(Thursday, 26th July 2018)
by Prashant Ajmera
Canada is a pioneer in business immigration programmes and has always remained forefront in coming up with new programmes and options to attract entrepreneurs from all over the world.
Due to the attractions of setting up businesses in the major urban centres of Canada, such as Toronto, Montreal and Vancouver, the federal government has signed an agreement with various provincial governments, which has developed their own business immigration programmes for SMEs and also for farmers in some provinces. This allows an investor to choose from 10 PNP Entrepreneur business immigration programmes.
General requirements:
1. The investor must have assets of C$400,000-$800,000;
2. Two to three years of business experience as an owner or senior executive of a company;
3. A business exploratory trip to Canada for two to three weeks and;
4. A detailed business plan with a complete understanding of the viability and legality of the business to be started in Canada;
5. Job creation for two to three people for local Canadian citizens or permanent residents.
Investors are allowed to open new a business, purchase an existing business or make a partnership with local businesses.
If investors do not take an exploratory trip to meet government departments, professionals, business associations, business counterparts, etc to find out about the correct rules and regulations for operating a business in Canada and then make a detailed business plan, we believe the officer will not be satisfied and your application isn’t likely to receive approval.
Please note that the amounts and requirements shown are minimum as a guide only. If an investor does not show their commitment to start and operate the business themselves, they will also have difficulty in getting an application approved.
Here is a summary of some of the most popular programmes:
| Province | Programme name | Minimum requirement | Minimum investment in Canadian dollars |
Remarks |
| British Columbia | Farmer/business owner/operator | a) Age = no limit
b) Personal net worth = C$600,000 c) Experience = 5 years d) Business key person can immigrate with the applicant e) Mandatory visit before application |
No deposit
investment = min C$200,000 |
IELTS not necessary. There are other options for higher investment for company who wish to expand business in BC. |
| Manitoba | Young farmer | 3 years of experience in farming
Net worth $350,000 |
C$150,000 | Applicants are required stay on the farm |
| Entrepreneur | a) Age = no limit
b) Experience (owner/manager) = 3 years C) Personal net worth = C$500,000 |
Urban area C$250,000
Ruler area C$150,000
|
a) 7 days visit mandatory
b) Basic English (no IELTS) online process |
|
| New Brunswick | Entrepreneur | a) Age = 22-55
b) Experience = business owner 3 years / manager 5 years C) Personal net worth = C$600,000 (C$300,000 liq.) d) Education = 12 years school + 2 years college |
C$250,000 and deposit of C$300,000 | IELTS 5 band – online process |
| Post graduate entrepreneurial stream
|
a) Age = 20-40
b) Experience = 1 year in NB as owner and manager of business c) Education = 2 years study in NB at university or college |
IELTS 6 band each
Must be in valid postgraduate study permit
|
||
| Nova Scotia | Entrepreneur | a) Age = 21 years+
b) Experience = owner 3 years / manager 5 years c) Net assets = C$600,000 |
C$150,000+
|
IELTS 5 band
|
Author: Prashant Ajmera
The author is an Indian immigration attorney with 25 years of experience in the area of practice residency and citizenship by investment, with presence and associates in several countries.
