When you plan to start a business, Canada is one of the countries you could consider. Apart from a skilled labour force, the country has many resources and a stable government.
In case you wish to immigrate to Canada as a business owner, then you would come across many options. These options would help you get an Entrepreneur or Investor Visa. Moreover, you could also get through the Start-Visa program, and the Provincial Nominee Program provided that you meet the criteria.
Once you qualify as a principal applicant, you can enter Canada along with your family.
Beyond everything else, the country is always looking for people who are already managing a business. But, whether you plan to run or take over a business, you need to contribute towards economic development.
About the Start-up Visa Program
The Start-up Visa program is nothing but a general option that supports you to immigrate to Canada. But, when you aspire to run a business, you need to meet a certain set of criteria. While you present a business plan, you should actually come up with something different. You should not only be able to beat the competition but also offer opportunities to people staying in Canada.
While you need to wait for the approval for a business or Investor Visa, you may apply for a temporary work permit. This may help you get a job in one of the organizations established in Canada.
Criteria to be met for the Start-up Visa Program
Once a businessman is interested in moving ahead with you, you need to meet some requirements.
- Under the business requirements, you along with 5 other individuals, can apply to be an entrepreneur. Having said that, you should hold 50 per cent of the voting rights. Such kind of rights should be associated with the outstanding shares of the company.
- Once you’re a permanent resident, you need to actively manage the entire business from Canada. While the business has to be established in the country, you should be responsible for dealing with its operations.
- Later, you need to obtain a letter of support from the company. You may also ask for a letter from a business group that’s approved to invest in the start-up. At this stage, you need to get in touch with the designated organization and check how you can avail support.
As you have a business idea, you need to convince the organization and speak that the business is worth supporting. , can increase the chances of getting a business or an Investor Visa.
You may either present a business plan or meet the entrepreneur personally to elaborate on the business concept.
Once the organization agrees to support the business, you would then get a letter of support. Later, the firm would send across a commitment certificate to the government. The officials would then consider both the documents and assess your application.
You must get a letter of support from Venture Capital Firms, Business Incubators or Angel Investor Groups. While Venture Capital firms would be ready to invest up to $200,000, Angel Investor Groups can support you with up to $75,000.
It should be noted that the officials wouldn’t proceed further with your application if you don’t have a letter of support.
- Next, you need to score minimum points in the language proficiency tests even when you’re applying for an Investor Visa. As you present the results for the communication skills, you have to meet at least 5 as the Canadian Language Benchmark (CLB) in French or English.
If you’re not sure about the CLB, then you can check the level through sites online.
- In the end, you need to submit a proof of funds. This would show that you are capable of supporting your family in Canada. It’s necessary to present this document as the Canadian Government doesn’t offer financial support for start-up visa immigrants.
Depending on the number of family members, the funds vary from $12,669 to $33,528. But, this amount is not fixed as it is updated year after year.
About Investor Visa and Provincial Nominee Program Entrepreneur options
The Provincial Nominee Program (PNP) easily helps you to get ITAs for permanent residence. The invitation would only be sent if you possess the right kind of skills and have work experience.
Most of the programs have at least one Investor Visa or entrepreneur category. This category is meant for people who wish to start a business in the country.
With regards to starting a business, you could consider Alberta, British Columbia, Manitoba, and Nova Scotia as the provinces.
Besides, you may also try establishing a business in New Brunswick, Northwest Territories, Yukon, Ontario, Prince Edward Island, and Newfoundland and Labrador as well as Saskatchewan.
Streams for Alberta Investor Visa
When you consider Alberta, you can make an investment in farmlands after getting an Investor Visa. Since Alberta is the second largest region suitable for agriculture, you can carry out many businesses apart from cultivating crops and raising livestock.
Criteria to be met for the Alberta Self Employed Farmer Stream
- When you wish to manage a farm, you should already be running a farming business. In that case, you need to present financial documentation to the officials. You also have to present documents stating the work experience and training programs you might have attended before. Apart from the business idea, you should prove that a financial institution in Canada is ready to invest in the business.
