Canada is a welcoming country, and there are numerous ways to immigrate and make it your new home. One opportunity is for those who are financially able to contribute to their own and the country’s economic stability through self-employment, entrepreneurship and investment.
There are two federal business immigration programs: Self-employed Persons and the Start-up Visa Program. Each province and territory have its business immigration programs, which are as per the requirements of the region and industries.
Federal Self-Employed Persons
In order to immigrate to Canada as a self-employed person, you must have at least two years of relevant experience (find the definition for relevant experience here) in the arts (cultural activities) or athletics and show your desire to be self-employed in Canada. The two years of experience can be consecutive, or two one-year periods over the five years before the date of your business immigration application. Your immigration consultant can help you understand how to show proof of your plan to be self-employed.
Additionally, you must achieve a minimum of 35 points on a 100-point scale that includes education, experience, age, ability in English and/or French and adaptability.
Cultural activities can be somewhat hard to understand, but the Government of Canada defines it as those in occupations like authors and writers, creative and performing artists, painters and other visual artists as well as technical support in motion pictures, creative designers and others.
Federal Start-up Visa Program
Start-Up Visa is another business immigration program that focuses on entrepreneurs who can build a business in Canada that creates Canadian jobs, competes on a global scale and brings an innovative idea to the marketplace.
To be eligible, immigration applicant(s) jointly hold more than 50% of the voting rights, with each applicant holding 10% or more of those rights. You’ll also need a letter of support from a designated organization supporting your business through venture capital funds, angel investor groups or business incubators. There are several organizations able to help, so visit the Canadian government’s list of eligible organizations to find out more.
The business must be incorporated and managed by you within Canada once you receive your permanent residence, and an essential portion of business operations must occur in the country.
Plus, you’ll need to meet language requirements and have enough money to settle in the country.
For both of these federal programs, it is advisable to work with a licenced immigration consultant to help you with the process as the application package is quite complicated and requires several elements to be eligible. Talking to an immigration consultant is a great way to start your business immigration process to determine which programs are the right fit and learn what things you need to do.
Provincial Business Immigration Programs
Each province and territory has its own programs for business immigration and each works differently from the others. The basic process followed by a majority of the provinces for business immigration includes an expression of interest followed by invitation to apply (ITA) based on the points scored by the applicant. Once the applicant is found eligible as per the program requirements, a work permit is granted to establish or buy the business. For provincial nomination, the applicant is required to operate the business as committed in the business plan, which is an integral part of the application to obtain a nomination from the province.
For example, Saskatchewan has an Entrepreneur stream, which is a three-stage process where potential immigrants submit an expression of interest. Then, they may receive an invitation to apply and then if selected, and they receive a nomination from the province’s immigration program.
At this point, candidates come to Canada on a temporary work permit to establish their business. After six months, they can apply for nomination through the Canadian Federal Government.
To be eligible, applicants must have a net worth of $500,000, a minimum of three years of eligible experience and an investment in Regina, Saskatchewan of at least $300,000 or $200,000 in other parts of the province. The application must also include the business establishment plan outlining financial information, commitment to the active management of the business and creation of two or more jobs.
This provincial program – like all provincial and territorial programs – uses a points-scoring method based on a range of factors about the applicant. The provincial programs select those individuals from the application pool that have the highest score.
Working with an Immigration Consultant to understand your options
with each provincial and territorial program being different, it’s essential to work with someone who understands the possibilities. An experienced immigration consultant can help make your dreams come to Canada a reality because they can help you understand your choices and navigate the process.
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