Business Migration to Canada
As a migration destination, Canada has always been close to the summit of countries migrants prefer moving to. Even during the pandemic, interest in Canadian immigration has continued its upward trajectory, and in its latest Immigration Levels Plan, Canada announced that it would welcome more than 1.2 million migrants to the country by 2023, with more than 400,000 migrants being allowed entry to Canada every year. Such lofty immigration plans are rarely seen or heard of, and it highlights not only how popular Canada is among migration candidates but also how welcoming and friendly the country is towards migrants.
As a result, Canada has become a dream migration destination for people belonging to all areas of specialty. From being home to some of the top universities in the world to being the birthplace of globally renowned brands such as multinational fast-food chain Tim Hortons, tech giants Blackberry, and Cirque du Soleil – one of the most famous entertainment companies in the world – Canada is a land of opportunities for students and skilled migrants alike. Yet despite all these migration branches, it is business migration to Canada that stands out the most.
What is business migration to Canada?
Business migration to Canada is one of Canada’s most popular immigration programs, pursued by business people from all over the world. From talented individuals with a keen business mind and innovative business ideas to investors and entrepreneurs looking to invest in or establish a business in Canada – businessmen and businesswomen from all over the globe are attracted by the prospect of business migration to Canada.
Business migration opportunities in Canada
One key reason business migration to Canada is so popular among investors, entrepreneurs, and business people is that the country is full of opportunities for business migrants. Canada is a vast country and has a number of highly developed cities that are home to numerous large firms and plenty of small and medium enterprises, all of which propose lucrative investment and entrepreneurial opportunities for successful business people pondering business migration to Canada. In addition, individuals with innovative business ideas are held in high esteem and are always welcomed to apply for business migration to Canada.
Visas and pathways for business migration to Canada
Canada’s Federal Government has a number of immigration pathways to facilitate permanent business migration to Canada. Some of Canada’s most popular business immigration pathways include the Quebec Immigrant Investor Program, Quebec Entrepreneur Program, Quebec Self-Employed Program, Federal Immigrant Investor Venture Capital Pilot Program and the Federal Start-Up Visa Program. Moreover, Canada also has a number of Provincial Nominee Programs (PNPs) which allows candidates for business migration to Canada to travel to the country as permanent residents.
The Quebec Entrepreneur Program and the Quebec Self-Employed Program are designed to attract business people with mid-range personal net worth to move to Canada as business migrants. Of these two programs, the Quebec Entrepreneur Program is for individuals who possess the skills and experience to operate a business in Quebec. Successful applicants of this program are granted a permanent business visa, making them triumphant in their pursuit of business migration to Canada.
The Quebec Self-Employed Program, while having the same benefits as the previous program, has a slightly different set of requirements. Individuals looking to apply for business migration to Canada under this program are required to have a personal net worth of $100,000, have sufficient funds to support themselves and their family in Canada, and have two years of experience in the occupation they intend to continue in Canada. Moreover, applicants must provide a start-up deposit of at least $50,000 if their intended destination is Montreal and $25,000 if their destination is outside Montreal.
Other Federal immigration pathways for business migration to Canada include programs for Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, the Prince Edward Islands and Saskatchewan, among others.
For investors interested in business migration to Canada, the investor programs are the way to go. Canada’s investor programs are for high-net-worth individuals who wish to make a passive investment with no obligation to establish a business in the country. For example, the Federal Immigrant Investor Venture Capital Program requires applicants to have a personal net worth of $10 million, which must have been lawfully acquired for business or investment activities. Applicants under this program are also required to invest at least $2 million into a VC fund approved by the government for a minimum period of 15 years. Successful applicants for this pathway to business migration to Canada are granted permanent residency status in the country, along with their family members.
In addition to the opportunities in metropolitan Canada, applicants for business migration to Canada also have other avenues to book their ticket to the Great White North. These avenues consist of the Provincial Nominee Programs (PNPs), which are region-specific immigration programs that grant permanent residency in Canada to business migrants who move to a specific Canadian province or territory.
Canada also has a reputable Start-Up Visa Program which welcomes immigrant entrepreneurs and links them with opportunities in Canada’s private sector to establish businesses that have the potential to scale internationally. Recipients of this visa also move to Canada as permanent residents.
While some Federal programs for business migration to Canada remain paused due to travel restrictions, application intake is expected to be reopened once border closures are lifted.
Business migration to Canada requirements
While each business immigration program has its own set of financial requirements, some general requirements are common for individuals looking to apply for business migration to Canada. For instance, in most cases, investors and entrepreneurs must create a full-time job for at least one Canadian permanent resident or citizen. Moreover, applicants should meet the threshold score of level 4 of the Canadian Language Benchmark – Canada’s mandatory language test. Meeting such specific requirements are necessary for fulfilling the conditions for permanent business migration to Canada.
Benefits of business migration to Canada
Applicants who successfully obtain visas for business migration to Canada are granted permanent residency and can sponsor their spouse and children to join them in the country. By being Canadian permanent residents, business migrants and their loved ones can live and work anywhere in the country, get access to Canada’s renowned universal healthcare and social services, apply for Canadian citizenship and obtain a Canadian passport, and become a part of the Canadian way of life, which is widely regarded as one of the best of all countries in the world!
With international travel gradually resuming, it can be expected that global migration will soon start picking up pace again. Hence, interested investors, entrepreneurs and business people would be well advised to begin working towards business migration to Canada, to ensure a better life and future for their loved ones.