- Under the financial requirements, you must be capable of investing at least $500,000 Canadian Dollars at the onset.
- Finally, you should lay down a business plan in detail that can meet the agri-food targets. In case you aren’t clear with the business plan, then the officials may not consider the application.
Streams for British Columbia
British Columbia is the most suitable province if you which to expand your business. The capital of the province, Vancouver offers routes to trade with nearby countries along with USA, Mexico and Asia.
It’s certainly inexpensive to start a business due to the support of the government. There are greater chances of getting skilled individuals in British Columbia due to more than 24 million professionals.
Presently, the province offers two options for Investor Visa. These are nothing but the Regional Pilot Program and the Entrepreneur Immigration Stream.
Criteria to be met for the Entrepreneur Immigration Stream
- When you have made up your mind to start a business in the province, you should have a net worth of at least $600,000 Canadian Dollars.
- Later, you should present documents to prove entrepreneurial experience. You may also submit documents to show that you have been a part of a management team of a company.
- Above all, you need to meet legal requirements for business or Investor Visa when you plan to immigrate to Canada.
- You must be willing to start a new business or show interest in enhancing a business that already exists in the province.
- With regards to investment, you should be capable of investing $200,000 Canadian Dollars.
- Once you start the business, you should offer at least one job opportunity for people staying in Canada. The person could either be a permanent resident or a Canadian citizen.
Criteria to be met for the Regional Pilot Program
For the Regional Pilot Stream, the criteria are somewhat similar to the ones for the Immigration Stream.
- While you start a business, you should settle with a community that comprises less than 75,000 people.
- To more about the culture and the community, you should have explored the region in which you wish to settle. You need to make a visit well in advance before you submit your application for an Investor Visa.
- Apart from 51 per cent ownership, your net worth should be $300,000 Canadian Dollars or more.
- Once you pace ahead with a business, you should at least offer a full-time job for an individual.
Streams for Manitoba Investor Visa
When you are thinking about Manitoba, you will come across a safe environment and friendly towns. The capital of the province, Winnipeg is known for its economy, career opportunities and the cost of living, you would be able to afford.
Interestingly, you would observe the cost of living to be low because 76 per cent of immigrants has settled in Manitoba way earlier. This is main reason why 95 per cent people settle in Manitoba as they enter Canada.
With Manitoba, you could consider two pathways for Investor Visa. These are Farm Investor Pathway and Entrepreneur Pathway.
Criteria to be met for Manitoba Entrepreneur Stream
- When you plan to establish a business, you should have worked as a business owner for at least three years. On the other hand, your application may be considered if you have worked as a Senior Manager with a company. However, if you’re managing a business, then there are greater chances to get through as you earn more points. In that case, you must own at least one-third of an existing business.
- As you apply for the visa, the officials would also check the language proficiency test results. You, as a principal applicant, should at least score 5 as the Canadian Language Benchmark.
- In the end, you should have a personal net worth equal to $500,000 CAD. Soon after the officials approve the application, you need to sign a Business Performance Agreement.
Requirements for Manitoba Farm Investor Stream
- When the officials consider the farming experience, you should show documents with at least three years of experience.
- While a CBL is not set for the stream; you need to communicate well in French or English.
- You must show proof of funds to assure the officials that you can invest at least $300,000 CAD. Moving ahead, you can present a farm business plan along with your application.
- Before starting the business, you should carry out a research to know where you can settle down.
- Under the other requirements, you need to stay at the farm and be able to look after the farm properly.
- Besides value-added farm business activities, you should be able to conduct activities in the rural regions time and again.
- While you adapt to the culture, you should show your farming skills, and employ best practices for farming.
- In the end, you should have a minimum of $500,000 CAD as the net worth.
Streams for New Brunswick Investor Visa
Speaking about New Brunswick, the province is a beautiful place to settle in due to beaches and green landscapes. Even when the province experiences the highest tides, the province offers many business opportunities.
