canadian Permanent Residence as an Entrepreneur, he/she will be required to document that, for a period of at least one (1) year within a period of not more than three (3) years after landing, he/she owned and managed a Qualifying Canadian Business that meets any two (2) of the defined requirements/attributes for full-time (37.5 hours per week or more) employees, sales, net income and equity.

The following chart sets out the minimum requirements for a Qualifying Canadian Business at various percentages of ownership.

PERCENTAGE OWNERSHIP OF BUSINESS

ATTRIBUTE		100%	50%	33.33%
(i)	FULL-TIME EMPLOYEES	2	4	6
(ii)	SALES (CAD)	250,000	500,000	750,000
(iii)	NET INCOME (CAD)	25,000	50,000	75,000
(iv)	EQUITY (CAD)	125,000	250,000	375,000

At least one (1) incremental, full-time equivalent (37.5 hours per week or more) job must be created for someone other than the Entrepreneur and the Entrepreneur's dependants. In addition, the Entrepreneur must have provided active and ongoing participation in the management of the business for at least one (1) year. A minimum of one-third (1/3) ownership is required.

CONTACT US:

AK Immigration Consultants Inc
#2240- 4871 Shell Road, RICHMOND, B.C, CANADA V6X3Z6 Phone: 604-598-8383 Fax:604-598-8386 Email us: info.akconsultants@shaw.ca