Canadian Business Immigration Programs - Explained

Interested in immigrating to Canada as an entrepreneur? As you may know, Canada has several business immigration programs to offer potential immigrants. But if you aren’t sure which one is right for you, this guide breaks down the differences between the various Canadian business immigration programs available. Clients who wish to immigrate to Canada can apply through one of four different Canadian business immigration programs.

Canadian business immigration programs allow international entrepreneurs to immigrate to Canada and start or grow their businesses in the country. Each of these Canadian business immigration programs has its own eligibility requirements, but all applicants must establish that they have enough money to support themselves financially and that they have the business experience and expertise to contribute meaningfully to the economy of Canada. This article will help you understand what your options are and how to choose the right program for your individual situation.

Understanding the Canadian Business Immigration Program

The Government of Canada is seeking investors, business managers, and entrepreneurs of all shapes and sizes who are interested in settling and seeking new opportunities in Canada to apply to the wide range of fast-tracked Business Immigration Programs. Canada always strives to develop international business partnerships and welcomes business professionals to settle and start successful commercial operations in the country. Globalization of the world’s economy makes it essential to build and strengthen international commercial ties to stay on top of international economic trends.

This brings new opportunities for Canadians by establishing new businesses and creating jobs, as well as forging new export and import ties internationally. This has been recognized by the government, and as a result, the Business Immigration Program has been enjoying special focus and attention from the IRCC, with the aim of facilitating the process. Through its various business immigration programs, Canada aims to attract individuals that have a significant ability to contribute to the economy. 

The Canadian Business Immigration Program aims to create new opportunities in local markets, by welcoming those who have the skill and experience to help grow it. The objective of the Business Immigration Program is to encourage investment and employment in Canada through the migration of individuals (investors, entrepreneurs, and self-employed) with available venture capital, significant business acumen, and entrepreneurial skills to successfully establish or invest in a business in Canada. 

Categories of Business Immigration Programs in Canada

The Business Immigration Program exists both as a federal immigration program and a Provincial Nominee program, depending on where the interested party is planning to settle and operate. Both the federal and provincial/territorial governments welcome business immigrants and offer services to help immigrants start a business and settle in Canada.

There are 5 main categories of Business Immigration Programs in Canada. Although, there are 3 Business Immigration Programs streams that are currently available.

• Self-employed Program
• Start-up Visa
• Business Visitor Visa
• PNP Entrepreneur Visa Streams
• Investor Visa

Self-Employed Persons Program

The Self-employed Persons Program allows people to immigrate to Canada permanently as self-employed persons. This program is for people who are capable of creating their own employment, by contributing athletically, culturally, or artistically to Canada’s employment market. People with sufficient funds and relevant work experience can apply for the Self-employed Program. However, a self-employed person is someone who works on their own. They do not work for a business or company or have someone who oversees their daily tasks.

The self-employed labor sector is a rapidly growing segment of the Canadian labor market. It becomes increasingly popular as it offers a certain flexibility and contract opportunities with multiple business partners and employers allowing the self-employed workforce to control income and work time.

The IRCC recognizes the importance of the self-employed workforce for the labor market in Canada. To be able to qualify as a self-employed person, the candidate will have to demonstrate relevant skills, as well as the ability to support themselves and their dependents with their self-employed income (farmer, athlete, artisan, graphic designer, IT specialist).

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

Start-Up Visa Investor Program

Start-up businesses have been an important part of the Canadian economy for over a decade. Whether they develop into a multinational corporations or continue to operate as local mid-sized businesses, they are considered to be important in overall Canadian economic growth, helping to turn innovative ideas and new technologies into profitable enterprises and creating employment opportunities for new talent.

When looking to immigrate to Canada as an investor, the best option available is to apply for the general Start-up Visa Program. Start-up Visa candidates may apply if they have a qualifying innovative business that will help grow the Canadian economy as well as create jobs in Canada. Successful applicants will get permanent residence for both themselves and their families.

Requirements for Start-up Visa Investors Program

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

Business Visitor Visa

A Canadian Business Visitor is an individual coming temporarily to Canada with the purpose of engaging in international business activities, without directly entering the Canadian labor market. For example, a business visitor would be someone who comes to Canada to meet Canadian clients doing business with his or her company based outside of Canada.

