Summary
- Work permit for 18-20 months before Permanent Residency nomination;
- Can buy an existing business or set up a new business;
- Exploration trip not mandatory;
- Interview mandatory;
- Co-applicants possible.
Minimum Eligibility Criteria
- Minimum CAD$800,000 net worth of all assets between husband and wife ($400,000 for outside of GTA);
- Minimum investment CAD$600,000 ($200,000 for outside of GTA);
- For investment in the ICT industry; minimum net worth CAD $400,000 between husband and wife and minimum investment $200,000;
- Minimum hire 2 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
- ELTS/TEF is not mandatory;
- No age limit;
- No education requirements;
- A good option for ICT industry investments (Information Communication Technology) – requires a lower investment value of $200,000.
Disadvantages
- Min 2 years of running the company actively in Canada before being nominated for Permanent Residency;
- Unless the investment in the ICT industry, min requirements are higher.
