Business Immigration

Canada is a country that welcomes those businessmen who are looking for new opportunities and challenges in Canada. The federal, as well as the provincial/territorial government, like to invite those immigrants who want to start a business and settle in Canada.

There are two categories under this program:

  • Self Employed Persons
  • Start-up Visa Program

Start-up Visa Program:

This program offers an opportunity to the entrepreneurs to immigrate to Canada to set up a new business

Requirements:

There are 4 eligibility requirements to qualify for the Start-Up Visa program.

An individual must:

  • Have a qualifying business.
  • Have a letter of support from a designated organization.
  • Meet the language requirements- must score min level CLB 5 in either French or English.
  • Have enough funds to settle in Canada before one starts earning from the business. Funds depend on the family

Self-Employed Person:

This program allows people to immigrate to Canada permanently as self-employed persons.

Requirements:

  • An individual must have 2 years of relevant experience.
  • One must also score at least 35 points on the selection grid to determine if he/she will be able to make an economic contribution to the Canadian economy.
  • On must pass criminal and security checks. business.

Different provinces offer different business immigration programs.

Ontario Entrepreneur Stream:

One such program in Ontario is Ontario Entrepreneur Stream. This program is aimed at those individuals who want to set up a new business or buy an existing business in Ontario only.

The Entrepreneur Stream is an immigration stream under the Ontario Immigrant Nominee Program (OINP).  An applicant will be qualified to apply for Canada PR  under this program once he is nominated.

The Entrepreneur Stream application is a two-stage process.

Stage 1

  • Submit an “ Expression of Interest”.
  • Once the invitation is received, submit an online application.
  • After filing an application, you must attend a mandatory interview.
  • You must sign a performance agreement after the stage 1 application is successful.

Stage 2

  • A temporary work permit support letter is issued so you can apply to IRCC for a temporary work permit.
  • You have 20 months to establish the business in Canada.
  • If the business plan meets all requirements, documentation will be asked to confirm the availability for the nomination of PR.

Requirements:

  • One must demonstrate that he/she will have a business that will provide economic benefit to the economy of Ontario as a whole or to the local Ontario economy where the business will be located.
  • Individuals must have full-time business experience of at least 24 months in the last 60 months.
  • If you aim to open your business in GTA, you must have a minimum personal net worth of $800,000 Canadian, and you need to invest at least $600,000, whereas, outside GTA, you must have min net worth of $400,000 and invest $200,000.
  • If the business is to be located inside the GTA (Greater Toronto Area), you must create at least 2 permanent full-time jobs for Canadian permanent residents or citizens.

Additional Requirements if buying an existing business:

  • You should come at least once to Ontario within 12 months from the date of showing interest.
  • The business which you are planning to purchase must have been in business for at least the last 60 months.
  • You must use at least 10% of your investment in either expanding or improving the business.
  • You must keep all the full-time, permanent jobs in the business which were there prior to the change of ownership.

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