Starting fresh in Canada with $140K.

[Thirty30]

Hello,
I've posted earlier about my desire to pursue higher education in Canada and compete in express entry after graduation. However, my goals have shifted. For personal reasons, I've decided to leave my country and reside in Canada. My goal is to get a small apartment or a small house in any rural area and think of a small business for passive income.

From a legal point standpoint, what should I be worried about? I've read that entrepreneur immigration requires 6 figures net worth. Counting every penny to my name, It comes out to be roughly $140K.


I'd appreciate any ideas and recommendations before I go on this uncertain adventure.

Thank you!

 

[scylla]

Hello,
I've posted earlier about my desire to pursue higher education in Canada and compete in express entry after graduation. However, my goals have shifted. For personal reasons, I've decided to leave my country and reside in Canada. My goal is to get a small apartment or a small house in any rural area and think of a small business for passive income.

From a legal point standpoint, what should I be worried about? I've read that entrepreneur immigration requires 6 figures net worth. Counting every penny to my name, It comes out to be roughly $140K.


I'd appreciate any ideas and recommendations before I go on this uncertain adventure.

Thank you!

Which entrepreneur program are you looking at? Which province? Generally speaking, you need to have a net worth of at least $500,000 and be able to invest around $150,000 or more in a business in the province.

 

[Thirty30]

Which entrepreneur program are you looking at? Which province? Generally speaking, you need to have a net worth of at least $500,000 and be able to invest around $150,000 or more in a business in the province.

I'm open to any program in any province as long as it doesn't have the $500k limit. My question is that Can I reside and start a business legally in Canada with $140k?

 

[scylla]

I'm open to any program in any province as long as it doesn't have the $500k limit. My question is that Can I reside and start a business legally in Canada with $140k?

I'm not aware of any entrepreneur program that has net worth levels that are this low. Entrepreneur immigration isn't an option for you based on what I know.

If you want to reside in Canada as a temporary worker and run a business, you would need to look into an owner / operator LMIA.

 

[KRP]

Hello,
I've posted earlier about my desire to pursue higher education in Canada and compete in express entry after graduation. However, my goals have shifted. For personal reasons, I've decided to leave my country and reside in Canada. My goal is to get a small apartment or a small house in any rural area and think of a small business for passive income.

From a legal point standpoint, what should I be worried about? I've read that entrepreneur immigration requires 6 figures net worth. Counting every penny to my name, It comes out to be roughly $140K.


I'd appreciate any ideas and recommendations before I go on this uncertain adventure.

Thank you!

$140k is not a big sum in Canada. If you invest in business during these pandemic I do not know what will be the outcome. I have friends here who started a restaurant and within a year shut down due to massive losses. Think wisely and move forward.

 

[Copingwithlife]

I'm open to any program in any province as long as it doesn't have the $500k limit. My question is that Can I reside and start a business legally in Canada with $140k?

Also be aware that none of the programs the Government has introduced to support businesses affected by the pandemic would be available to you and your businesses. There are strict dates and conditions connected to program eligibility.
$140k is a very low capital number to start with, especially as someone starting from scratch .

 

[scylla]

Thank you both. Actually, the reason for deciding to leave is political. How about refugee status? Do you think I have a shot? I was not harmed nor do I have any political activities, it's just things have been horribly oppressed in the past 3 years or so. I do not feel safe, mentally.

The claim and threat has to be specific to you. You must provide evidence to show that you yourself have been personally persecuted. It can't just be a generic claim based on the political situation in your country. Based on what you've said above, I don't think a refugee claim would have a high chance of succeeding. You only want to make a claim if you think you have a high chance of succeeding.

 

[unarmed]

hello,
can you please advise up on any province for business immigration, My distant family member has net-worth of 600K CAD and is able to invest 400K for opening business, I will really appreciate your inputs.
Best Regards

 

[SPIRATY]

From a legal point standpoint, what should I be worried about? I've read that entrepreneur immigration requires 6 figures net worth. Counting every penny to my name, It comes out to be roughly $140K.