Canada needs more businessmen to stimulate the economy
This year, Canada plans to admit up to 265,000 new immigrants
, but like every country looking to attract immigrants from far flung corners of the world has both skilled workers and investors at high on the immigration wish-list. Canada is no exception to this rule. Investors naturally bring money into the Canadian economy as well as providing some much needed goods and services and increased employment opportunities. Nevertheless, the global economic crisis has taken its toll on the number of business people applying for this type of immigrant visa and only 11,600 Business Class visas are expected to be given in 2010. Canada immigration is still keen to bring in fresh blood successful foreign entrepreneurs who have knowledge and access to other markets outside of Canada. Canadas rigorous campaign to attract investors has resulted in this group of immigrants making up around 10% of the total immigration, market. To this end Canada has offices in several Canadian embassies, who are dedicated to serve the Business Class entrepreneur and investor. Specific target countries for the Business Class Programme are within Europe, France, UK and Germany (Paris, London and Bonn), USA (Buffalo), within Asia and the Middle East China (Beijing and Hong Kong), South Korea (Seoul), Singapore and Syria (Damascus). The Federal Business Immigration Programme is divided into three distinct subgroups; Investor, Entrepreneur and Self Employment with each province applying its own criteria in order to attract a large slice of the business investor cake. Investors must have a proven track record in business and net assets of at least $800,000 and are prepared to make a business investment of $400,000 in Canada, which is akin to giving the Canadian government an interest free loan over five years. Entrepreneurs are classed as experienced business people with a net worth of $300,000 and can testify before an immigration officer that they will spend at least a year within the first three years of becoming a Canadian permanent resident controlling at least a third of a Canadian business, which qualifies for the programme and that they will create at least one full-time post, which can be filled by a Canadian citizen outside of the entrepreneurs family. Self employed persons must prove that they have business experience and will be able to do business in Canada and that they have sufficient funds to buy a business in Canada, where the applicant will work. Furthermore, all applicants regardless of which subcategory they fall into are assessed in terms of their business experience, level of education, age, language ability (in either English or French) and their perceived ability to adapt to Canadian life. Points are allotted for each of these criteria and each applicant must achieve a minimum of 35 points. Business experience scores higher than any other category on the points list. Business applicants are permitted to bring immediate family (namely spouse and children) to Canada and do not need to file separately for them they can include them as dependants as part of their visa application. Canada offers a great new life with a sophisticated market, which welcomes new business. Business people interested in applying for a visa under the Federal Business Immigration Programme should check out the
Canada Immigration Law website Canada needs more businessmen to stimulate the economy
By: Libby Andrews
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