This new application is similar to the Investor Category but there is not a requirement for the applicant to have C$400,000 at his/her disposal and third party funding is permitted. Applicants must maintain at least 33% shareholding of equity capital and provide a viable business proposal for the government to assess. Approval will be initially granted for a twelve-month period that, upon completion, may be extended for a further three years. Upon completion of three years of Permanent Residence in Canada as an Entrepreneur, applicants may apply for Canadian Citizenship.