Once you start living, you would come across well-educated people and observe high productivity. With a low operating cost, you can always expect to expand your business in a better way. Moreover, it’s safe to run a business in the province as the capital city, Fredericton is known for the ‘Best Start-up Community Award’ in the year 2016.
Regarding the options, you may go for the Post-Graduate Entrepreneurial Stream or the Entrepreneurial Stream.
Requirements for the Post-Graduate Entrepreneurial Stream
- To qualify for the stream, your age should be at least 20 years and not more than 40 years.
- You should have earned a score in the language proficiency tests that are equivalent to 7 as the CBL.
- You should have obtained a degree for a three years program or a diploma of two years. This qualification should be attained from a famous institution in New Brunswick.
- While you are pursuing your degree, you should have stayed in the province.
- You should have managed a business on your own in the province for at least a year.
- While you should have a valid work permit, you should be ready to settle in New Brunswick.
Streams for Nova Scotia Investor Visa
If you wish to strike a fine work-life balance, then you could think about starting your business in Nova Scotia. While the province has many resources in abundance, you could set up a business related to fishing, forestry, agriculture or natural gas extraction.
Currently, there are two options available with Nova Scotia. These are nothing but ‘Nova Scotia Entrepreneur’ and “Nova Scotia International Graduate’.
Requirements for the Nova Scotia Entrepreneur Stream
- If you aspire to run a business in Nova Scotia, then you should at least be 21 years old.
- While you manage the business, you should be willing to settle in the province.
- You need to show documents with $600,000 CAD as the net worth and express interest in investing $150,000 CAD to the business you want to run.
- You should either be working for three years as a businessman or five years with a management team of a firm.
- Finally, you need to score 5 as minimum CBL level for a test meant for language proficiency in French or English.
- You should have filled every detail in your profile and must have got an ITA.
Requirements for the Nova Scotia International Graduate Stream
- While you manage the business, you should be intended to stay in the province permanently.
- You should have managed a business on your own for at least a year’s time.
- Apart from the qualifications stated in the Entrepreneur Stream, you must have earned a score of 7 or more in language proficiency tests. This is nothing but the CBL level set for the International Graduate Stream.
- As usual, you should have a valid work permit, and a valid online Expression of Interest profile. Besides, you must have got an ITA from the Express Entry draw.
Streams for Northwest Territories Investor Visa
With regards to the Northwest Territories, these are known for a place where you can find diamonds. Apart from being known for nature’s beauty, the territories are best for starting a business.
You are sure to perceive success in the long run if you wish to start a business related to the Manufacturing, Fishery or Agricultural sector.
As the government has recognized the importance of business, you can always be a part of many incentive programs. Moreover, you can seek many professionals who are well-educated and highly qualified.
Talking about this particular province, you need to meet the criteria for the Business Stream.
Requirements for the Northwest Territories Business Stream
When it comes to investing in a business, you need to have funds as much as $300,000 CAD. This applies only when you wish to run or take over a business within Yellowknife. In case you wish to establish your venture outside the corporate boundaries of Yellowknife, then you need to show proof of funds with $150,000 CAD in your account.
- With respect to net worth, it should be equivalent to $500,000 or more. This norm is applicable only when you wish to run a business in regions across Yellowknife. However, you should have at least $250,000 CAD as net worth to start a business outside Yellowknife. Moreover, you need to deposit $75,000 CAD to the Department of Industry, Tourism and Investment. You need to take this step only when the officials approve your profile.
- On the personal front, you should at least hold one-third of an existing business. If the owner is less than one-third, then you should have invested a minimum of $1,000,000 CAD in a business.
- For the language proficiency tests, you should have earned a score equivalent to 5 as the CBL level.
- Moving ahead, you should have understood the economy well. This would give a clear idea of how the business can add on to the growth of a particular territory.
- Before completing the profile, you should have visited the territory at least once. You should also have carried out a research to know more about the business environment.
