CANADA’S BUSINESS IMMIGRATION:
Canada needs investors, business managers, and experienced entrepreneurs who are interested in settling and seeking new opportunities in Canada to apply to number of Business Immigration Programs. Your experience and business expertise are valuable assets that can help you invest in your future with Canada’s fast-growing stable and diverse economy.
Federal Business Immigration Programs:
There are two Federal business immigration programs currently open to international business individuals as follows:
1 – Self-employed Persons:
To qualify as a self-employed person, you must have two years of relevant experience and demonstrate that you have genuine intention and ability to economically establish by becoming self-employed in Canada. You must also score at least 35 points on a selection grid designed to determine whether you will be able to make an economic contribution to Canada as a self- employed person.
2 – Start-up Visa Program:
To qualify for the Start-up Visa Program, you must meet all of the following 4 eligibility requirements, as well as the admissibility requirements to enter Canada.
Eligibility requirements for the Start-up Visa Program:
- have a qualifying business
- have a letter of support from a designated organization
- meet the language requirements, and
- have enough money to settle and live in Canada before you make money from your business
Provincial Nominee Programs for Business Immigration:
Each province and territory operate its own PNP business immigration programs and many of which have a category for candidates with entrepreneurial or senior management experience. The eligibility criteria and application procedure for each PNP category is different, but successful applicants can receive a provincial nomination which will allow them to later apply for permanent residence at the federal level.
The province of Ontario selects its own applicants under OINP-Entrepreneur stream as follows:
The Entrepreneur Stream is an immigration stream under the Ontario Immigrant Nominee Program (OINP)
This stream is for entrepreneurs from outside of Canada interested in starting a new business or buying an existing business in Ontario.
It gives an entrepreneur (and up to one foreign national business partner) the opportunity to be nominated for permanent residence once their business has been established in Ontario.
If you are nominated, the next step will be to apply to the federal government through Immigration, Refugees and Citizenship Canada (IRCC). They make the final decision on who becomes a permanent resident.
Please review the following official weblink from Ontario government for more details.
New Brunswick Entrepreneurial Stream – Direct PR category
The New Brunswick Entrepreneurial Stream is designed for experienced business owners and senior managers who wish to become permanent residents by owning a business in New Brunswick (NB) and managing it, while residing in the Province. The New Brunswick Entrepreneurial Stream is an economic immigration program for experienced entrepreneurs who are ready to establish, operate and actively manage a business while living and settling in New Brunswick permanently. When applying to any of New Brunswick’s immigration streams, you must be Permanent Resident (PR) Ready. In the New Brunswick Entrepreneurial Stream, it means that you meet all minimum eligibility requirements and selection factors and have all the required documents on hand to prepare and submit a complete and correct application to the Government of New Brunswick and to the Government of Canada. Being PR Ready means more efficient processing, fewer delays and a better experience navigating the New Brunswick and Canadian immigration programs. In most cases, this means your application will be processed faster.
NBPNP applications require two stages of approval before PR status may be obtained.
Stage 1: Application to the NBPNP for a nomination certificate
If you meet all eligibility criteria and selection factors, you can apply to the NBPNP by registering online and submitting an Expression of Interest (EOI). If an Invitation to Apply (ITA) is sent to your attention, then you can submit a full application online. In some cases, you may be asked to attend an interview.
Stage 2: Application to Immigration, Refugees and Citizenship Canada for a PR visa
If you are nominated by PETL, you may then apply to the Government of Canada for a PR visa, through Immigration, Refugees and Citizenship Canada (IRCC). In this case, you will send your application to the IRCC Centralized Intake Office in Sydney, Nova Scotia, Canada. You, your spouse and dependents under 22 years of age single and never married must meet statutory requirements for medical, security and criminal admissibility. IRCC has the final authority to issue a PR visa. There is no guarantee that IRCC will approve your PR application even if you are issued a provincial nominee certificate by the provincial government. The New Brunswick Entrepreneurial Stream is open to foreign national entrepreneurs or senior managers, living in Canada or abroad, who are ready to establish, operate and actively manage a business while living and settling in New Brunswick permanently. To apply to the stream, you must make sure that you meet all eligibility requirements. If all eligibility requirements have been met, you will be assessed according to the following selection: age, language, education, personal net worth, business ownership and/or senior management experience, business concept and adaptability. A minimum of 65 of 100 points is required to be successful.
You must be between 22-55 years of age. Your age is assessed as of the day that a complete application is submitted to PETL in response to an Invitation to Apply (ITA).
