Canada always strives to develop international business partnerships and welcomes business professionals to settle and start successful commercial operations here. This brings new opportunities for Canadians by establishing new businesses and creating jobs, as well as forging new export and import ties internationally.
Globalization of the world’s economy makes it essential to build and strengthen international commercial ties to stay on top of international economic trends. With favourable legislation, and a clear and easy-to-comply-with taxation system, Canada attracts business-minded individuals from all over the world to settle and invest in our economy.
The need for building businesses and developing new economic ties has been recognized by the government, and as a result, the Business Immigration Program has been enjoying special focus and attention from the IRCC, with the aim of facilitating the process. The Business Immigration Program exists both as a federal immigration program and Provincial Nominee program (link over to OINP business section), depending on where the interested party is planning to settle and operate.
Immigrant Investor Program
The Immigrant Investor Program aims to attract experienced business investors to settle in Canada and create long-term opportunities in job creation and developing businesses. To qualify for the program the potential candidates must prove that they:
- Have the required business experience
- Show a net worth of $1,600,000 CAD gained legally
- Invest $800,000 CAD
The full amount of the investment will be returned to you in full without interest, within the 5-year term. The funds will be used for 5 years by the IRCC to develop the local economy and create jobs both on the provincial and federal level.
Start-up Visa Program
Start-up businesses have been an important part of the Canadian economy for over a decade. Whether they develop into a multinational corporation or continue to operate as local mid-sized business, they are considered to be important in overall Canadian economic growth, helping to turn innovative ideas and new technologies into profitable enterprises and creating employment opportunities for new talent.
The Start-up Visa program is open to immigrant entrepreneurs who can demonstrate potential to build a business based on an innovative idea, or using cutting-edge technology in Canada.
In order to apply for the Start-up Visa Program, the business must meet the following requirements:
- Be based on an innovative idea or technology
- Have confirmed intention to invest in, from a third party, the amount of $75,000 CAD
- Confirmed investment intent of at least $200,000 CAD from a venture capital fund
- Confirmed acceptance by a designated business incubator
Self-employed Persons Program
The self-employed labour sector is a rapidly growing segment of the Canadian labour market. It becomes increasingly popular as it offers a certain flexibility and contract opportunities with multiple business partners and employers allowing the self-employed workforce to control income and work time.
The IRCC recognizes the importance of the self-employed workforce for the labour market in Canada. To be able to qualify as a self-employed person, the candidate will have to demonstrate relevant skills, as well as the ability to support themselves and their dependents with their self-employed income (farmer, athlete, artisan, graphic designer, IT specialist).