Canada always cherishes the contribution of the immigrants, especially talents come through the Canada business immigration programs. If you have experience in doing business or have an innovative idea then you should check these programs out for your pathway to earn PR visas in Canada.
About the Canada business immigration program
The Canada business immigration programs have been established pathways for immigrants who can prove their capability to do business with excellent skills, experience, and funds. To the economy of Canada, business immigrants are driven key to future growth. They help to create jobs opportunities for the locals, transfer their expert knowledge in the field as well as promoting new innovation. Besides from attractive business environment, foreign businesspeople can enjoy the world-class facilities and beneficial social regulations in Canada with their family.
Visa programs for business immigration
There are many options for business immigration in Canada. Here is a summary of the federal and provincial nominee programs (PNP) for your consideration.
Economic immigration programs of the federal government
The federal government has two main programs for the business category. The former Investor program was closed since 2014 and no longer accepting applications.
The program allows people who have at least 2 years of experience in cultural or athletics activities to become a Canada permanent resident as a self-employed person. This is a point-selecting program so the candidate must have at least 35/100 points based on the program’s point system. Other selection criteria are experience, education, age, language abilities, and adaptability. The cost of applying will be from $1540 CAD (without other third parties fee) and usually will be processed in 21 months. Notice for the applicant who wants to apply under farm management stream of this program that the IRCC no longer accept new application since March 10, 2018.
Foreign entrepreneurs are welcome to live in Canada if they can prove to have an innovative business idea, create jobs for Canadians and improve market competitiveness. You will be assessed on various criteria, but briefly, you must have a qualifying business, have a letter of support from a designated organization, meat language requirements and have a sufficient amount of money to establish business along with settle life. The application cost will be from $1540 CAD (without other third parties fee) and the processing time usually will be in 12 to 16 months.
Provincial nominee program (PNP)
Quebéc is a strategic location for business people and investors in North America. The government of Quebec has 3 business immigration programs, these are the main criteria in each program:
- Entrepreneur Program:
- Stream 1: Open a business in which you have to receive an offer from a business accelerator, incubator or a university entrepreneurship center.
- Stream 2: Make a startup deposit of $200,000 CAD ($300,000 CAD if inside the Montréal metropolitan area), personal net worth at least $900,000 CAD and other requirements for your business
- Investor Program: at least $2,000,000 CAD of personal net worth and invest a minimum of $1,200,000 CAD. The candidate must have 2 years of business management experience.
- Self-Employed Worker Program: At least 2 years of experience, the net asset of $100,000 CAD and make a startup deposit of $25,000 CAD ($50,000 CAD if inside the Montréal metropolitan area)
The candidate in each program needs to receive a CSQ to prove that the government of Quebec selects them before applying for permanent residency.
The British Columbia Provincial Nominee Program (BC PNP) is one of the most attractive programs to worldwide immigrants.
- Entrepreneur Immigration – Regional Pilot (EI Regional Pilot): target talented business minds who willing to establish a new business in the regional communities. The entrepreneur must meet the personal requirements of the category and receive support from the participated communities. The business should also need to be aligned with the communities priority industries
- Entrepreneur Immigration – Base category program: You can invest and manage a valid business in the province for immigrating to British Columbia. Besides personal criteria, the program requires you to have a personal net worth of at least $600,000 CAD and invest at least $200,000 CAD in the business. The fee includes $300 of the registration fee, $3,500 of the application fee and $1,000 for each key staff application.
In the Alberta Immigrant Nominee Program (AINP), there is a category for business immigration is the Self-Employed Farmer Stream. The requirements include you must have at least $500,000 CAD personal net worth, an equivalent amount for a minimum investment in a farming business. Previous experience in the field would be a key assessment criterion for the candidate.
To welcome more business people in the province, the Saskatchewan Immigrant Nominee Program (SINP) has two categories are:
- Entrepreneur Category: the category allows the candidate to buy an established business or start a new business in Saskatchewan. The eligibilities of this category include personal requirements, a minimum net worth of $500,000 CAD and meet the minimum investment requirement for the business
- Farm Category: encourage investors to buy and run a farm in Saskatchewan. You have to prove personal requirements such as experience, education and have at least a net worth of $500,000 CAD.
