What are the Different Immigration Streams Offered Under the Business Immigration to Canada?
Business Immigration offers the opportunity to immigrate to Canada through the following programs:
Federal Start-up Visa Program: The Start-up Visa Program is for foreign entrepreneurs who want to establish a new business in Canada. No minimum investment is required.
However, you must attain a letter of support or commitment certificate from a designated Canadian organization. Foreign business entrepreneurs can acquire permanent residency by starting a business with a designated Canadian organization.
Provincial Business Program (PNP): Provincial Nominee Programs are unique to every province and territory in Canada. These streams under various PNPs are designed to attract international entrepreneurs, investors and graduates.
There are different net worth and investment requirements in establishing or acquiring a business in a chosen province or territory.
Owner Operator LMIA: Businesses hiring foreign workers for legal employment in Canada usually require a full LMIA (Labour Market Impact Assessment) before proceeding to the next phase of the process.
Businesses undergo the LMIA process to prove that hiring outside of Canada won’t create a negative impact on the Canadian economy. This document proves genuine need for a foreign hire to fill a vital position. The process is complex and is very detailed.
For owner operators LMIA, creating business in Canada is the main skillset, so is exempted from the arduous LMIA process.
Federal Self-Employed Program: The Federal Self-Employed Persons Program is for foreign nationals who want to work in Canada as self-employed professionals in the farming or cultural or world-class athletic fields.
You must have the relevant experience and ability to establish yourself in Canada.
Quebec Self-Employed Worker Program (QSWP): You can apply for the Quebec Self-Employed Worker Program if you intend to create your own job while you are residing in Quebec as a self-employed person.
You must have minimum net assets of $100,000 to be eligible. You also need to score a minimum of points on the self-employed assessment grid.
Quebec Immigrant Investor Program: The Quebec Immigrant Investor Program allows you to immigrate to Quebec as an investor. You do not need French proficiency to be eligible for this program.
However, you must have a minimum net worth of $2,000,000 and make a 5-year investment of at least $1,200,000 with the Investissement Québec – Immigrants Investisseurs Inc.
Quebec Entrepreneur Program: Under the Quebec Entrepreneur Program, you can immigrate to Canada if you intend to establish or acquire a business.
You can apply under 2 streams based on your circumstances. Stream 1 is for businesses or start-ups founded with the support of a business incubator, an accelerator, or a university in Quebec.
You can establish this business alone or with partners who are Canadian citizens or foreign nationals. You will be required to own and control at least 25 percent of the equity capital.
Stream 2 is for individuals who want to acquire an existing business. You must own and control at least 51% of the business’ equity capital.
Business Visitor: If you want to visit Canada as a business visitor to establish business connections or attend a conference, then you require a visitor visa.
Some certain occupations and services allow you to engage in gainful employment on a visitor visa and without a temporary work permit. It is known as a work without a work permit.
Permanent Residency for World Class Athletes and Related Occupations: World-class athletes, coaches and athletic event organizers are allowed to immigrate to Canada as self-employed individuals under the Federal Self-Employed Program. This program is specifically designed for people who can contribute to Canada’s sports culture.
Permanent Residency for the Film Industry: As an individual working in the film industry, you can apply for permanent residency through Express Entry and Global Talent Stream LMIA. Canada encourages professional and talented workers to immigrate to Canada by providing LMIA exempt work permits and Express Entry options.