5 Ways to Get Canada Business Residency

November 11, 2021

Canada offers a wide range of opportunities to foreigners who want to do business in Canada. Every year, thousands of ambitious businesspeople apply for Canada business visas. The objective of the Business Immigration Program is to improve investment and employment in Canada through the migration of people who have the capability to successfully establish or invest in a business in Canada.

5 Types of Canada Business Visas

Applicants with business or managerial experience and relatively high net-worth may apply for a Canadian permanent residence under the Canada Business Immigration Program in any of the following sub-categories:

Investors
Entrepreneurs
Self Employed Persons
PNP Business Programs
Corporate Immigration

1- Start-Up Investor Program

When deciding to immigrate to Canada as an investor, probably the best option available is to apply for the general Start-up Visa Program. You will have to meet certain requirements for your application to be successful by being innovative, creating jobs for Canadians, and being able to compete internationally.

Requirements for Investors

To qualify for the Start-up Visa, applicants must:

Have a qualifying business,
Demonstrate intermediate knowledge in both English and French (CBL5),

Get a letter of support from a designated institution (Receive a minimum funding commitment of $200,000 CDN from a designated Venture Capital Organization, $75,000 from an approved Angel Investor, or Business Incubator),
Bring enough money to settle in Canada.

2- Entrepreneur Program

Entrepreneurs are encouraged to apply for this immigration program since they create employment opportunities and contribute to the Canadian economy. Successful applicants are able to open a business in Canada and gain permanent residence status in the country.

Requirements for Entrepreneurs

To qualify for the Entrepreneur Program, applicants must:

Establish, purchase or make a substantial investment in a business in Canada within 2 years of landing in Canada which will result in a significant contribution to the economy,
Engage in active and ongoing participation in the management of the business,
Employ at least one Canadian citizen or permanent resident other than the entrepreneur and his dependents.

Entrepreneurs are required to report to immigration officials their progress, on a regular basis within this two-year period to ensure that these conditions are met.

3-Self-Employed Persons Program

This business immigration stream is for those who will either establish or purchase a business in Canada that will make a “significant” contribution to the economy or the cultural or artistic life of Canada.

Eligibility under Self-employed person program

Have relevant experience (at least 2 years experience in the last 5 years),
Be willing and able to be self-employed in Canada,
Meet the program’s selection criteria (minimum 35 points) and,
Meet medical, security, and other conditions.

Selection criteria are based on:

Experience,
Education.
Age,
Language abilities,
Adaptability.

4-Business PNP Programs

The Provincial Nominee Program (PNP) allows individuals to be nominated by a province based on a number of factors. Most PNPs have an entrepreneur or investor program. Each province has instituted various net worth, investment, and business requirements, and applicants are encouraged to apply. In order to best fulfill the immediate and long-term needs of their respective region, each province has its own selection criteria. Following that nomination, qualified applicants can apply for permanent residency granted by the Canadian government. There are several business investment ways through PNP programs across Canada:

British Columbia PNP

Entrepreneur
- Requirements: $600,000 CAD net worth, 3 years experience being a business owner or manager, invest $200,000, and create at least 1 full-time job for Canadian citizens or PR.
Entrepreneur Regional Pilot
- Requirements: $100,000 investment, the personal net worth of $300,000, have a minimum of 51% ownership and create 1 full-time job in the local community,
- Criteria: The business must be located in a community within BC with a population of less than 75,000.

Manitoba PNP

Entrepreneur pathway
- Requirements: Minimum investment of $250,000, a net worth of $500,000 and have 3 years of work experience as a business owner/manager,
Farm Investor
- Requirements: $300,000 investment, $500,000 net worth, 3 years experience of farm ownership or operation.

New Brunswick PNP

Entrepreneur
- Requirements: Net worth $600,000 and must invest $250,000, 3 years of work experience as business owner or manager.

Northwest Territories PNP

Northwest Territory Business Stream
- Requirements: $500,000 net worth (if you want to live outside of Yellowknife then the requirement is only $250,000), $300,000 minimum investment (outside Yellowknife is only $150,000), 3 years of work experience as a business owner or manager.

Nova Scotia PNP

Entrepreneur
- Requirements: Net worth of $600,000, $150,000 minimum investment, 3 years of work experience as business owner or manager.

Ontario PNP

Entrepreneur
- Requirements: Net worth $800,000 (outside GTA is only $400,000), minimum investment of $600,000 (outside GTA is only $200,000) and must create 2 full-time positions (If outside GTA then only 1 full-time position).
  - If the proposed business is ICT / Digital Communications Sector then the net worth can be a minimum of $400,000 and the investment minimum is $200,000.
Corporate
- Requirements: International corporation must be established for at least 36 months, it must be linked to parent corporation abroad and a new business in Ontario, the primary income source must be from the actively earned income from the business.
  - The corporation must make an investment of 5 million dollars to expand into Ontario,
  - Must create 5 new jobs for Canadian citizens or PR’s for every “key staff” being nominated at the company.

Prince Edward Island PNP

Business Work Permit Stream
- Requirements: Net worth $600,000,
- Must get endorsed by the community (Known as “community endorsement”).

Quebec PNP

Quebec Entrepreneur Program
- Requirements: Net worth $900,000, minimum start-up deposit is $200,000 (In Montreal is $300,000).
Quebec Investor Program
- Requirements: Net assets worth 2 million dollars and must make a 1.2 million, 5-year term investment.

Saskatchewan PNP

Entrepreneur
- Requirements: Net worth of $600,000, $150,000 minimum investment, 3 years of work experience as business owner/manager

All successful PNP program applicants will get a work permit and will need to invest the monetary amount above within 1-2 years. Once job creation is completed then the applicant can apply for PR.

5- Corporate Immigration

Corporate Immigration is the perfect option for those who have started a business and would like to expand their business to Canada. This immigration category was specifically designed for large, medium, and small companies that need to transfer their employees seamlessly across borders. There are vital legal steps to take when transferring employees to Canada.

Obtaining Canadian residency under the “Business Class” has its advantages. If you apply, you will not necessarily require a working level of English or French nor have to meet strict educational requirements.

Also in some cases, as a business immigrant, your permanent residence status in Canada will be unconditional, meaning that you do not have to meet harsh terms and conditions requiring you to actively manage a business in order to maintain your status. Canada is rich with opportunities for aspiring businesses, and the Canadian market is thriving thanks, in large part, to foreign businesses, and it can be a great place for you to realize your potential.

For more please contact one of our advisors in the UAE, Denmark, or Canada, and we will do our utmost to answer your question regarding the residency, citizenship, and immigration processes.

If you have any questions or comments about Canada Residency by Investment, you can share them with us in the comments section.