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Subject: Entrepreneur |
I need to show can dollars 300,000 to go to canada as Entrepreneur .Do You think they will check if I am really carring that amount on arrival. or its its ok just to show that amount until i get visa.
ALL PLEASE HELP
[02-02-2005,13:24] Anonymous |
(in reply to: Entrepreneur) you need to show the money -I doubt that it needs to be in your pocket the day you arrive, but do not fool yourself, CIC makes sure you do exactly what you said you would do in your business plan and that you have the money to do it.
[02-02-2005,13:35] sharon |
(in reply to: Entrepreneur) Be very very careful how you play this one. I am also moving to Canada as an independent investor. In my case, I am still hunting for provincial programs to finance. Of course the Canadian Govt will handle the actual investment scheme on my behalf and give me supervisory control at an appropriate time. I picked this program versus entrepreneur for a good reason: in this scheme I will let the money do the work and myself will simply relax or do business or even seek a regular job, all as I wish. Immigration WILL check upon you once you arrive as entrepreneur and INTERMITTANTLY you MUST show your business activity and MUST prove HOW MANY native born Canadians you hired and EXCATLY IN WHAT CAPACITY and with WHAT PAYSCALES. However, US is much more lenient in this respect. In the US, you can very easily dupe the system since they have no strict definitions about the type and nature of work the citizens perform working under an Immigrant. For this reason, there are many Chinese and Indians who are very successful in maneuvering the American system and gain citizenship. In Canada, it is much more strict and rigorous. If you PRETEND to have money but do not ACTUALLY HAVE any, you risk imprisonment for immigration fraud and certain deportation. Entrepreneurs are put under DIRECT CIC supervision for a minimum of TWO years. If you have no access to the money you showed to CIC once you are in Canada, you will end up in detention within 6 months after arrival. MY ADVICE: this is not a worthwhile risk.
[02-02-2005,13:41] !@#$%^&*() |
(in reply to: Entrepreneur) Thank you for your help and advise
[02-02-2005,13:58] Anonymous |
(in reply to: Entrepreneur) CIC watches like a hawk for a reason. In BC we have a large Asian population that can come with lots of money but do not qualify any other way. In the past they would buy a restaurant (we have thousands-most of them very good) and after 1 year the restaurant is bankrupt or sold to the next business class immigrant. Or, they will invent some kind of import business... invest in a warehouse space and never turn on the lights. They would put their son in the office to look like someone works there. He was doing his homework. as Canadians we watch and scratch our heads as to how they are earning any money - well they aren´t and never were intended to.
Of course, it makes Canadians a little crazy to watch and CIC is becoming much wiser and stricter about how this all happens. As well, the businesses are watched to make sure the immigrants are not laundering money.
It is not a good idea to mess with CIC on this one. They will deport you so fast and most Canadians are more than happy to help them.
[02-02-2005,14:56] sharon |
(in reply to: Entrepreneur) Hi
Dont bleive I repeat dont bleive any of above I have a friend who browed and showed the amount required got his visa and and invested non in canada.
I have one more friend who passed the interview and going to do the same shortly with out investing a penny
[02-02-2005,16:03] Anonymous |
(in reply to: Entrepreneur) I believe you need to deposit that money in a Canadian Bank as a bond towards investing. Don´t you?
[02-02-2005,16:30] ***** |
(in reply to: Entrepreneur) Ok guys, read the CIC site about business applications again.
For Entrepreneur class they don´t ask you to have 300.000 CAD in cash ! They ask you to provide proof that your assets are worth at least 300.000 CAD.A big difference. Anyway....before applying as entrepreneur you need to have had a " qualifying business" ( again, read CIC ) ,thus they assume you have at least a fair amount of capital.
And don´t forget that the Entrepreneur Visa is conditional ! meaning, if you don´t have a "qualified Canadian business" within 3 years after landing, you don´t get the permanent residence status, i.o.w....they throw you out.
John
ps: if you don´t have the 300.000 CAD to start a business, it will be VERY hard to meet the conditions.
[02-02-2005,17:53] John |
(in reply to: Entrepreneur) I had to provide evidence through RBC and CIBC. There might be some loopholes that I am not seeing. But the way it is going in my case, I can´t see how you can really play the system. I do not however, regret investing in Canada. The int rates are not good these days and not likely to get better. I am already developing a sense of ownership of Canada. Very soon I will have a stake in her development and well being. Anon. can you tell how your friends are playing? Don´t reveal any identities but tell how they doing it. I am curious. In my case I prefered Canadian Govt on my back just so I can sleep with great ease. And make some friends in the Govt too...
[02-02-2005,17:57] !@#$%^&*() |
(in reply to: Entrepreneur) C´mon ! What anon.above wrote ( in bad english ) is just based on urban legends.
You can´t fool the system as easy as that. If Canadians think all entrepreneur immigrants are laundry washers than it´s thanks to that sort of talk.
Believe me, I´m in the entrepreneur clas, and they need a hell of a lot of proof before they grant you the visa !
I´m willing to invest my capital in a startup business in Canada , have a good business plan and the ambition to make it work and yet they let me wait for 2-3 years , probably thanks to a bunch of crooks that tried to outsmart the immigration administration.
John
[02-02-2005,18:25] John |
(in reply to: Entrepreneur) Yes My friend showed proof that they have assets worth can$300,000. which was certified and the visa was issued to him. He plans to setup small like a business and put some of his own friends as employees and and get away with it same like ther others did. I assume ti is easy.
[03-02-2005,12:03] Anonymous |