- While you express interest in settling in the territory, you should have the relevant work experience and qualifications. This would show that you are capable of taking the business plan way ahead.
Streams for Newfoundland and Labrador Investor Visa
If you wish to start off with a small scale business, then there’s nothing as perfect as Newfoundland and Labrador. In fact, over the years, 40 per cent of the population have got jobs at different kinds of companies.
With the development of IT industries, this province offers you many opportunities to grow a business. Since Newfoundland and Labrador is a leader in supplying food, the future is bright for starting something different in the agricultural sector.
At present, you can apply to streams, namely, the International Graduate Entrepreneur streams and the International Entrepreneurs stream.
Criteria for the International Entrepreneurs stream
- If you dream about being an entrepreneur in the province, then your age should be between 21 and 59 years.
- While you have a business plan, you should be carrying out the operational activities from a location in the province.
- You should be able to present documents with a net worth of a minimum of $600,000 CAD.
- In order to acquire one-third of a business, you should be ready to invest $200,000 CAD or more.
- As you take time to establish a business, you should be open to hiring at least one Canadian citizen or a permanent residence.
- You should be able to convince the officials that you would be running a profitable business in future. You should either offer services to people or sell goods for earning a profit.
- As usual, you should have at least an experience of two years running a business. If that’s not the case, then you should have worked as a Senior Manager for a minimum period of five years.
- In the end, you should score well in the language proficiency tests. Your score should be equal to 5 as the CBL level for the stream.
- Under the business requirements, you should comply with the legal standards. The business should be a permanent establishment which the Canadian Income Tax Regulations has defined.
- Lastly, you should confirm that you would be adding on to the overall development and economic growth of the province.
- As you offer at least one job to a Canadian citizen, the position should be related to the business. You should also be ready to offer a salary as per the wage standards set for the community.
- Apart from everything else, you need to take over a business which has been running steadily for the past five years. Moreover, you should visit the province to get an idea of the current business owners.
- While you offer jobs, you should meet the employment conditions and show that you have added to the market value.
- If you intend to partner with a business owner, then you should be one among 10 applicants. But, as an individual, you should be ready to invest at least $200,000 CAD. You should also own one-third share of the company.
- In case you don’t opt for partnership, then you should be able to invest $1,000,000 CAD or more.
Criteria for the International Graduate Entrepreneurs stream
- For the International Graduate Entrepreneurs stream, your age should not be less than 21 years.
- As you submit a business plan, you should have completed your studies after a two-year course from the Memorial University or College. This educational institute is situated in North Atlantic.
- While running a local business, you should wish to live in the province permanently. You should also aim at adding on to the economic development for the community.
- Before applying for the Investor Visa, you should be actively involved in managing a business for at least a year.
- While you prove language proficiency through tests, you should show your business would generate profit. You have to convince the officer that you would be selling products or offering services for earning a profit.
- With regards to the language tests, you need to score at least 7 as the CBL level in English or French.
- With the business plan in detail, you should set a career objective. Your aim for starting a business should not just be the sake of immigrating to the country. In fact, it should be a permanent establishment as per the standards of the Canadian Income Tax Regulations.
- Just in case you wish to go for partnership, then you should be one among 3 individuals. If you’re applying for permanent residence, then you should own one-third of the company’s share.
- Eventually, when you hire someone for a job, you should comply with the wage standards. The position should include responsibilities relevant to the business. In case you plan to take over a business, then you should visit the province and get in touch with the business owners. While you take over a business that’s active, you must offer fair market value.
Streams for Ontario Investor Visa
In case you are looking for a skilled labour force for your business, then you should think about Ontario. While the province is most populated, many people have completed their post-secondary education.
In Ontario, you would have to pay less for the operational costs. Moreover, you may also have to pay less for the taxes along with the expenses for housing.
In case you wish to be a permanent residence, then you can either take over or start a business through two options. These are the Ontario Entrepreneur Stream and the Ontario Corporate Stream.