A foreign national with a Canadian Business Visitor Visa will be able to travel anywhere in Canada, while visiting family, and friends, and enjoying the best attractions along the way. However, as a business visitor, who wants to apply for a Canadian Business Visitor Visa, you must show that:

• You plan to stay for less than six months;
• You do not plan to enter the Canadian labor market;
• Your main place of business, and source of income and profits, is outside of Canada;
• You have documents that support your application;
• You meet Canada’s basic entry requirements with a valid travel document, such as a passport:
• You have enough money for your stay and to return home;
• You plan to leave Canada at the end of your visit; and
• You are not a criminal, security, or health risk to Canadians

PNP Entrepreneur Visa Streams

This Entrepreneur Visa program is no longer running, as of July 2012, and there are currently no plans to resume the program.  The program has been replaced by provincial programs for foreign entrepreneurs who want to start, acquire or invest in a business in Canada

This program is for workers who:

• have the skills, education, and work experience to contribute to the economy of a specific province or territory
• want to live in that province, and
• want to become permanent residents of Canada

Each province and territory has its own “streams” (immigration programs that target certain groups) and requirements. For example, in a program stream, provinces and territories may target students, business people, skilled workers, and semi-skilled workers.

Requirements for the PNP Entrepreneur Visa Streams

Requirements for this program vary depending on the province, standard requirements include:

Having at least three years of experience in running a business acquired during the five years preceding the date you submitted your application. This is defined as the actual and full-time assuming of the responsibilities and duties related to the planning, management, and control of material, financial and human resources, or specialization process attested to by a diploma.

The province and its available streams are as follows: 

1. Alberta
   • International Graduate Entrepreneur Immigration Stream
   • Self-Employed Farmer Stream
2. British Columbia - Entrepreneur Immigration Stream (Regional Pilot)
3. Manitoba
   • Entrepreneur Pathway
   • Farm Investor Pathway
4. New Brunswick - Business Immigration Stream
5. Newfoundland and Labrador
   • International Entrepreneur Stream
   • International Graduate Entrepreneur Stream
6. Northwest Territories - Business Stream
7. Nova Scotia
   • International Entrepreneur Stream
   • International Graduate Entrepreneur Stream
8. Ontario - Entrepreneur Stream
9. Prince Edward Island - Entrepreneur Work Permit
   • Entrepreneur Category
   • International Graduate Entrepreneur Category
   • Farm Owner and Operator Category
10.  Yukon - Business Nominee Program

Investor Visa (Terminated)

The Immigrant Investor Program aims to attract experienced business investors to settle in Canada and create long-term opportunities in job creation and developing businesses. Depending on which Investor Visa candidates apply for they may stand the chance to gain permanent residence for both themselves and their families by investing in Canada’s economy.

To qualify for the program the potential candidates must prove that they:

• Have the required business experience
• Show a net worth of $1,600,000 CAD gained legally
• Invest $800,000 CAD

The full amount of the investment will be returned to you in full without interest, within the 5-year term. The funds will be used for 5 years by the IRCC to develop the local economy and create jobs both on the provincial and federal levels.

Frequently Asked Questions

Furthermore, here are some of the most commonly asked questions related to the Canadian Business Immigration Program Streams.

How much do I need to immigrate to Canada as an entrepreneur?

You will need a $75,000 - $200,000 investment from a designated organization when applying through programs such as the Start-up Visa program.

Who is eligible for the self-employed person program?

You will need to prove that you have the experience, cultural, artistic, or athletic, that allows you to be self-employed while living in your country of origin. The more experience you have the better your chances are of receiving the visa as you’ll get more points.

What qualifies a self-employed person in Canada?

A self-employed person is an individual that is hired by a company to perform specific duties. Other factors that make someone a self-employed person is:

• You have the right to work for other companies;
• You generally use your own equipment and space; and
• Your employment is not subject to the same employment legislation as those employees of the company you’re hired by.

Final Thoughts

That's all we have on Canadian Business Immigration streams. For more information on Canadian business immigration programs, please contact a member of a Canadian immigration law team. In conclusion, make sure that you have done your research before coming up with an idea. There is nothing worse than spending months developing a new company only to find out that it is not legally viable! You can proceed with the for more information on this topic.