Canada welcomes successful business people who are seeking new opportunities and challenges. The Business Immigration Program is designed to encourage and facilitate the admission of these individuals. Both the federal and provincial/territorial governments welcome business immigrants and offer services to help immigrants start a business and settle in Canada.
Investor Visa allows you to immigrate to Canada by starting a business anywhere in the country. You and your business will have to meet a set of requirements in order to be successful with your application. In general, your business must be innovative, create jobs for Canadians, and be able to compete internationally.
It is widely believed that Canada is among the top 10 easiest countries to start a business in. This is due to the country being extremely rich in natural resources, having an immensely skilled labour force, and a stable government.
If you would like to invest in your future and immigrate to Canada with your business venture, there are several Entrepreneur and Investor Visa options available to you, including the general Start-up Visa Program and the Provincial-specific Nominee Program. If you are successful with your business immigration application, you and your family can move to Canada together.
Start-up Visa Program
The Start-up Visa Program is a general Business Immigration or “Investor” Visa option that allows you to immigrate to Canada by starting a business anywhere in the country. You and your business will have to meet a set of requirements in order to be successful with your application. In general, your business must be innovative, create jobs for Canadians, and be able to compete internationally. While you wait for your application’s approval, you can also apply for a temporary work permit to keep you busy in Canada.
Start-up Visa Program Requirements
1. Once a designated organization commits to your business:
- all applicants (up to 5 people can apply as owners) must each hold at least 10% of the voting rights attached to all outstanding shares of the business; and
- together with the designated organization, they must hold more than 50% of the voting rights attached to all outstanding shares of the business.
2. Once you receive permanent residence, you must make sure that:
- you play an active role in the ongoing management of your business while living in Canada;
- the essential operations of the business must partly take place in Canada; and
- your business is incorporated in Canada.
3. You must also get a letter of support from a designated organization that proves they are willing to invest in and support your start-up. These organizations include:
- Venture Capital Firms ($200,000 investment);
- Angel Investor Groups ($75,000 investment); and
- Business Incubators.
4. Have a minimum of CLB (Canadian Language Benchmark) level 5 as your language proficiency results. The Canadian government doesn’t give financial support to this “investor” visa. You need to be able to prove that you have enough money to settle yourself and your family in Canada.
How do I get an Entrepreneur Visa for Canada?
The first step is to choose your visa program. Two of the best options are the Start-up Visa Program and one of the various Provincial Nominee Entrepreneur programs mentioned above. The Start-up Visa usually requires having a letter of support from a designated organization, has language requirements as well as certain financial requirements.
How much money do you need to immigrate to Canada as an entrepreneur?
To apply for a Start-up Visa you will need an investment of between $75,000 and $200,000 from a designated organization. If applying through a provincial entrepreneur program, it will vary depending on the province or territory and immigration stream, ranging from $50,000 to $600,000.
Is Canada good for entrepreneurship?
Canada is one of the best places to start a business. Not only does it have an extremely talented workforce, but it also has a global market access through 14 trade agreements with 51 countries, low costs, and reduced risk. You will also have access to new technologies and innovation and can look forward to enjoying a high quality of life in Canada.
Can an international student start a business in Canada?
No, not while you are studying, as you need to be a Canadian citizen or permanent resident to start a business in Canada. Canada, however, has various provincial entrepreneur and graduate start-up programs specific to the province or territory you have studied in and have received your qualification.
What is the best business to start in Canada?
The best place to start when considering bringing your business to Canada is to do some market research. You will find great business opportunities for immigrants in the agricultural, accommodation and food services, wholesale and retail, construction as well as professional, scientific, and technical service sectors.
Take the first step on your journey to Canada with WestSun Immigration Services, Inc.!