To meet the language requirement, you must submit valid test results from a designated testing organization to show you have obtained a minimum score equal to or greater than a Canadian Language Benchmark (CLB) 5 for English.
Valid language test results must be from one of the following designated language- testing organizations:
- International English Language Testing System (IELTS) General Training
- Canadian English Language Proficiency Index Program (CELPIP) General
Education: You must, at a minimum, have a two-year post-secondary education after high school diploma equal to a Canadian credential. If you have a foreign education, you will need an Educational Credential Assessment (ECA) report from a recognized organization to show that your credential is valid and equal to a Canadian credential. If you already have an ECA report, it must be less than five years old when IRCC receives your PR application, should you receive a nomination certificate. You don’t need an assessment for a Canadian degree, diploma or certificate.
To obtain an ECA Report, you must be assessed by an organization or a professional body designated by IRCC. They will give you a report that tells you what your education is equal to in Canada. Once you choose a designated organization or a professional body, they will tell you how to submit your documents to get your assessment. Designated organizations include:
- Comparative Education Service (CES)
- International Credential Assessment Service of Canada (ICAS)
- World Education Services (WES)
- International Qualifications Assessment Service (IQAS)
- International Credential Evaluation Service (ICES)
- Medical Council of Canada (professional body for doctors)
- Pharmacy Examining Board of Canada (professional body for pharmacists)
Personal Net Worth: “Personal net worth” means value of total assets less the value of total liabilities. It includes all your assets as well as those of your spouse or common-law partner and must be in either or both of your names. You must have a verifiable personal net worth of at least CAD $600,000 of which CAD $300,000 must be liquid and unencumbered. Your personal net worth must be legally obtained and must be verified by a third-party professional designated by the Department.
“Total assets” means cash in current bank accounts; fixed (term) deposits; pensions; publicly traded stocks, bonds and mutual funds; real property and investments in one or more businesses. “Total liabilities” means mortgages, personal debts and other encumbrances.
Business Ownership / Work experience
As a business owner you must be the business owner (of at least 33 3%) for at least three out of the last five years; and be responsible for supervising at least two employees.
Based on your senior management experience:
- you manage the organization, a department, division, or component of the organization; or an essential function within the organization; and
- you are the senior manager in a business in three out of the last five years; and
- you are responsible for supervising at least two employees; and
- you have the authority to hire and terminate employment, or recommend these and other personnel actions, such as promotion and leave authorization.
- you are personally involved in the day-to-day operations as a primary decision maker; and
- you must have been actively involved in a private sector, for-profit, company that is not owned or operated by a government or voluntary sector.
Business Concept: You must submit a business concept with your EOI. You must demonstrate that the business concept is of economic benefit to New Brunswick and operates for the primary purpose of earning profits by providing products and/or services. You must demonstrate that you have conducted extensive research and considered relevant economic, market and cultural factors. You must also take into account your personal strengths and weaknesses.
Your business must be:
- of economic benefit to the province and you must have a minimum of 33.33 percent ownership and assume an active senior management role in the day- to-day operation of the business;
- established as a sole proprietorship, partnership or corporation; (in the case of a partnership, the other partner(s) must be a Permanent Resident or Canadian Citizen);
- the continued operation of an existing business or the establishment of a new business and
- a private-sector, for-profit entity with the primary purpose of earning profits through the sale of goods and/or services.
Priority processing is given to the applications with business plans that have the greatest potential to create significant economic benefit through:
- increased value-added manufacturing or processing for New Brunswick exports, enhanced research and development;
- development of innovative approaches to traditional businesses;
- development and/or enhancements of new technologies;
- the transfer of technology and specialized knowledge to New Brunswick and
- providing products and/or services to an under-served local or regional market; and other, as determined by PETL.
When investing in a business, you must: · make an eligible business investment of not less than CAD $250,000 before tax and control at least 33.33 per cent equity in the business.
Please note that your total business investment excludes working capital such as rent, wages, leasing costs, cash flow and any other recurring expenses as deemed, by PETL, ineligible for the purposes of this program. Eligible investments must be derived from your personal net worth and may include but are not limited to:
When applying to any of New Brunswick’s immigration streams, you must be PR Ready. In the New Brunswick Entrepreneurial Stream, it means that you meet all minimum eligibility requirements and selection factors and have all the required documents on hand to prepare and submit a complete and correct application to the Government of New Brunswick and to the Government of Canada. Being PR Ready
means more efficient processing, fewer delays and a better experience navigating the New Brunswick and Canadian immigration programs. In most cases, this means your application will be processed faster.