Canada is renowned for its welcoming stance towards immigrants, especially those who can contribute to its economic growth. One of the ways it does this is through the Provincial Nominee Program (PNP) and the Federal Start-Up Visa Program. These programs are designed to attract entrepreneurs and investors to the country. Let's delve into the details of these programs across various provinces and the federal level.
Federal Start-Up Visa Program
The Federal Start-Up Visa Program is designed for immigrant entrepreneurs with the skills and potential to build businesses in Canada that:
Can create jobs for Canadians
Can compete on a global scale
Have a qualifying business
Get a letter of support from a designated organization
Meet the language requirements
Bring enough money to settle
British Columbia - BC PNP Entrepreneur Immigration
This program is for experienced entrepreneurs who want to establish and operate a new business or buy an existing business in British Columbia.
Personal net worth of at least CAD 600,000
Business and/or management experience
Establish a new business or purchase and improve an existing business
Create at least one new job for a Canadian citizen or permanent resident
The BC Entrepreneurial Immigration Program: Regional Pilot is a relatively new stream introduced to attract investors and top-notch entrepreneurs to the province.
The program aims to bring more capital to the province by providing an excellent business infrastructure to business owners and interested entrepreneurs from foreign countries.
The program has been operational since early 2019.
It aims to attract investors who intend to open new businesses across smaller communities in British Columbia.
The Regional Pilot Program is initially a 2-year pilot scheme.
Applicants should have a minimum net worth of $300,000 in Canadian currency.
They must be able to invest a minimum of $100,000 in Canadian currency as business investments in the specific community under the Regional Pilot.
Applicants should have a minimum ownership of 51% in the business they start.
They must demonstrate proficiency in English or French language skills.
The new business should create at least one job for a Canadian citizen or a permanent resident.
Applicants should be able to conduct an exploratory visit to study the specific community of the province.
The community should have a population of no more than 75,000 people.
It must be located beyond a 30 km diameter of a municipal town or region with a population of more than 75,000 people.
The community should have the necessary resources and infrastructure to support the entrepreneurial plans of the investor.
I hope this provides a comprehensive overview of the Alberta Rural Entrepreneur Stream and the BC PNP Regional Pilot Program for entrepreneurs looking to immigrate to Canada.
Alberta Entrepreneur Stream:
The Rural Entrepreneur Stream is an economic immigration program designed for entrepreneurs who wish to start a business or buy an existing business in a rural Alberta community.
An entrepreneur is defined as someone who establishes a business with the aim of making a profit.
The program defines rural Alberta communities as those with a population of less than 100,000, based on the most recent census from Statistics Canada.
The community must be outside of the Calgary and Edmonton Census Metropolitan Area.
There are 7 steps in the Rural Entrepreneur Stream application process.
Candidates must read the AAIP terms and conditions before applying.
The AAIP is not obligated to assess/process any applications submitted.
Temporary processing measures are in place for Ukrainian nationals who apply to the program due to the crisis in Ukraine.
Alberta Farmer Stream
Alberta's program is tailored for farmers who have the financial resources and farm management experience to purchase and establish a farm in Alberta.
Prove farm management skills
Provide a detailed business plan
Show evidence of financial investment from a Canadian financial institution for the proposed farming enterprise
Have a minimum net worth of CAD 500,000 or confirmation of access to similar funds from other sources
Manitoba - MPNP Business Investor Stream
Manitoba's program targets experienced business owners or senior business managers who want to live in Manitoba.
Minimum personal net worth of CAD 500,000
Minimum investment of CAD 250,000 for businesses in the Manitoba Capital Region or CAD 150,000 if the business is outside of this region
Business ownership or senior management experience of at least three years
Score a minimum of 60 points in the Adaptability Assessment Matrix
Ontario - OINP Entrepreneur Stream
Ontario's program is for entrepreneurs from outside of Canada who are interested in starting a new business or buying an existing business in Ontario.
