Canada offers several immigration pathways for entrepreneurs aiming to establish businesses and obtain permanent residency. The primary options include the Federal Start-Up Visa Program, various Provincial Nominee Programs (PNPs), and the C11 work permit.
1. Federal Start-Up Visa Program
This program targets immigrant entrepreneurs with the skills and potential to build innovative businesses in Canada that can create jobs and compete on a global scale. To qualify, applicants must:
Secure a Letter of Support: Obtain backing from a designated organization approved to invest in or support start-ups.
Meet Ownership Requirements: Each applicant must hold at least 10% of the voting rights in the business, with the applicants and the designated organization jointly holding more than 50%.
Language Proficiency: Achieve a minimum of Canadian Language Benchmark (CLB) level 5 in English or French.
- Settlement Funds: Demonstrate sufficient funds to support themselves and their dependents upon arrival in Canada.
2. Provincial Nominee Programs (PNPs) for Entrepreneurs
Various provinces offer entrepreneur streams within their PNPs, each with specific criteria. Generally, these require a minimum investment (often starting at CAD 150,000 to 200,000), a detailed business plan, and a commitment to actively manage the business.
Notable examples include:
British Columbia (BC) Entrepreneur Immigration: Aimed at experienced business owners or managers who intend to invest in and actively manage a business in BC. Applicants must have a personal net worth of at least CAD$600,000 and be prepared to invest a minimum of CAD$200,000 in the business.
Ontario Immigrant Nominee Program (OINP) Entrepreneur Stream: Targets individuals from outside Canada looking to start a new business or buy an existing one in Ontario. Requirements include a minimum net worth of CAD$800,000 if the business is in the Greater Toronto Area (GTA) or CAD$400,000 outside the GTA, and a minimum investment of CAD$600,000 in the GTA or CAD$200,000 outside the GTA.
Saskatchewan Entrepreneur Stream: Designed for entrepreneurs planning to establish or partner in a business in Saskatchewan. Applicants need a minimum net worth of CAD$500,000 and must invest at least CAD$300,000 in Regina or Saskatoon, or CAD$200,000 in other communities.
3. C11 Work Permit
The C11 Work Permit is a Canadian work authorization under the International Mobility Program (IMP) designed for foreign entrepreneurs and self-employed individuals who wish to establish or acquire a business in Canada. This permit allows holders to operate their business without the need for a Labour Market Impact Assessment (LMIA), typically for an initial period of two years, with the possibility of extensions.
To qualify for the C11 Work Permit, applicants must:
Business Ownership or Control: Demonstrate ownership of at least 50% in a Canadian business, either by starting a new venture or purchasing an existing one.
Relevant Experience and Skills: Possess the necessary background and expertise to successfully establish and manage the business in Canada.
Significant Benefit to Canada: Show that their business will provide substantial economic, social, or cultural benefits to the country, such as job creation or innovation.
Financial Stability: Have sufficient funds to support themselves and invest in the business venture.
Each pathway has distinct requirements and processes. Prospective applicants should assess their business goals, investment capacity, and personal qualifications to determine the most suitable route.
