Entrepreneurs investors are welcome in Canada. At federal level, there is Start-up Visa program, and at provincial level, there are policies to attract foreign investors to invest and stay in their territory to add fuel to the economy and create new job opportunities.
There is only one passive investment available facilitating investor to become PR in Canada, it is called “Quebec Investor Program”. This program requires your past experience as a senior manager, business owner or operator and does not require the investor carry on the obligation of daily operation of the business invested. However, the program open only certain time as defined by the Quebec government.
On the other hand, most provincial nominee program sets out its own entrepreneurs immigration program at provincial level. These become a good choices to investors. It is a vital tool to the province to prompt the their economic priority. Selected entrepreneurs will come to Canada under work permits to carry on their business plan first. After approximately 12-18 months of operation, the provincial government will validate the fact of investment and job creation versus the signed performance agreement then issue the nomination letter. With such nomination, the entrepreneur is eligible to apply to the federal government and become permanent residents.
Below we illustrate Quebec Investor program and Entrepreneur investors program of BC to give you a rough idea what it entails. To inquire more details or for other PNP entrepreneur programs, please contact us.
BCPNP Entrepreneur immigration
There are three path under BCPNP entrepreneur immigration program, vary from the amount of investment and where the business is located. Effective on July 19, 2021, BCPNP suspended new applicant intake, and schedule to update early 2022.
BC Entrepreneur immigration (Base category)
To be eligible, you and your spouse must have personal net worth of at least CAD $600,000 and demonstrate your management experience with one of the following:
- At least 3 years of experience as an active business owner-manager.
- 4+ years as a senior manager.
- A combination of 1 year owner-manager plus 2 years senior manager.
You will need to:
- Make an eligible personal investment of CAD$200,000+ in a new or improve an existing business;
- Create at least one new full-time job for a Canadian citizen or permanent resident in the business;
- Active and ongoing management of the day-to- day business operations;
- Demonstrated residence in B.C.
BC Entrepreneur immigration (Regional Pilot)
This Regional Pilot program involves communities on the BCPNP list. Applicant need to seek endorsement from the designated community through proposing a business that will meet the local needs and create new job opportunity. Compared to the base category, the minimum investment significantly drop to as low as CAD$100,000. Required minimum job creation also less than the base category.
Start up visa program aims at entrepreneur immigrants who have innovative skills can compete on a world level, and will build the business in Canada. IRCC relies on the recognition from designated organization through their financial commitment to your proposed business idea. You don’t need to be rich or invest a lot, just minimum 10% of the new entity. An innovative new business may support up to 5 principal applicant and their family to become permanent resident. Principal applicant need to have CLB5 language skill plus has sufficient settlement fund for his or her family.
Quebec Investor Program
This program suspend new application to April 1, 2023