Canadian Business Immigration
Business immigration to Canada is an excellent choice as the country’s economy continues to thrive. Canada offers a high standard of living, quality education, and a diverse population, all of which provide ample opportunities for business expansion. Moreover, new businesses play a significant role in stimulating the Canadian economy. Recognizing this, the Canadian government has established various programs specifically aimed at facilitating business immigration.
These programs and permits are tailored to attract entrepreneurs, self-employed individuals, and businesspersons who are not yet Canadian citizens. Each program is designed to cater to the specific needs and objectives of different types of business immigrants in Canada. Their purpose is to create new prospects within local markets by welcoming skilled and experienced individuals who can contribute to its growth.
Canadian Business Immigration Streams
Investors have two primary avenues for investment.
The initial pathway is through a federal business immigration initiative known as the Start-up Business Class. To qualify, the investor must establish a new business venture in Canada.
The alternative option is to explore the diverse array of entrepreneurial investor and business immigration programs available in each of the ten Canadian provinces and three territories under the Provincial Nominee Program (PNP). The eligibility requirements and application processes for each PNP differ.
It should be noted that Quebec has its own distinct set of business and entrepreneurial programs, separate from those offered by the other provinces and territories
The Start-Up Business Program
The Start-Up program offers immigrant entrepreneurs the opportunity to obtain permanent residence in Canada while receiving support to establish their businesses. This program aims to encourage immigrant entrepreneurs to expand their companies within Canada. Approved applicants are connected with private sector organizations in Canada, providing them with access to funding, guidance, and expertise to successfully launch and operate their enterprises in the country.
Start-Up Program Requirements
The primary objective of this program is to attract and enlist inventive entrepreneurs from foreign nations who will not only generate new employment opportunities but also stimulate economic growth.
To qualify for a start-up permit, interested applicants must fulfill the following criteria:
- Demonstrate proficiency in either English or French, with a minimum score of CLB 5 in all language abilities.
- Possess sufficient financial resources to establish themselves in Canada.
- Intend to settle in a province other than Quebec.
- Meet the requirements of both Canadian security and medical clearances with success.
- Provide evidence that their business is endorsed by a designated organization.
- Verify that their business satisfies the ownership requirements.
Under the Start-Up Permit Program, a maximum of five foreign nationals are permitted to apply for permanent residency as part of the same business venture.
To successfully demonstrate your ability to provide for your family upon your arrival in Canada, it is essential to showcase your financial stability. Below is a table that outlines the necessary requirements.
| Family members | Funds required (CAD) |
| 1 | $ 13,213 |
| 2 | $ 16,449 |
| 3 | $ 20,222 |
| 4 | $ 24,553 |
| 5 | $ 27,847 |
| 6 | $ 31,407 |
| 7 | $ 34,967 |
| For each additional family member | $ 3,560 |
A Designated Entity
Designated entities refer to private organizations in the private sector that have obtained approval from the Canadian government to provide assistance for your entrepreneurial venture. These designated entities fall into three categories: designated angel investors, designated capital funds, and designated business incubators. In order to be eligible for acceptance into the start-up permit business program, it is necessary to secure a “commitment” of support from one of these government-approved entities.
Letter of Commitment from a Designated Entity
Under the Start-Up Program, a maximum of five foreign nationals are permitted to apply for permanent residency as part of the same business venture.
In order for your start-up permit application to be processed, it is necessary to obtain a “letter of support” from at least one of the following:
- A designated group of angel investors who confirm their commitment to invest a minimum of $75,000 in a qualifying business.
- A designated venture capital fund that confirms its intention to invest a minimum of $200,000 in a qualifying business. Additionally, two or more venture capital funds can jointly invest a minimum of $200,000 in a qualifying business.
- A designated business incubator that confirms the acceptance of your business into it’s program.
Quebec Entrepreneur Program
The Quebec Entrepreneur Program is a pathway for immigrants who are entrepreneurs and possess the skills to establish a new business or take over and manage an existing one. Individuals who successfully qualify for this program can relocate to Quebec and proceed with their business venture. Like all other immigration pathways in Quebec, this program requires applicants to apply for a Certificat de Sélection du Québec (CSQ – Quebec selection certificate). Once an applicant receives a CSQ, they become eligible to submit an official application for permanent residence in Canada.
How can we help you?
Our team of business immigration specialists is available to assist you through the often complex process of immigrating to Canada via a business stream. Our consultants, who specialize in business immigration, can help you save time, and avoid headaches as you navigate a potentially challenging process, even if you are financially successful and well-established.
Our team at EVCanada has earned recognition as one of the top Canadian immigration consulting agencies. Our expertise lies in guiding our clients through the complex and sometimes perplexing bureaucratic procedures involved in starting a fresh chapter of their lives in Canada.
