Entrepreneur Immigration Programs in Canada
There are several different Entrepreneur Immigration Programs in Canada, including the Quebec Entrepreneur Program and the Federal Startup Visa. As well, there are several Provincial Nominee Programs for Entrepreneurs.
Federal Entrepreneur Program
Applicants looking to start a new business in Canada will be happy to know that the government of Canada has launched an entrepreneur program. These programs help new entrepreneurs to start up their businesses, and give them the opportunity to expand their operations in Canada.
Unlike other immigration programs, the Entrepreneur Program does not require applicants to invest their own funds, but instead to secure a large investment from qualified investors. In addition, applicants are required to prove that their business has created employment for Canadian citizens.
The Federal Entrepreneur program offers immigrants the chance to gain conditional permanent residency in Canada, conditional on creating at least one job in three years. To qualify for this program, an applicant must have two years of experience in the business field and be willing to commit to owning a qualifying business in Canada for at least a year after their arrival in the country.
Aside from the Entrepreneur Program, there are a number of other programs available to assist foreign entrepreneurs settle in a province. There is the Rural Development program, which helps to grow microentrepreneurs in rural communities. Another is the Business Entrepreneur Visa, which requires applicants to acquire an angel investment, and manage a business for at least two years.
Federal Startup Visa
A federal startup visa is a program for entrepreneurs who have an innovative idea for a business. It has been endorsed by the Canadian government to encourage foreign talent to invest in the country.
To qualify for a start up visa, applicants must demonstrate a good idea, proof of support from an organization and enough money to support themselves and their dependents. These requirements vary depending on the size of the applicant’s family.
The Canadian government has been actively testing new approaches to attract more business immigrants. Their Start Up Business Class, or SBC, provides a direct pathway to permanent residence.
It is designed to help entrepreneurs start a successful business in Canada and gain the financial security they need. Applicants who successfully complete the program are granted permanent residency.
Unlike other programs that take years to process, startup visa applications are processed in as little as 12 to 16 months. In addition, a number of designated organizations are available to help entrepreneurs get started.
Quebec Entrepreneur Program
The Quebec Entrepreneur Program offers foreign nationals a visa to move to and run a business in Canada’s province of Quebec. There are two different streams available, each of which has its own eligibility requirements.
Stream One is for applicants who are setting up a new business in Quebec with help from an incubator or business accelerator. Applicants must also demonstrate that they are able to contribute certain amount of funds to the start-up of their business project.
Stream Two is for applicants who are managing and owning a qualifying Canadian business in Quebec. These candidates must have a minimum of 25 percent ownership of the enterprise. They are awarded points for education, age, language proficiency, and training.
A candidate must have a secondary school general diploma or equivalent. Applicants must have a valid security deposit with a financial institution in Quebec, which is used to secure the startup of their business.
Applicants must submit a business plan to the Quebec government to demonstrate the feasibility of the business and the viability of the project in the province. The plan must include details of the marketing strategy and projected revenues and expenses.
Provincial Nominee Programs for Entrepreneurs
If you are an entrepreneur, you can apply to get a Permanent Residence Visa (PR) in Canada. This is possible through the Provincial Nominee Programs. There are many programs in the country, but the Province of British Columbia has a special entrepreneur stream.
These programs are designed for entrepreneurs who want to move to Canada. The provinces have their own selection criteria. Some of the requirements include being at least 21 years old, a good business plan, and a high level of business management experience.
In order to qualify for the Saskatchewan Entrepreneur stream, you must have at least three years of work experience, a significant financial net worth, and a high level of business management skill. You must also be able to operate a business for at least six months in Saskatchewan.