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Immigrating to Canada through Business Visa
Business immigrants are drawn to Canada for various reasons. One of the main attractions is the well-established startup ecosystem and robust capital market that support entrepreneurial individuals. However, many of our clients also consider their children's future as a significant factor. They appreciate Canada's high education standards and abundant career opportunities.
One notable advantage is the substantial savings on university and college tuition fees. For instance, domestic students at the University of Toronto's Faculty of Arts & Science currently pay just over $6,000, while international students are charged approximately ten times more at around $60,000. Over four years, this translates to savings of $216,000 per child, comparable to the overall cost of immigrating under specific business immigration programs.
Our clients also value the fact that there is no requirement for a Canadian sponsoring company or local business partner. Either spouse can be the primary applicant, and the entire family, including adult children under 22 years old (with additional options available for those over 22, such as studying as international students), can immigrate together. Visas are no longer necessary to come to Canada. Once granted permanent residency, individuals only need to spend 2 out of 5 years in Canada to maintain their status and renew their Permanent Resident Card. Furthermore, if a spouse becomes a Canadian citizen and resides abroad with the applicant, each day spent with the spouse abroad counts as a day in Canada, allowing for multiple renewals of the Permanent Resident Card. Obtaining citizenship is also relatively straightforward after accumulating three years of cumulative residency in Canada (not necessarily consecutive). Moreover, individuals can move to any part of Canada, enjoying the country's high standard of living, free healthcare, and excellent public schools. Canada is known for its stable political climate; all major political parties fully support immigration and immigrants.
Typically, individuals in their 40s, 50s, and older have point scores in the 300-range and are unlikely to be selected from the pool or receive an Invitation to Apply. At AMN Immigration, we are a team of Chartered Accountants and Regulated Canadian Immigration Consultants with extensive experience assisting business immigrants in these age groups. We understand that you do not necessarily need to have been an entrepreneur yourself, and we can guide you through the intricate details and complexities of the process.
Federal Start-Up Program
The Start-up Visa Program differs significantly from skilled worker immigration based on the points system. It does not explicitly target young professionals who have worked or studied in Canada. Instead, it looks beyond factors like age and education, requiring only a basic level of proficiency in English or French (Canadian Language Benchmark of 5). The program involves collaboration with the private sector, where a government-approved "Designated Organization" must provide a "Letter of Support." At AMN Immigration, we carefully analyze your background and work closely with you to submit a genuine application. We have established strong professional relationships with these government-approved private organizations, and our business partners assist in preparing the pitch to the Designated Organization.
The Start-up Visa Program allows up to 5 applicants to form a start-up, and ongoing support and advice from AMN Immigration is crucial after the application is submitted to ensure success. Section 89 of the Immigration and Refugee Protection Regulations necessitates demonstrating that the purpose of immigrating is to engage in the described business activity rather than simply desiring to move to Canada.
A significant advantage of the Start-up Visa Program is that once immigration is granted, there are no conditions attached to permanent residence. This means that permanent residency is independent of hiring a specific number of local Canadians or proving the business's success. The government acknowledges that most start-ups face challenges and may fail, so once you become a Permanent Resident, there are no further check-ins. Due to this, the government expects a well-prepared application from the start.
Provincial Nominee Program for Entrepreneurs
Canada comprises various provinces and territories, each operating its own Provincial Nominee Program (PNP).
Unlike the Start-up Visa, the Ontario PNP Entrepreneur Stream has specific requirements. It mandates 24 months of business experience as an owner or senior manager within the past 60 months and a net worth of $800,000 (or $400,000 if outside the Greater Toronto Area). Additionally, an investment of $600,000 (or $200,000 if outside the Greater Toronto Area) is required, with control of one-third of the business equity. Active involvement in the business and creating two full-time jobs for Canadians or Permanent Residents are also necessary. If you want to purchase an existing business, please get in touch with us for additional requirements.
Logistically, we assist you in submitting an Expression of Interest, followed by placement in a pool of applicants after a thorough evaluation. We collaborate with reputable business partners in this process.
Business Immigrations Frequently Asked Questions
For the Ontario PNP Entrepreneur Stream, a minimum net worth of $600,000 (or $200,000 if outside the Greater Toronto Area) and control of one-third of the business equity is required.
In contrast, the Ontario PNP Entrepreneur Stream does require you to demonstrate active involvement in the business operated in Ontario and the creation of two full-time jobs for Canadians or Permanent Residents. Therefore, if you choose this stream, you must stay in Ontario.