Summary
- Work permit for 18-20 months before PR nomination;
- Can buy an existing business or set up a new business;
- Exploration trip not mandatory but will help to gain points for selection;
- Interview mandatory;
- Co-applicants possible;
- Key staff applicant possible.
Minimum Eligibility Criteria
- Min CAD$600,000 net worth of all assets between husband and wife;
- Min investment CAD$200,000 (typical $400K-$600K for selection purposes);
- Minimum 33% ownership of a new or existing business in Canada;
- Minimum hire 1 Canadian in the new business (typically requires more hiring in order to gain enough points);
- Operate and manage the company in Canada. Requires at least 80% presence in Canada;
- All assets in the home country to be verified by the third party audit company.
Advantages
- IELTS/TEF is not mandatory;
- No age limit;
- No education requirements;
- Can invest more / hire more people to gain more points for selection by the province.
Disadvantages
- Competitive selection;
- Requires higher investment/hiring of Canadian staff to compete for provincial selection;
- Min 2 years of running the company actively in Canada before being nominated for PR.
