There is no officially regulated minimum net worth prerequisite for the Self-Employed Persons Program. However, applicants must demonstrate sufficient funds to settle in Canada, support their dependents, and finance the work upon which their selection is based.
Using a point-based grading system to assess the eligibility of business immigration applicants, the Federal Self-Employed Persons Program also requires applicants to possess two years of relevant work experience within their field as proof that they can be gainfully self-employed in any Canadian province except Quebec.
Eligibility Requirements for the Self-Employed Persons Program
To be considered eligible for assessment, a foreign national must first meet the Government of Canada’s criteria defining a self-employed person.All those applying to the Federal Self-Employed Program must intend to settle in any Canadian province or territory with the exception of Quebec, who has its own self-employed immigration program.
A self-employed person is characterized as someone possessing relevant self-employed experience in a cultural or athletic activity.
At least two years of relevant work experience in the applicant’s professional industry are required within the five years that precede their business immigration application. Professional athletes and individuals in the arts and culture industry must either provide proof of:
- Two years of being self-employed within their industry, or
- Two years of participating at a world-class level within their domain, or
- A combination of one year of each of the above.
Selection Criteria for Federal Self-Employed Program
Applicants will undergo evaluation based on a point system to more effectively assess their eligibility for a Self-Employed Visa.
Overview of Factors
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Selection Criteria
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Maximum Points
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Education
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25
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Experience
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35
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Age
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10
|
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Ability in English and/or French
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24
|
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Adaptability
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6
|
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Total
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100
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Education
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Education
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Points
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Master’s Degree or Ph.D. and at least 17 years of full-time or full-time equivalent study.
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25 points
|
|
Two or more university degrees at the bachelor’s level and at least 15 years of full-time or full-time equivalent study.
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22 points
|
|
Three-year diploma, trade certificate or apprenticeship and at least 15 years of full-time or full-time equivalent study.
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22 points
|
|
University degree of two years or more at the bachelor’s level and at least 14 years of full-time or full-time equivalent study.
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20 points
|
|
Two-year diploma, trade certificate or apprenticeship and at least 14 years of full-time or full-time equivalent study.
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20 points
|
|
One-year university degree at the bachelor’s level and at least 13 years of full-time or full-time equivalent study.
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15 points
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|
One-year diploma, trade certificate or apprenticeship and at least 13 years of full-time or full-time equivalent study.
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15 points
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|
One-year diploma, trade certificate or apprenticeship and at least 12 years of full-time or full-time equivalent study.
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12 points
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|
Completed high school.
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5 points
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Maximum
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25
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