To be qualified, an applicant:
Business owner or Manager of Qualifying Business:
You must provide evidence to show that:
Either:
You have at least 2 years in previous 5-year period, owned or managed a business that meets 2 of the following requirements:
(a) Percentage of equity x # of full-time employees = at least 2 full-time employees. Example: if you own 50% of the company, then you must have at least 4 full-time employees.(0.5 x 4 =2).
(b) Percentage of equity x total annual sales = at least CAD$500,000. Example: If you own 50% of the company, then you must have CAD$1,000,000 total annual sales. (0.5 x 1,000,000 = 5,000,000).
(c) Percentage of equity x net income = at least CAD$50,000. Example: if you own 50% of the company, then you must have CAD$100,000 total net income. (0.5 x 100,000 = 50,000).
(d) Percentage of equity x net assets = at least CAD$125,000. Example: If you own 50% of the company, then you must have CAD$250,000 total net assets. (0.5 x 20,000 = 125,000).
OR
You have managed at least 5 full time employees for at least 2 years within the previous 5-year period
Net Worth CAD$1,600,000:
You must provide proof of how you obtained your Net Worth, by providing:
Investment CAD$800,000:
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