Immigration and Refugee Protection Regulations

Marginal note:Definitions

• 88 (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. (mandataire)

  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. (période de placement)

  approved fund

  fonds agréé

  approved fund means a fund that is approved by the Minister under section 91. (fonds agréé)

  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. (expérience dans l’exploitation d’une entreprise)

  debt obligation

  titre de créance

  debt obligation has the same meaning as in subsection 2(1) of the Canada Business Corporations Act. (titre de créance)

  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)

  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. (entrepreneur selectionné par une province)

  former Regulations

  ancient règlement

  former Regulations has the same meaning as in subsection 316(1). (ancient règlement)

  full-time job equivalent

  équivalent d’emploi à temps plein

  full-time job equivalent means 1,950 hours of paid employment. (équivalent d’emploi à temps plein)

  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. (fonds)

  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. (placement)

  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. (investisseur)

  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. (investisseur sélectionné par une province)

  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. (avoir net minimal)

  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. (actif net)

  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. (revenu net)

  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. (avoir net)

  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. (pourcentage des capitaux propres)

  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). (quote-part provinciale)

  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. (entreprise admissible)

  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. (entreprise canadienne admissible)

  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. (expérience utile)

  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. (travailleur autonome)

  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. (travailleur autonome sélectionné par une 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. (activités économiques déterminées)

• 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.