Canada Entrepreneur Visa is a globally renowned permanent residency program for experienced entrepreneurs, business owners, and business professionals who can purchase or set up a business in Canada. Applicants must meet the minimum investment and net-worth requirement before purchasing or establishing the business in Canada. Upon selection, applicants will receive unconditional permanent residency with access to social benefits for the entire family.

 

Canada is the hub of a progressive startup ecosystem, with the city of Toronto as its epicenter. Along with that, Vancouver, Montreal, Edmonton, Halifax, and Regina are becoming business hotspots. Many startups and businesses are moving to these cities, creating more opportunities for the residents and workforce. The country presents ample business opportunities, a qualified workforce, political stability, tax incentives, business-friendly policies, advanced economy, and free healthcare and education.

• Similar to Startup Visa Canada, applicants will get direct, unconditional permanent residency visa along with PR Visa benefits
• You can choose any provincial Entrepreneur program as per the requirements and your financial appetite
• According to World Bank, Canada is one of the best places for Ease of Doing business and starting a new business
• It is easy to start a business in Canada, which takes less than a month to complete all the processes accompanied by the business-friendly policies by the government
• You can gain access the unconditional PR benefits such as free education and medical benefits, insurance, Child Benefit, Student Loans, Maternity and parental benefits, and Leave and Pension plans.
• Become eligible for Canadian citizenship/passport by meeting the physical residency in the country for a minimum of 1095 days in 5 years
• Gain access to visa-free travel to more than 150 countries under a Canadian passport

Each province runs its own entrepreneur visa Canada to invite experienced entrepreneurs into their provinces.  Each province has its own set of requirements. Below are the details:

• Ontario Immigrant Nominee Program (Entrepreneur Stream) – Investment for business in GTA CAD 600,000 and businesses Outside GTA CAD 200,000. Net-worth for business in GTA CAD 800,000 and for businesses Outside GTA CAD 400,000
• British Columbia Entrepreneur Immigration (Base category) – Investment CAD 200,000 and Net-worth CAD 600,000
• Quebec Entrepreneur Program – Investment CAD 300,000 for business in Montreal and CAD 200,000 for businesses outside Montreal. Net-worth of CAD 900,000
• British Columbia Regional Pilot Program – Investment CAD 100,000 in the BC Regional Areas and Net Worth CAD 300,000
• Saskatchewan Entrepreneur Stream – Investment CAD 300,000 for business in Regina or Saskatoon and CAD 200,000 for businesses other communities. Net-worth of CAD 500,000
• Manitoba Entrepreneur Pathway – Investment CAD 250,000 for business in Capital and CAD 150,000 for businesses outside the capital. Net-worth of CAD 500,000
• Nova Scotia Entrepreneur Stream – Investment CAD 150,000 and Net-worth CAD 600,000
• Prince Edward Island (Business Impact Category) – Investment CAD 150,000 and Net-worth CAD 600,000

The entrepreneur programs under the Canada Business Visa are run by Canadian provinces with different requirements. Below are the common requirements considered by the provinces:

• Must have net worth and funds from minimum CAD 300,000 to maximum CAD 800,000
• Must make an Investment for Canadian business from minimum CAD 100,000 to maximum CAD 600,000
• Draft a detailed business plan which will outline business concept, marketing plan, staffing, products & offerings, finance management, and employment generation for the residents
• Must hold business ownership or business management experience from 2 to 5 years
• Meet minimum language proficiency level of CLB 5 in each component (IELTS – Reading 4.0, Writing 5.0, Listening 5.0, and Speaking 5.0).
• Must demonstrate active involvement and day-to-day management of the business

• Step 1 – Collect and arrange all the relevant documents and application forms as per the checklist
• Step 2 – Submit Expression of Interest (EOI) for the Canada Entrepreneur Visa Application by uploading all the relevant documents
• Step 3 – Agree to all the declarations and submit the application fee
• Step 4 – Attend an interview conducted by the provincial authorities upon selection
• Step 5 – Sign a Performance Agreement with the province and demonstrate your commitment to invest in the business and create jobs
• Step 6 – Receive a temporary work permit support letter to apply for the temporary work permit from the IRCC
• Step 7 – Get a temporary work permit and move to Canada to establish your business in the chosen province
• Step 8 – After establishing and running the business, apply for the Canadian Permanent Residency

• For business owners – Business Registration License, Reference Letters, Registration with taxation authorities, Proof of Shareholding, Business income tax returns, Financial statements, Articles of incorporation under Canada Business Visa
• For senior managers – Employment Reference Letters, employment contracts, Pay Slips
• Net worth verification report
• Exploratory Visit Document (if you are purchasing an existing business)
• Business plan draft
• Proof of business ownership
• T4 statements
• Education Credentials
• Language Proficiency Tests Results
• Photographs, Passport, Family member’s passport
• Canadian Standard Resume

According to the recent trends, the Entrepreneur Visa Canada program processing time is around 12 to 15 months for all the PNP Business Immigration programs. Below are the visa fees for each program:

• Ontario PNP – CAD 3500
• British Columbia PNP – CAD 300 – Registration, CAD 3500
• Saskatchewan – CAD 2500
• Manitoba PNP – CAD 2500
• Nova Scotia PNP – No Application Fee
• Prince Edward Island PNP – CAD 10,000

 

Unbox Immigration is known for having extraordinary knowledge and profound dexterity in processing the Canada Entrepreneur Visa applications. With the presence of an authorized RCIC consultant, the brand can spearhead Global business immigration with a wide array of quality services.