Secrets of Successful Immigrants In Canada
Immigrants are good for Canadian economy. The most skilled create jobs in technology and engineering. 2009 immigrant-founded engineering and tech companies employed more than 150,000 people and generated $25 billion in sales. Immigrants contribute to the economic growth of their host countries in many ways, bringing new skills and competencies with them and helping to reduce labour shortages.
Immigrant entrepreneurship has gone beyond traditional ethnic businesses, into a wide range of sectors and innovative areas. Is there a market here for skilled labour? Actually, Canada is seeing signs of worker shortages in several professions – including engineers, doctors and nurses, to name a few. Added to this is the fact that the population in some provinces is shrinking, and employers are having difficulty filling their rosters with skilled help. Paul Darby, director of the Conference Board of Canada, estimates a shortfall of 3 million skilled workers by the year 2020.
The Canadian government issues immigrant visas to business immigrants who qualify under the Business Immigration program. There are three categories of business immigrants: Entrepreneurs, Investors and Self-Employed persons. Each program has its own criteria for selection, and require Business Experience as defined in the immigration regulations. An Entrepreneur must have a minimum of two years of business management and ownership of a percentage of equity in a business within the past 5 years. The business must meet certain specified criteria that relate to the number of employees, the total annual revenue, net income and net assets. The entrepreneur must also demonstrate a personal net worth of at least $300,000 CAD. If the applicant meets these criteria, then he or she will be issued an immigrant visa and become a permanent resident subject to the condition that he or she starts or purchases a business that meets certain minimum requirements for any one year period within the first 3 years of becoming a permanent resident. If the conditions are met then they are lifted, if they are not met then the immigration department may take steps to attempt to remove the permanent residence status.
An Investor must have a minimum personal net worth of at least $1,600,000 CAD that has been legally obtained, and meet the specified criteria regarding past business ownership or management. If these criteria are met, then he or she must invest $800,000 in a government guaranteed investor fund for a five year period. During those 5 years there is no interest paid on this money, but the return of the principal to the applicant is guaranteed by the government. Financing is available for the investment amount. There are no conditions attached to the permanent residence status of an investor.
The Self-Employed category requires an ability to be self-employed in Canada in the field of cultural activities, athletics or the purchase and management of a farm. The applicant must have experience in one of these areas and if successful, will be issued an immigrant visa that is not subject to any terms and conditions.
It is important to be represented by a competent, experienced lawyer in filing a business immigrant application, to ensure the greatest chance of success with a minimal amount of delay in the processing. For further information and a free assessment, please contact us at
Marisol Diaz is Business developer and author specializing in helping clients create fulfilling and meaningful career opportunities for local and international trained professionals. Get help creating your own exciting career opportunities in Canada with a step-by-step books and guides, seminars and Workshops such as “Steps to Starting Your Own Business” in Canada. Check also Business, Jobs & Careers products