Canada FIIP and Entrepreneur Program
Canada Federal investor Immigration program FIIP is different from that of Entrepreneurs program to visit Canada and do the business. Immigrant investor program is for the people, those who want to get a permanent residence in Canada against a certain amount of investment. Chinese people are coming to Canada with is option in increasing numbers to invest and settle in the country. Recently Canada government authorities make some changes in the Canada immigrant investment program to avoid the fake investments and Chinese after making investments send their family and relatives. But the actual business person is not visiting the country and actually stays there to get the benefits as per the rules of the country.
The entrepreneurs program otherwise invite entrepreneurs and investors those who want to use the resources of the country and provide some sort of employment to the Canadian people. The actual business people to manage their businesses can apply for the entrepreneurs’ program.
Under the Canada FIIP program, successful candidates will get definite permanent residence in the country. But in the case of the entrepreneur’s visa the applicant must meet some criteria and provide employment for the people for few years as mentioned in the terms and conditions. For both the cases, the applicant has to show the ownership and management of the qualifying business. The FIIP program applicant must have an experience of managing at least 5 people in a business in the home country. FIIP program applicant need not meet any language requirements and can take a translator with him for the interview to qualify for the FIIP program. But in the case of an entrepreneur visa program, the applicant should have an average language skill as the visa holder has to meet the people and converse with them for the development of the business. This is requiring making you a favorite person in the adaptability criteria.
Under the FIIP, the applicant has to make C$800,000 investment. The investment directly goes to the Canadian government and the amount is refundable after five years period. IF the applicant is not able to invest the amount he can at least deposit C$ 1, 80,000 and the rest of the amount will lend as a loan by an approved Canadian financial institution. Under FIIP, the investment has to be made after the successful interview and principal approval of the visa, but before the visa issuance. But at the same time the entrepreneurs program the investment can be made after the visiting the country. The investment is an assistance to boost the Canadian economy and there is no minimum amount prescribed under the scheme.
In both cases a minimum of personal net worth is required; under the FIIP the minimum is C$ 1.6 million and for the entrepreneurs is C$ 3, 00,000.
In both cases the application processing time is a period. For FIIP it is 24-34 months’ time and for the entrepreneur’s scheme, it is 6-7 years period of time.
For more details on the program please contact Global Gateways in Bangalore.