A report on business optimism by Canada’s central bank earlier this month found that businesses are expressing confidence in the Canadian economy and expect it grow over the next few years. In addition, a survey of the housing market by ReMax Canada reports that sales of luxury homes in Canada are currently at an all-time high due in large part to improved economic performance and an increase in personal wealth. Positive reports such as the above are being released regularly in recent months, demonstrating not only that the Canadian economy has been resilient in the face of the global economic downturn, but also that Canada is a top country in which to invest or start a business.
The first study, called the Business Outlook Survey, was conducted by the Bank of Canada and is a quarterly review of Canadian executives’ general feeling on the economy and their predictions for interest rates and inflation.
The second report is a study by Canada’s top real estate organization, ReMax, regarding upper end housing in 13 Canadian regions. ReMax found that, not only has the upper end housing market bounced back from recent years, but it has shattered all existing records for luxury home sales in Canada.
Given the positive direction that the Canadian economy is headed in, this is an ideal time for individuals who have considered investing in Canada or starting a Canadian business to get started. Not only would they be taking advantage of the stability and security of Canada’s economy, but they may also be eligible for a number of Canadian Business Immigration programs.
Requirements for Canada’s Business Immigration programs vary depending on whether the applicants are interested in moving to the province of Quebec or elsewhere in Canada, and whether they wish to simply make an investment or start up a business:
- Investor programs: For both the Federal and Quebec programs, applicants must have legally acquired a minimum net worth of CAD $800,000. In addition, applicants under both programs must agree to make a government guaranteed investment CAD$400,000, which can be financed. Five years after the investment is made, this sum is returned to the applicant, without interest. In addition, the applicants under both programs must show at least two years of qualifying business experience in the last five years.
- Entrepreneur programs: To immigrate to Canada under the federal Entrepreneur program, an applicant must have accumulated a minimum net worth of CAD $300,000 and at least two years of business experience (defined as ownership and management of a qualifying business) within the five years prior to the date of application. The province of Quebec, which is responsible for selecting its own immigrants, has its own program with a similar net worth and business background requirement.
To learn more about Canada’s Business Immigration programs, including the benefits and detailed requirements for each program, consult the professionals at Campbell Cohen, who can help you further your Canadian immigration plans. You can contact us directly or fill out our free Canadian Business Immigration eligibility assessment.