Immigration and Refugee Protection Regulations (SOR/2002-227)

Regulations are current to 2014-12-08 and last amended on 2014-11-22. Previous Versions

Division 2Business Immigrants

Interpretation

Marginal note:Definitions
  •  (1) The definitions in this subsection apply in this Division.

    “agent”

    « mandataire »

    “agent” means, in respect of a fund, the Minister acting as an agent on behalf of a fund that has been approved by a province.

    “allocation period”

    « période de placement »

    “allocation period” means, in respect of the provincial allocation of an investor, the period of five years beginning on the first day of the second month after the month in which the agent receives the investment.

    “approved fund”

    « fonds agréé »

    “approved fund” means a fund that is approved by the Minister under section 91.

    “business experience”

    « expérience dans l’exploitation d’une entreprise »

    “business experience”, in respect of

    • (a) an investor, other than an investor selected by a province, means a minimum of two years of experience consisting of

      • (i) two one-year periods of experience in the management of a qualifying business and the control of a percentage of equity of the qualifying business during the period beginning five years before the date of application for a permanent resident visa and ending on the day a determination is made in respect of the application,

      • (ii) two one-year periods of experience in the management of at least five full-time job equivalents per year in a business during the period beginning five years before the date of application for a permanent resident visa and ending on the day a determination is made in respect of the application, or

      • (iii) a combination of a one-year period of experience described in subparagraph (i) and a one-year period of experience described in subparagraph (ii);

    • (b) an entrepreneur, other than an entrepreneur selected by a province, means a minimum of two years of experience consisting of two one-year periods of experience in the management of a qualifying business and the control of a percentage of equity of the qualifying business during the period beginning five years before the date of application for a permanent resident visa and ending on the day a determination is made in respect of the application; and

    • (c) an investor selected by a province or an entrepreneur selected by a province, has the meaning provided by the laws of the province and is calculated in accordance with the laws of the province.

    “debt obligation”

    « titre de créance »

    “debt obligation” has the same meaning as in subsection 2(1) of the Canada Business Corporations Act.

    “entrepreneur”

    « entrepreneur »

    “entrepreneur” means a foreign national who

    • (a) has business experience;

    • (b) has a legally obtained minimum net worth; and

    • (c) provides a written statement to an officer that they intend and will be able to meet

      • (i) in the case of an entrepreneur selected by a province,

        • (A) if there are provincial conditions that the entrepreneur is required by subsection 98(2) to meet, those conditions, as well as the conditions set out in subsections 98(3) to (5), and

        • (B) if there are no provincial conditions that the entrepreneur is required to meet, the condition set out in paragraph 98(5)(a), and

      • (ii) in the case of any other entrepreneur, the conditions set out in subsections 98(1) and (3) to (5).

    “entrepreneur selected by a province”

    « entrepreneur selectionné par une province »

    “entrepreneur selected by a province” means an entrepreneur who

    • (a) intends to reside in a province the government of which has, under subsection 8(1) of the Act, entered into an agreement referred to in subsection 9(1) of the Act with the Minister whereby the province has sole responsibility for the selection of entrepreneurs; and

    • (b) is named in a selection certificate issued to them by that province.

    “former Regulations”

    « ancient règlement »

    “former Regulations” has the same meaning as in subsection 316(1).

    “full-time job equivalent”

    « équivalent d’emploi à temps plein »

    “full-time job equivalent” means 1,950 hours of paid employment.

    “fund”

    « fonds »

    “fund” means a corporation that is controlled by the government of a province and is authorized to create or continue employment in Canada in order to foster the development of a strong and viable economy.

    “investment”

    « placement »

    “investment” means, in respect of an investor, a sum of $800,000 that

    • (a) in the case of an investor other than an investor selected by a province, is paid by the investor to the agent for allocation to all approved funds in existence as of the date the allocation period begins and that is not refundable during the period beginning on the day a permanent resident visa is issued to the investor and ending at the end of the allocation period; and

    • (b) in the case of an investor selected by a province, is invested by the investor in accordance with an investment proposal within the meaning of the laws of the province and is not refundable for a period of at least five years, as calculated in accordance with the laws of the province.

    “investor”

    « investisseur »

    “investor” means a foreign national who

    • (a) has business experience;

    • (b) has a legally obtained net worth of at least $1,600,000; and

    • (c) indicates in writing to an officer that they intend to make or have made an investment.

    “investor selected by a province”

    « investisseur sélectionné par une province »

    “investor selected by a province” means an investor who.

    • (a) intends to reside in a province the government of which has, under subsection 8(1) of the Act, entered into an agreement referred to in subsection 9(1) of the Act with the Minister whereby the province has sole responsibility for the selection of investors; and

    • (b) is named in a selection certificate issued to them by that province.

    “language skill area”

    « habileté langagière »

    “language skill area” means speaking, oral comprehension, reading or writing.

    “minimum net worth”

    « avoir net minimal »

    “minimum net worth” means

    • (a) in respect of an entrepreneur, other than an entrepreneur selected by a province, $300,000; and

    • (b) in respect of an entrepreneur selected by a province, the minimum net worth required by the laws of the province.

    “net assets”

    « actif net »

    “net assets”, in respect of a qualifying business or a qualifying Canadian business, means the assets of the business, minus the liabilities of the business, plus shareholder loans made to the business by the foreign national who is making or has made an application for a permanent resident visa and their spouse or common-law partner.

    “net income”

    « revenu net »

    “net income”, in respect of a qualifying business or a qualifying Canadian business, means the after tax profit or loss of the business plus remuneration by the business to the foreign national who is making or has made an application for a permanent resident visa and their spouse or common-law partner.