Requirements for the Ontario Corporate Stream
- If you are an applicant for this stream, then you should be running a business for a minimum of three years. Besides, you should be managing a business on your own or with the support of someone else.
- Moving forward, you must be willing to invest $5 million CAD in expanding the business.
- While you move on, you need to offer at least 5 job opportunities for Canadian citizens. You also be ready to pay as per the wage standards and the job profile.
- While you need to comply with the legal standards, you should aim at earning profits through sales of goods or offering services.
- The new business you plan to start should be a subsidiary or a branch of an existing company.
- With five people under you, every person should have worked with a management team earlier. As a working professional, the person should have at least three years of work experience.
- It’s important to note that your family member should not own 10 per cent equity in the company you intend to join hands with.
Requirements for the Ontario Entrepreneur Stream
- To qualify for the Ontario Entrepreneur Stream, you should have worked as a business owner for a minimum of three years. However, you should be playing an active role while running the business.
- If you propose to start a business in Greater Toronto Area, then your net worth should be $1,500,000 CAD or more. In case you choose any other region in the province, then the personal net worth should be a minimum $800,000 CAD. But, if you wish to start a business in the IT sector, then the location doesn’t matter. Your net worth should be equal to $800,000 CAD or more.
- Under the requirements for investment, you should be capable of investing at least $1,000,000 CAD. This norm is applicable to when you plan to start off with a business in Greater Toronto. But, for any other place in the province, you should be ready to invest at least $500,000 CAD. For a company in the IT sector, you should be willing to invest $500,000 CAD or more. With this norm in mind, the location doesn’t really matter for starting the business.
- As you pace ahead with the business, you should be actively involved with its operations. You also need to meet the legal standards of Ontario as well as Canada. Within a time span of 20 months, you should be ready to offer at least two job opportunities. You have to hire people who are Canadian citizens or permanent residents.
- If you wish to take over an existing business, then you need to visit the province within a year’s time. The business visit should be made once you submit the expression of interest. Moreover, you can take over a business only when it has been active for at least five years.
- While you take charge of the business, you should be ready to invest for expanding the business. You also need to work with the existing employees who are still working.
Streams for Prince Edward Island Investor Visa
Even when Prince Edward Island (PEI) is a small province, there are many options for business and economic growth. The overall development is due to immigrants who are business owners and investors.
You can always seek support from the government through the Ignition Fund program. This would actually help you start a business easily. Setting up a business in PEI is sure to be the best option due to many resources.
For getting a business visa, you need to apply for the Prince Edward Island Work Permit Stream.
Requirements for the Prince Edward Island Work Permit Stream
- With the business plan in detail, you need to have a net worth as much as $600,000 CAD.
- With regards to education, you should have completed your high school studies. You may also present certificates equivalent to secondary school courses.
- Your age should be more than 21 years and less than 59 years.
- For the work permit stream, you need to prove language proficiency in English or French. You need to earn a score which is equivalent to 4 as the CBL level.
- While you take an interest in the day to day activities, you should be ready to settle in the province permanently.
Streams for Saskatchewan Investor Visa
With the infrastructure for transport set in Saskatchewan, you could think about a business in the province under the manufacturing and distribution segment.
You can expect a low operating cost in Saskatchewan. This is because of the lowest tax and many resources available for agriculture, forestry, mining and the energy sector.
For business success, you can always think about hiring young workers. This is very much different than other provinces where you can find an ageing workforce.
As you apply for the Investor Visa, there are three streams for the province. These are the Entrepreneur Category, the Farm Owner and Operator Category and the Young Farmer Stream.
Requirements for the Entrepreneur Category
- To qualify for the stream, you should at least have $500,000 CAD as the net worth.
- Since the past 10 years, you should be running a business for a minimum time span of three years.
- In case you choose Regina or Saskatoon as the business location, then you should be ready to invest $300,000 CAD. But, if you plan to start a business in another city or region, then you need to invest at least $200,000 CAD.
