Business Immigration to Canada | Entrepreneurship Immigration Program

Business Immigration to Canada

Over the years, Canada has immensely benefitted from foreign entrepreneurs who have immigrated to Canada to leverage their business. As per the world bank ease of doing business index ratings, Canada ranks 23rd in the world with the most diverse business culture. Considering the stats, the Canadian government has implemented a few business immigration programs to help business/start-up owners immigrate to Canada with no hassle. Below are listed a few business immigration programs that business owners can consider while applying for Canadian business immigration.

Entrepreneurship Immigration Program

The entrepreneurship immigration stream is specifically designed for individuals who already have an established business in their region and looking for global expansion. Apart from that, those interested in buying an existing business in Canada or establishing a new one both options are equally eligible under the entrepreneurship immigration program.

Upon completing 20 months of business on Canadian soil, foreign entrepreneurs need to approach the department of Immigration Refugees and Citizenship Canada (IRCC). This department will take the final call and ensure the eligibility for permanent Canadian residence as an entrepreneur.

But, evident to that, individuals must follow the necessary steps that undergo various approvals.

The entrepreneurship immigration stream includes the following steps:

Step 1

Write an expression of interest mail to the relevant authority of the entrepreneurship immigration stream.
After verification, you and your business partner (If applicable) will be asked to attend a mandatory interview (Mostly through video conference)
After the completion of step 1 successfully, you need to sign a performance agreement.

Step 2

In step 2, you will get temporary work permit support so that you can apply in the IRCC portal asking for a temporary work permit to establish and run your business in Canada.
You will have 20 months to execute your proposed business plan and provide financial reports.
If you could complete these 20 months coping with all the entrepreneurship immigration requirements by successfully executing your business plan, you will be rewarded with permanent residency.

Business1 Experience & Net Worth

As per the Canadian governments’ entrepreneur immigration rule, you have to have a minimum of 24 months of productive business experience out of 60 months as an owner, business manager, or managing director, respectively.

Also, you have a holding of at least 1/3 of your business stakes.

Also, it would be best if you showcased a minimum net worth of $800,000 Canadian if you’re proposing to establish your business in one of the largest metropolitan areas of Canada (e.g., Toronto, Montreal) OR for the suburbs outside the metropolitan area, the amount drops to $400,000 Canadian.

Investment & Minimum Equity

As a maximum stakeholder in your business, it is a no-brainer that you have done a considerable part of the investment throughout the years. However, to establish your business in Canada you must make a minimum required investment as follows:

within metropolitan areas, you must make a minimum personal investment of $600,000 Canadian
for suburbs, you must make a minimum personal investment of $200,000 Canadian

Note: Passive investments like mutual funds come under the in-eligible investment category and won’t be included in the applicant’s business investment section.

Job Creation Criteria

If you have set up your business within the metropolitan area, you are expected to hire at least two individuals (Permanent residentials) for a full-time role.

If you have established your business in the suburbs, you must hire a minimum of one permanent Canadian offering a full-time opportunity.
The candidates must be:

filled for at least ten months before your permanent Canadian residency.
paid at the median wage level regarding the designation
exist during final report and nomination submission

The above elaboration is just a glance at a few key highlights that need to prioritize during the entrepreneurship business immigration to Canada for permanent Canadian residency. Ensure reaching out in case of confusion: (info@immigrationcanadaservices.com)

Enrich ICS for Complete Guidance

We are a renowned and most trusted immigration service provider that helps individuals with hassle-free immigration to Canada. Keeping an eye over the difficulties applicants face during the business immigration process, we ensure complete assistance when asked.

If you seek help in business immigration to Canada, ICS can be your guiding light!

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