arunb

New member
Aug 14, 2021
2
0
1
Hi,

I am a director in my family owned company in India, and have been handling the technical, marketing & sales aspect of the business. I have 5 workers under me, who report to me. I have been in this job for 15 years now. I own 40% of the company

I have a valid visa to Canada & have been there twice in the past few years. I would like to open a new company there that will be used to sell products manufactured in the Indian company, both within Canada & USA. We already have customers there in USA & Latin America. We would also like to expand into the Canadian market as well, which is yet un-tapped by us.

My company has the funds to invest in Canada, Ontario or BC. However my personal net worth is lower than the expected 400,000- 600,000 CAD. It is 275,000 CAD. This includes all my assets, money in bank, shares etc. Only the North West territories province meets my net worth, however the Business PNP scheme is closed indefinitely.

Do I still have any chance in getting into the PNP scheme in Ontario or BC?? Maybe any other ??

I am also considering Startup Visa option, do you think I will qualify in that??

Thanks
a
 

xdn

New member
Jul 8, 2021
12
7
3
Ontario:

Not suitable for Ontario

Net worth​

You must have a minimum personal net worth. If your proposed business is to be located:

  • within the Greater Toronto Area (City of Toronto and Durham, Halton, York and Peel regions) you must have a minimum personal net worth of $800,000 Canadian
  • outside of the Greater Toronto Area, you must have a minimum personal net worth of $400,000 Canadian

Also this

Personal investment funds and minimum equity​

You must make minimum investments in your business from your personal net worth. If your proposed business is to be located:

  • within the Greater Toronto Area, you must make a minimum personal investment of $600,000 Canadian
  • outside of the Greater Toronto Area, you must make a minimum personal investment of $200,000 Canadian
You must control at least one-third of the equity in the business.

If your proposed business is in the information and communications technology/digital communications sector then regardless of location, you must make a minimum personal investment of $200,000 Canadian and control at least of one-third of the equity in the business.

Please note that passive investments, including mutual and/or pooled fund securities, while permissible for the purpose of satisfying the minimum personal net worth criterion, are ineligible for inclusion in an applicant’s minimum business investment amount. So most likely you need CA$ 200,000 of liquid funds of your own for the min business investment amount. And this applies to almost all the entrepreneur programs in Canada. Some provinces may need 100,000, some need 200,000 or more.

British Columbia:

The BC Entrepreneur Base Category program is on pause mode and not accepting new applications. However, BC Entrepreneur Regional Pilot is open and has lower net worth requirement.

WelcomeBC / BC PNP Entrepreneur Immigration | BC, Canada

Check out the program guide:

https://www.welcomebc.ca/Immigrate-to-B-C/documents/BC-PNP-EI-Regional-Pilot-Program-Guide.aspx

BC Entrepreneur Regional Pilot Net worth:
2.2 (B) Personal Net Worth You must have a minimum of $300,000 in personal net worth, which includes your spouse or common-law partner, and your dependent children, if applicable. Your personal net worth must be legally obtained and verifiable.

Eligible Personal Investment

2.4 (A) Eligible Personal Investment You must make an eligible personal investment of at least $100,000 in the proposed business within 610 days (approximately 20 months) of arriving in B.C. on a BC PNP-supported work permit. The minimum eligible personal investment of $100,000 must be derived from your personal net worth. The proposed investment must be directed to one business location. Eligible personal investment is the minimum required investment of eligible business expenditures, which may include: • new equipment purchases • leasehold improvements • marketing costs • regular operating expenses such as rent, wages, utilities, etc. • start-up inventory

Other Provinces Net worth requirements:

Prince Edward Island: $600,000
Manitoba: $500,000
Saskatchewan: $500,000

One other option is Alberta however it requires fresh foreign graduates:

Regarding Start up Visa, you need to get a letter of support from a designated organization

To apply for the Start-up Visa Program, your business idea or venture must get the support of one or more of the designated organizations listed below:


 

arunb

New member
Aug 14, 2021
2
0
1
Thanks.
How about Rural Pilot programs in BC. I believe personal net worth is 300,000. I can raise my net worth to 300k. But what are my chances of getting an entry in the rural programs? What problems does one face in this area?