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Business Immigration: Good Idea Or Bad?

Thu - Apr, 25 2024

Canada’s Business Immigration Plan is a plan started by the Canadian Government to attract experienced people with money in order to boost the Canadian economy.

Prospective immigrants must have a net worth of at least $800,000 and must make an investment of $400,000 in the Canadian economy.

There are 3 classes of Business Immigrants, each with separate eligibilty requirements.

Investors
The Immigrant Investor Program (IIP) wants to find experienced business persons and their capital to Canada. The Immigrant Investors must demonstrate business experience and a legally obtained minimum net worth of CAN $800,000, and must make an investment of $400,000 in the Canadian economy.

Entrepreneurs
The Entrepreneur Program is searching for experienced business persons who will own and actively manage businesses in Canada that contribute to the economy and create jobs. Entrepreneurs must demonstrate business experience and a minimum legally obtained net worth of CAN $300,000, and are subject to conditions upon arrival in Canada.

Self-employed persons
The Self-Employed Persons Program seeks to attract applicants who have the intention and ability to become self-employed in Canada. Self-employed persons are required to have either (a) relevant experience that will enable them to make a significant contribution to the cultural or athletic life of Canada, or (b) experience in farm management and the intention and ability to purchase and manage a farm in Canada.

The province of Quebec operates its own immigrant investor program. All investors in the Quebec program must both be destined to live in Quebec and selected by Quebec.
Between 1986 to 2000 most Business Immigrants were from Hong Kong, 7,678 or 39.91% of the total number of Business Immigrants.

How effective has this program been in creating jobs and in bringing investment to Canada?
According to Statistics Canada 2000 figures were; full time jobs created 1832, part time jobs created 918.

Canada has an underpopulation problem and has found itself in the same situation as Japan and many European countries. It should actively promote immigration because there is a diminished fertility rate just like in most European countries and Japan.

In Japan things are so bad that only 14% of its population is under the age of 15.

One solution, starnge though it may sound, is to end abortion.
Some observers say that if abortions in Canada halted, the population numbers would be above replacement levels within a year.

At present there are 3 categories of Immigrants to Canada:

Skilled Worker: This category is for professionals and skilled tradespeople with at least one year of continuous work experience.

This class is the most popular class and is also known as the professional class or skilled worker class and the application is assessed based on a point system. An individual should make an application under this class if he/she wishes to come to Canada based on his/her qualifications, work experience and knowledge of the English or French language.
Special provisions apply for immigration to Quebec

Business Class: This category is for managers and business owners with high net worth, and requires an investment in Canada.

This class is also known as the business immigration class. One should make an application under the entrepreneur class and self-employed class if he/she wishes to start a business in Canada. A person should make an application under the investor class if he/she DOES NOT wish to start a business in Canada.

Family Sponsorship: This category is for citizens and permanent residents of Canada who want to sponsor a close family member.

Pierre Trudeau changed Canada’s immigration laws and opened wide the country’s doors to Africans, Asians and West Indians as part of an attempt to fill its huge, underpopulated hinterland.

The result is that today eighteen percent of the population is now foreign-born compared with about 11 percent in the United States, with little or no debate over whether the effects of such change in culture, demographics and national identity is good or bad.

Only in the last 10 years or so have Calgary, Toronto, Montreal and Vancouver, with one third of the population, become multicultural polyglots, with the towers of Sikh temples and mosques becoming mainstays of the skylines and cuisines and fashion becoming concoctions of spices and patterns that are in the vanguard of globalization.

One of the advantages of this cultural diversity is that the population has become more like Europe and has become more tolerant of different views than the United States. However, gun-related crimes in the major cities are increasing at an alarming rate.

About the Author:

Business Immigration, good or bad? by J Schipper