Canada as a Land for Entrepreneurs: How to Immigrate There with Your Business

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Moving to Canada is not an easy task. Many steps must be taken to apply successfully and obtain permission to immigrate to Canada. Also, the process can take months, and in some cases, years. 

On the other hand, Canada offers the most established and widely used investment immigration programs that grant permanent residency status. 

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                                                                                                                                     Photo by Berkay Gumustekin

Canada offers European-style social benefits with relatively high taxation and an unrivaled quality of life. Under Canada’s model, business immigrants can take advantage of a national health program, a national pension system that provides a measurable annual income upon retirement, and an affordable first-class education.

Business immigration offering permanent admission to Canada comprises the following: 

  • Quebec Immigrant Investor Program (QIIP)
  • Quebec Entrepreneur program, 
  • Quebec Self-Employed
  • Several Provincial Nominee Entrepreneur programs
  • The Federal Immigrant Investor Venture Capital (IIVC) Pilot Program
  • The Federal Start-Up Visa program. 

Various entrepreneurs and self-employed individuals are designed for individuals with medium net assets who intend to establish and run a business in Canada. 

However, investor programs are suitable for individuals with high net assets who want to make passive investments without starting a business.

Also, wealthy business immigrants can buy or start a new business in Canada and obtain a temporary work visa per the federal “owner-operator” policy. After a certain period, applicants may qualify for permanent residence under the appropriate immigration program.

Business Immigration To Canada

Canada strives to develop international business partnerships and welcomes business professionals who can establish themselves and start a successful business. It opens up new opportunities for Canadians by creating new businesses and jobs, career opportunities, and by establishing new export-import relationships internationally.

Globalization of the world economy makes it necessary to create and strengthen international commercial ties in order to keep abreast of international economic trends. With favorable legislation and a transparent tax system, Canada attracts businessmen worldwide to settle and invest in its economy.

When it actually comes to planning immigration, entrepreneurs may face difficulties since the programs and processes are not straightforward. That is why it is recommended to get help from an RCIC Canada who specializes in making immigration stress-free.

And the Canadian government is also trying to help entrepreneurs with immigration by offering many immigration options. The government has recognized the need to establish businesses and develop new economic ties. Therefore, the Business Immigration Program has received special attention.

The Business Immigration Program can be a federal immigration program or a provincial program (referring to the OINP business section), depending on where the interested party plans to settle and work.

Immigrant Investor Program

The investor immigration program is aimed at attracting experienced business investors to settle in Canada and create long-term opportunities for job creation and business development. To qualify for the program, potential candidates should:

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

The full investment amount will be returned to you without interest in full after five years. The ICRC will use the funds over five years to develop local economies and create jobs at both the provincial and federal levels.  

Start-Up Visa Program

Start-up businesses have been an important part of the Canadian economy for over a decade. Whether developing into a multinational corporation or continuing as a local mid-sized business, they are believed to play an important role in Canada’s overall economic growth, turn innovative ideas and new technologies into profitable businesses, and create employment opportunities for new talent.

The Startup Visa Program is open to immigrant entrepreneurs who can demonstrate the potential to build a business based on a creative idea or technology in Canada.

To apply for this visa, a business should:

  • Base themselves on an innovative idea or technology
  • Confirm their intention to invest CAD 75,000 from a third party.
  • Confirm investment intent of at least CAD 200,000 from the venture fund
  • Confirm acceptance by appointed business incubator.

Self-Employed Persons Program

The self-employed sector is a rapidly growing segment of the Canadian labor market. It is becoming increasingly popular as it offers some flexibility and contract opportunities with numerous business partners and employers, allowing self-employed workers to control their income and working hours.

The IRGC recognizes the importance of self-employed workers to the Canadian labor market. To qualify as a self-employed person, an applicant will need to demonstrate appropriate skills and support themselves and their dependants with their self-employed income (farmer, athlete, craftsperson, graphic designer, IT specialist).    

Quebec Entrepreneur Program

The Quebec Entrepreneur category of Canadian immigration was designed to provide qualified business owners and managers with the opportunity to obtain Canadian permanent residency. 

They can effectively establish or acquire an agricultural, commercial, or industrial business in Quebec.

Provincial Entrepreneur Programs

Provinces in Canada offer a variety of categories of entrepreneurs under their Provincial Nominee Programs. One of these categories allows immigrant entrepreneurs to settle in a particular province.

The Requirements To Immigrate To Canada

Money

The funds required to immigrate to Canada vary widely. Some immigration programs require nothing more than a fee to process your application. Others require a significant investment in Canada. 

All forms of business immigration require a significant investment in Canada. It may require the applicant to invest in a Canadian company or provide an interest-free loan to the federal or provincial government. 

Documents

The documents you need to apply for immigration depend on the program you are applying for. For example, some immigration programs require Canadian experience, and some do not require Canadian experience at all.

Documentation that is likely to be required includes identification/travel documents, educational documents, proof of work experience, and financial history. To determine which documents you need, you should first determine which immigration program is best for you.

The Canadian Advantage

Canada is open to business for aspiring entrepreneurs from all over the world. There are a number of reasons why Canada is the best place to start your business:

Strong Economic Growth

Forbes considers Canada to be one of the best countries for business. Canada has the strongest financial position in the G-7 and one of the best fiscal prospects in the G-20.

Low Taxes And Cost Of Doing Business

Canada offers low cost and low tax conditions for your business to thrive. Canada’s overall tax rate on new business investments is significantly lower than in other G-7 countries. According to the KPMG rating, Canada is the most tax-competitive country among the G-7 countries.

Excellence In Research And Innovation

Canada offers an enabling environment for research and innovation, including the world’s leading research infrastructure (R&D), attracting scientific talent and stimulating innovation. 

Combined federal and provincial investments can pay back an average of 30 percent of foreign investors’ investment in research and development in Canada.

Highest Quality Of Life

The highest quality of life in Canada is an excellent backdrop for the success of individuals, families, and companies working around the world. Canada is home to a flexible, multicultural, and highly educated workforce.

Ready For The Canadian Boost?

Cities and rural areas in Canada depend on visitors to sustain population growth and support their labor markets. 

Canada is also experiencing an aging population. Without a robust immigration system, Canada would have been on a trajectory similar to that of Japan in the 1990s. 

However, unlike Japan, Canada has adopted immigration, which has enabled them to support a significant proportion of the working-age population, ranging from 25 to 54. It would not have been possible without mass immigration to Canada.

Entrepreneurs are especially valuable. If you have the experience to start your own business or have an idea of the great potential you want to realize in Canada, welcome to the country. 

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Canada as a Land for Entrepreneurs: How to Immigrate There with Your Business
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Moving to Canada is not an easy task. Many steps must be taken to apply successfully and obtain permission to immigrate to Canada.
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