Business Immigration to Canada
Immigrate to Canada Through Investment:
The Canadian Government encourages Entrepreneurs and Investors to set up their new businesses and to invest in existing businesses in Canada. To do that there are various programs to attain permanent residence.
Start-Up Visa
A direct permanent residency program for entrepreneurs an innovative idea and ability to create jobs for Canadians. Applicants should be able to pitch and get the support of a business incubator in Canada.
Basic Requirements:
Age: 18-54 Years
English Language Proficiency: CLB 5
No specified investment required
Applicants should have sufficient settlement funds
Get a PR in 12-36 months and a work permit prior to that to run your business in around 6 months
Owner Operator LMIA + Work Permit
This category is for foreign nationals who wish to establish or purchase a business in Canada, and want to work in that business in a high-skilled position, often with the aim of immigrating permanently. This program is ideal for foreign nationals who meet the requirements of the Federal Express Entry, but do not have enough points to receive Invitation to Apply. Those who have CRS points with at least 280 may consider this program. To qualify as an owner/operator, a foreign national must meet the basic requirements below:
- Minimum 1 year of skilled work experience as a business owner or a senior manager leading a team/ department;
- Minimum CLB 7 (IELTS 6);
- Minimum Bachelor’s degree; AND
- Minimum CRS points of 280 in the Express Entry pool.
Other Requirements:
- A business plan that shows at least over 50% ownership in the business and how the owner/operator will fund the business and create or maintain employment and contains at least a rudimentary financial plan and timeline of events;
- A proposal to employ at least one Canadian citizen or permanent resident (a minimum of 3 including a middle manager for senior managerial position – NOC 00).
CRS points (Federal Express Entry) awarded for job offers (including those based on Owner/Operator LMIAs) – 200 points for senior managerial positions (NOC 00__) and 50 points for all other O, A, B positions
Benefits:
- Spouse receives open work permit
- Dependent children receive free education up till high school
- Medical insurance coverage
- Propose business anywhere in Canada with no minimum capital investment required
- Fast entry to Canada
- Fast Processing (LMIA approval within 3-6 months and PR processing within 6 months)
Entrepreneur Visas (Provincial)
Provincial Entrepreneur visas are for people who have good knowledge and experience in their business and are looking for opportunities to invest in the Canadian market to grow the economy and create jobs. These individuals get a work permit on the basis of their investments, and gradually, they can apply for Permanent Residency in Canada over a period of approximately 2 years.
Every Province has the same basic requirements with some exceptions and factors on which applicants can score points are:
- Age
- Net Worth
- Investment
- Business Experience
- Language
- Education
- Adaptability
The applicant must have 33.3% of minimum share-holding in Business and a minimum 3 years of work experience as an owner or 5 years as a senior manager position.
All the Investments or Net Worth shown should be verifiable. A Business Plan is required and is an integral part of the application. A business research visit allows the applicant to conduct extensive research on their future business investment or proposal. The Business Research Visit must be conducted no more than one year prior to the submission of your EOI.
The net worth requirement may vary depending on the province and can range from CAD $400,000 to $800,000. The required investment to be made in your business may also vary based on the province and ranges from CAD $150,000 to $600,000. Most provinces require an English Language exam (IELTS) score of at least CLB 3 to 5.