- With regards to the business plan, you should have one-third ownership and should invest a minimum of $1,000,000 CAD. You should be dedicated to playing an active role in managing the entire business.
- As time passes by, you should be ready to offer at least two job opportunities. You should be ready to hire Canadian citizens or permanent residents. This norm is applicable only when you want to set up a business in Regina or Saskatoon.
Requirements for the Farm Owner and Operator Category
- To qualify for this particular category, your net worth must be equal to a minimum of $500,000 CAD.
- While you set aside your plans, you should be ready to sign a performance agreement. This would represent that you would be actively involved in managing the farm in the province.
- Before applying for the business visa, you should visit the province to explore the regions. You visit Saskatchewan should be for five working days.
- In case you wish to move on with commercial farming, then you have to present a proposal.
- Once you have a business idea, you need to submit documents related to the experience and farm operation knowledge.
Requirements for the Young Farmer Stream
- If you want officials to consider your profile for the business or Investor Visa, then the net worth should at least be $300,000 CAD.
- Your age, as an applicant, should be less than 40 years.
- Apart from farming experience, you should at least three years of experience in managing a farm.
- Besides the income earned through farming, you or your spouse should be working at a certain location.
- In case you opt for commercial farming, then you need to submit a business proposal.
Streams for Yukon Investor Visa
Apart from being known for beautiful landscapes, Yukon is the perfect place to start a business.
While you can use plenty of resources, you can also expect business innovation. As for the primary business sectors, the province is known for forestry, mining, tourism, oil and gas sector as well as film making.
With well-educated and a skilled workforce, you can always seek to develop your business in future.
When you wish to apply for the Investor Visa, you need to qualify for the Yukon Business Nominee Stream.
Requirements for the Yukon Business Nominee Stream
- On the personal front, you need to earn a minimum score of 65. These are nothing but points presented in the assessment grid.
- While you must be a graduate, you should be working as a businessman or a Business Manager for three years or more.
- You should not have any pending applications for the PNP or territory nominee program.
- As you dream of establishing a business, you must have a net worth as much as $500,000 CAD. Moreover, you should present documents with liquid assets worth $300,000 CAD or more.
- Once you set up a business, you should be willing to settle in the province.
- For the business or Investor Visa, your work profile should match to the ones under the NOC level, 0 or A.
- If you wish to invest in a business, then you should be ready to offer funds worth $300,000 CAD.
- Under the business requirements, you should manage the business on your own. Your profile may also be accepted if you take over a company that is already active.
- Finally, your business should be related to the IT, manufacturing, forestry, energy sector, tourism sector or agricultural sector. Besides, you can start off with a business if it’s related to value-added processing, mining or film production.
About the Immigrant Investor Program
The Federal Immigrant Investor Program has been inactive since June 19, 2014. The Federal Government has stopped accepting applications a long time back. The applications in the pool have also been terminated from the year 2014.
Basic Criteria to meet as an Investor
- The first criterion for getting an Investor Visa is that you should have a minimum net worth as much as $1.6 million CAD.
- You need to be working with a management team of a company for many years. Besides, you should be ready to make a government-secured investment of $800,000 CAD or more.
If you are not capable of investing, then you can seek help from a financial institution in Canada.
Under the Federal program, you and your family members can be permanent residences. At that instance, you need to invest $800,000 for a minimum period of five years.
Since the government supports the program, the amount would be credited back after 5 years. The above norms for an investor are only applicable if you wish to settle anywhere in Canada, except Quebec.
To conclude, if you wish to check the eligibility for any of the streams, you can check it online. Once you fill up every single detail, you would know more about the programs you’re eligible for.
Contact the team of ‘The Immigration Consultants’ today if you wish to apply for an Investor Visa. You can also get in touch with our consultants to know about visa options as per your profile.
For hassle free submission of documents, you can approach our account managers and immigration consultants as well. We would be more than happy to help you out when you wish to become a permanent resident of Canada.