Minimum net worth of CAD 800,000 if your proposed business will be in the Greater Toronto Area (GTA) or CAD 400,000 if outside the GTA
Minimum investment of CAD 600,000 if in the GTA or CAD 200,000 if outside the GTA
Create at least two full-time jobs for Canadian citizens or permanent residents
Quebec - Quebec Immigrant Investor Program
Quebec's program is for experienced business people who want to invest in the Quebec economy.
Have a net worth of at least CAD 2 million
Agree to make a five-year term investment of CAD 1.2 million with Investment Québec
Have at least two years of management experience in the past five years
Nova Scotia - NSNP Entrepreneur Stream
Nova Scotia's program is for experienced business owners or senior business managers who want to live in Nova Scotia.
Minimum net worth of CAD 600,000
Minimum investment of CAD 150,000 to establish or purchase a business in Nova Scotia
At least three years of business ownership experience or more than five years of experience in a senior business management role
This guide provides an overview of the PNP investor and entrepreneur programs across various provinces in Canada. Each province has its unique requirements tailored to its economic needs.
New Brunswick – NBPNP Entrepreneurial Stream
New Brunswick's program is for experienced entrepreneurs who are ready to establish, operate, and actively manage a business in the province.
Minimum net worth of CAD 600,000 and a minimum investment of CAD 250,000.
Prince Edward Island – PEI PNP Work Permit Stream
PEI's program is for foreign nationals with business ownership or extensive management experience.
Minimum net worth of CAD 600,000 and a minimum investment of CAD 150,000 in a local business.
Yukon Business Nominee Program (YBNP)
Foreign entrepreneurs can apply to run their businesses in Yukon through the YBNP. Here are the key eligibility requirements:
Achieve a score of at least 65 points on the assessment grid.
Have a minimum of 3 years of entrepreneurial or business management experience.
Have a net worth of at least $500,000 CAD, legally obtained.
Intend to permanently reside in Yukon.
Show an investment of at least $300,000 in capital investments for the business in the first 2 years[^3^].
The business should be a new venture or a purchase of an existing Yukon business.
The business should not be a passive investment.
The business should belong to strategic sectors such as Information technology, Manufacturing, Tourism, Energy, Mining, Agriculture, Cultural industries, etc
Saskatchewan Immigrant Nominee Program (SINP) - Entrepreneur Category
The Saskatchewan Immigrant Nominee Program (SINP) offers a pathway for foreign nationals to become permanent residents of Canada by establishing, acquiring, or partnering in a business in Saskatchewan and actively managing it.
Minimum Net Worth: Applicants must have a minimum net worth of CAD 500,000 that is verifiable.
Business Establishment in Saskatchewan: Applicants must commit to owning and actively operating an eligible business in Saskatchewan.
Investment Amount: A minimum investment of CAD 300,000 in Regina and Saskatoon or CAD 200,000 in other parts of the province.
Business Experience: A minimum of three years of relevant business management or entrepreneurial experience gained in the past ten years.
Job Creation: Create at least two employment opportunities for Canadian citizens or permanent residents if the business is located in Regina or Saskatoon.
International Graduate Entrepreneur Category:
This category is specifically designed for international students graduating from a Saskatchewan institution who wish to establish themselves as entrepreneurs in the province.
Residency & Age: Must reside in Saskatchewan and be at least 21 years of age.
Educational Qualification: Completion of a two-year, full-time post-secondary degree or diploma from a Saskatchewan institution.
Work Permit: A valid Post-Graduate Work Permit.
Language Proficiency: A minimum Canadian Language Benchmark (CLB) level of 7.
The application process for the International Graduate Entrepreneur Category involves four steps:
Expression of Interest (EOI) Submission: Interested candidates can express their interest in seeking nomination for Permanent Residence.
Invitation to Apply: Candidates are selected based on their EOI score. Those with the highest scores are prioritized.
Business Establishment: Approved applicants must operate their proposed business.
Nomination: After fulfilling the conditions of the Business Performance Agreement (BPA), candidates can apply for SINP nomination for permanent residency.
If you're an entrepreneur or investor looking to make Canada your new home, it's essential to research each program thoroughly and consider seeking professional advice to determine the best fit for your circumstances.