The Business Investor Stream (BIS) of the Manitoba government will nominate qualified business investors and entrepreneurs around the globe. There are 2 pathways
- Entrepreneur Pathway: for those want to open a business in Manitoba. Invest at least $150,000 CAD ($250,000 CAD for the Manitoba capital region) in a business. Have a personal net worth of $500,000 and other personal requirements.
- Farm Investor Pathway: focus on farming operations in the rural area of Manitoba. The candidates are expected to have a personal net worth of $500,000 CAD and meet other criteria. Invest at least $300,000 CAD in a farming business.
In Ontario, the Ontario Immigrant Nominee Program (OINP) has only one Entrepreneur Stream for business immigrants. The applicant is expecting to have a minimum net worth of $400,000 CDN ($800,000 CDN if your proposed business in the Greater Toronto Area). You must also invest at least $200,000 CDN in business ($600,000 of investment for business in the Greater Toronto Area). If your business is in the ICT sector then regardless of the location, the minimum investment is $200,000 CDN.
Business immigrants should not miss the chance through New Brunswick Entrepreneurial Stream and the NBPNP – Post Graduate Entrepreneurial Stream.
- New Brunswick Entrepreneurial Stream: the candidate must meet the personal and business requirements whether purchase an existed one or open a new one. Invest at least $250,000 CAD in the business and score at least 65/100 points in the program’s point table.
- NBPNP – Post Graduate Entrepreneurial Stream: developed for the foreign graduates from a recognized university in New Brunswick (NB) or the NB Community College. The candidate must have 100% ownership in a business and managing that business for at least 1 full year.
The business immigration stream of Prince Edward Island is called the Work Permit Stream. Candidate can buy an existing business or start a new one with no requirement in investment. However, you must have a personal net worth of at least $600,000 CAD and in the age range 21 – 59 years of age at the time you apply as well as other individual criteria.
Business Immigration Program in the Northwest Territories has only one Business Stream. The requirement for investment is $150,000 CAD to start or buy a business ($300,000 for the business located inside Yellowknife). The candidate needs to have at least $250,000 CAD net worth ($500,000 for business inside Yellowknife) as well as meet other personal criteria.
10. Nova Scotia
The Nova Scotia Nominee Program (NSNP) has two streams for business immigration.
- NSNP – Entrepreneur Stream: the candidate can buy an existing business or start a new one in the province. In addition to personal requirements, the applicant must have a minimum net worth of $600,000 and invest at least $150,000 CAD in the business
- NSNP – International Graduate Entrepreneur Stream: for recent graduates of a Nova Scotia university or the Nova Scotia Community College. They must have already started or bought a Nova Scotia business and operated it for at least a year
Foreign entrepreneurs can immigrate to the province through its Provincial Nominee Program – NLPNP with two categories
- International Entrepreneur category: The candidate must have at least $600,000 CAD of net business and personal assets that can be ready to transfer to Canada. The minimum investment is $200,000 for a business with at least 33,3% ownership or $1 million in equity investment. There will be two separate streams in the category called Starting a New Business stream and Purchasing an Existing Business. Each stream has its own additional criteria that the candidate must pay attention to.
- International Graduate Entrepreneur category: For foreigners who have a degree or diploma after at least two academic years of full-time, in-person study at Memorial University or College of the North Atlantic. Besides the personal requirements of the category, just like the International Entrepreneur category, there will be two streams with its own requirements.
Foreign business owners and entrepreneurs can apply to run their business in Yukon via the Business Nominee Program. You need to score at least 65 points on the assessment grid. The personal net worth must be from $500,000 CAD. Additionally, you need to have a minimum of $300,000 in liquid assets. The required investment is $300,000 CAD for the business in the first 2 years. Your proposed business must meet the criteria from the province as well.
Before you apply
You should think carefully about which province will you choose and what Canada business immigration programs are the most suitable for you. The requirements will differ between each program and are subject to change so you should make sure you research the up-to-date information. You can seek assistance from a reliable immigration lawyer throughout the process.Canada business immigrationcanada immigrationFinding A Job In Canada As An Immigranthow to immigrate to Canadaimmigration to Canadajob opportunities in Canadajobs in Canadajobs in Canada for foreignersRegulated Jobs in Canada