Business immigrants are individuals who can invest in or start businesses in Canada. It is one method that supports the development of the Canadian economy so that it remains strong.
Business Immigration Programs in Canada
Individuals can apply for a Canadian permanent residence when they have managerial or business experience and high net worth. The Canada Business Immigration Program is divided into four sub-categories:
- Self-Employed Persons
- Province Nominee Program (PNP) Business Programs
Investor programs are designed for individuals with high net worth and the intention of making passive investments. Investors are not obligated to establish a business, and the Start-Up Visa Program is one of the best options for investors to explore.
Generally, the programs for entrepreneurs and the self-employed are for individuals who have a mid-range personal net worth and the intention of setting up and operating a business in Canada.
Start-Up Visa Program
To qualify as an applicant, investors must meet the following criteria:
- Have a qualifying business.
- Be at an intermediate level in both English and French.
- Receive a letter of support from a nominated institution and a commitment proposal for a minimum of $200,000 CAD from a venture capital organization or $75,000 CAD from a qualifying Angel Investor/Business Incubator.
- Have enough money upon arrival for permanent residence in Canada.
Entrepreneurs must meet the following qualifications:
- Establish, purchase, or make a substantial investment in a Canadian business within two years of their arrival to the country, resulting in a significant contribution to the economy.
- Actively participate in the management of the business.
- Employ a minimum of one Canadian citizen or permanent resident, excluding the entrepreneur and their dependents.
- Report on their progress to immigration officials within the two-year period.
To qualify for this program, self-employed individuals will be evaluated on:
- Language Abilities
Self-Employed individuals must meet the following:
- Have relevant experience, such as a minimum of two years of related work experience within the last five years.
- Be willing and capable of being self-employed.
- Meet medical, security, and other criteria.
British Columbia Business Immigration Programs
A business immigrant has three streams of the BC PNP to apply to, depending on their situation:
- Entrepreneur Immigration
- Entrepreneur ImmigrationーRegional Pilot
- Strategic Projects
Entrepreneur Immigration Stream
This Entrepreneur Stream of the British Columbia PNP will help you to migrate, find a permanent residence, and start up an innovative business, a business that will boost economic growth within the province. This is a golden opportunity for entrepreneurs who desire to migrate to BC and are 100% committed to managing a business in the province.
This Entrepreneur stream is for senior managers or business owners looking to invest in a BC business. Once qualified candidates have had their net worth reviewed and submitted their application, they will receive a letter of support from the government. This letter allows applicants to submit another application to Immigration, Refugees and Citizenship Canada for a two-year work permit.
Entrepreneur ImmigrationーRegional Pilot Stream
The Regional Pilot Stream is for experienced and passionate entrepreneurs wanting to establish businesses in smaller communities across the province. Entrepreneurs must contribute to the communities’ specific labour needs, and both applicants and communities must meet certain criteria. The availability of this entrepreneur stream has been extended to 2024.
Strategic Projects Stream
The Strategic Projects Stream of the BC PNP will assist foreign entrepreneurs that want to set up a business in British Columbia, whether they want to set up an operating facility, corporate headquarters, or a branch office.
Doing business in British Columbia is an amazing experience; companies enjoy freedom from external influence and get the needed assistance from the government when and where necessary.
Making the Next Step
We are here to make the immigration process easier for you. Contact Chris Brown, an expert immigration consultant,to discuss business immigration to BC and any other immigration matters.