    “net worth”

    « avoir net »

    “net worth”, in respect of

    • (a) an investor, other than an investor selected by a province, means the fair market value of all of the assets of the investor and their spouse or common-law partner minus the fair market value of all of their liabilities;

    • (b) an entrepreneur, other than an entrepreneur selected by a province, means the fair market value of all of the assets of the entrepreneur and their spouse or common-law partner minus the fair market value of all of their liabilities; and

    • (c) an investor selected by a province or an entrepreneur selected by a province, has the meaning provided by the laws of the province and is calculated in accordance with the laws of the province.

    “percentage of equity”

    « pourcentage des capitaux propres »

    “percentage of equity” means

    • (a) in respect of a sole proprietorship, 100 per cent of the equity of the sole proprietorship controlled by a foreign national or their spouse or common-law partner;

    • (b) in respect of a corporation, the percentage of the issued and outstanding voting shares of the capital stock of the corporation controlled by a foreign national or their spouse or common-law partner; and

    • (c) in respect of a partnership or joint venture, the percentage of the profit or loss of the partnership or joint venture to which a foreign national or their spouse or common-law partner is entitled.

    “provincial allocation”

    « quote-part provinciale »

    “provincial allocation” means the portion of an investor’s investment in an approved fund calculated in accordance with subsection (2).

    “qualifying business”

    « entreprise admissible »

    “qualifying business” means a business — other than a business operated primarily for the purpose of deriving investment income such as interest, dividends or capital gains — for which, during the year under consideration, there is documentary evidence of any two of the following:

    • (a) the percentage of equity multiplied by the number of full time job equivalents is equal to or greater than two full-time job equivalents per year;

    • (b) the percentage of equity multiplied by the total annual sales is equal to or greater than $500,000;

    • (c) the percentage of equity multiplied by the net income in the year is equal to or greater than $50,000; and

    • (d) the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000.

    “qualifying Canadian business”

    « entreprise canadienne admissible »

    “qualifying Canadian business” means a business operated in Canada by an entrepreneur — other than a business operated primarily for the purpose of deriving investment income, such as interest, dividends or capital gains — for which there is in any year within the period of three years after the day the entrepreneur becomes a permanent resident documentary evidence of any two of the following:

    • (a) the percentage of equity multiplied by the number of full-time job equivalents is equal to or greater than two full-time job equivalents per year;

    • (b) the percentage of equity multiplied by the total annual sales is equal to or greater than $250,000;

    • (c) the percentage of equity multiplied by the net income in the year is equal to or greater than $25,000; and

    • (d) the percentage of equity multiplied by the net assets at the end of the year is equal to or greater than $125,000.

    “relevant experience”

    « expérience utile »

    “relevant experience”, in respect of

    • (a) a self-employed person, other than a self-employed person selected by a province, means a minimum of two years of experience, during the period beginning five years before the date of application for a permanent resident visa and ending on the day a determination is made in respect of the application, consisting of

      • (i) in respect of cultural activities,

        • (A) two one-year periods of experience in self-employment in cultural activities,

        • (B) two one-year periods of experience in participation at a world class level in cultural activities, or

        • (C) a combination of a one-year period of experience described in clause (A) and a one-year period of experience described in clause (B),

      • (ii) in respect of athletics,

        • (A) two one-year periods of experience in self-employment in athletics,

        • (B) two one-year periods of experience in participation at a world class level in athletics, or

        • (C) a combination of a one-year period of experience described in clause (A) and a one-year period of experience described in clause (B), and

      • (iii) in respect of the purchase and management of a farm, two one-year periods of experience in the management of a farm; and

    • (b) a self-employed person selected by a province, has the meaning provided by the laws of the province.

    “self-employed person”

    « travailleur autonome »

    “self-employed person” means a foreign national who has relevant experience and has the intention and ability to be self-employed in Canada and to make a significant contribution to specified economic activities in Canada.

    “self-employed person selected by a province”

    « travailleur autonome sélectionné par une province »

    “self-employed person selected by a province” means a self-employed person

    • (a) who intends to reside in a province the government of which has, under subsection 8(1) of the Act, entered into an agreement referred to in subsection 9(1) of the Act with the Minister whereby the province has sole responsibility for the selection of self-employed persons; and

    • (b) is named in a selection certificate issued to them by that province.

    “specified economic activities”

    « activités économiques déterminées »

    “specified economic activities”, in respect of

    • (a) a self-employed person, other than a self-employed person selected by a province, means cultural activities, athletics or the purchase and management of a farm; and

    • (b) a self-employed person selected by a province, has the meaning provided by the laws of the province.

  • Marginal note:Provincial allocation

    (2) For the purposes of the definition “provincial allocation” in subsection (1), the provincial allocation shall be calculated as of the first day of the allocation period in accordance with the formula

    A + B

    where

    A 
    equals $400,000 divided by the number of approved funds that are not suspended; and
    B 
    equals $400,000 multiplied by the gross domestic product at market prices of the province that has approved the non-suspended fund, divided by the total of the gross domestic products at market prices of all of the provinces that have approved a non-suspended fund.
  • Marginal note:Gross domestic product

    (3) For the purposes of subsection (2), the gross domestic product is the one for the calendar year before the calendar year that immediately precedes the date of provincial allocation, as set out in the table entitled “Provincial accounts GDP at market prices by province (millions of dollars)” in the Canadian Economic Observer Historical Statistical Supplement, published by Statistics Canada.

  • SOR/2003-383, s. 4;
  • SOR/2004-167, s. 31;
  • SOR/2010-218, s. 1;
  • SOR/2011-124, s. 1;
  • SOR/2012-274, s. 15.