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All the things that make Canada such a sought-after immigration destination also make it the perfect place to develop new business ventures. Canadian businesses benefit from an abundance of natural resources including vast energy resources, a highly-educated labour force, and easy access to some of the world’s largest markets.
The best part is that Canada is a great place to live. With a diverse and friendly population, unparalleled natural beauty, a very high standard of living, excellent infrastructure, world-class educational institutions, and universal healthcare- what’s not to love?
If you have an innovative idea or the skills and experience to grow a successful business venture, Canada wants you! There are currently many business immigration programs to Canada that can facilitate fast-tracked routes to permanent residency.
The Startup Visa Program and the Federal Self-Employed Persons Program
Two business Immigration to Canada programs are currently open at the Federal level- the Startup Visa Program and the Federal Self-Employed Persons Program.
The Startup Visa program applies to foreign nationals looking to launch a new innovative business venture in Canada. To earn approval, you must demonstrate that your business idea will create jobs in Canada and that principal operation will occur from within the country. Additionally, to qualify for a Startup Visa, the applicant must secure support from a recognized business incubator or financial backing from a designated venture capital fund or angel investor.
The applicant must retain no less than 10% of voting shares in the company and hold more than 50% of all shares (together with a designated organization) and up to five applicants may apply individually as business owners.
There are also capital requirements separate from receiving support or funding from a designated organization. Applicants must show they have sufficient funds to settle in Canada as the amount required will vary. Life in Canada can be expensive, particularly when starting a business, so be prepared to bring more than required.
The Federal Self-Employed Persons Program applies to individuals who have experience in cultural activities and professional-level athletes. If you have experience in one of these fields and score high enough on relevant selection criteria, you may be eligible for the Federal Self-Employed Persons program.
Provincial Nominee Business Immigration Programs
In addition to Federally administered programs, several entrepreneur and business immigration programs are operated at the provincial level through various Provincial Nominee Programs.
The BC Entrepreneur Immigration (EI) Regional Pilot program offers foreign nationals the opportunity to establish a business in smaller BC communities. The pilot program was launched in 2019 and extended through March 2024.
The program has several important eligibility criteria, including business or management acumen and an exploratory visit to the intended community. However, the personal net worth and investment requirements are significantly lower than other business immigration programs.
The Manitoba Business Investor Stream encompasses two business immigration programs targeting foreign nationals who want to establish new business ventures or take on existing ones in this Prairie province.
The Manitoba Entrepreneur Pathway is aimed at experienced business professionals and business owners who have the savvy and capital to lead a successful enterprise. The Farm Investor Pathway targets individuals who have a proven record of owning and operating a farm.
These are just a few of the many business-targeted immigration to Canada pathways available to innovative immigrants who want to establish themselves and their businesses in Canada. If you have the drive but need practical guidance, our experienced team can help you make your dreams of owning a business in Canada a reality.