Business Immigration programs offer permanent residence for immigrants willing to set up businesses in Canada or invest a substantial ammount in Canada.
Self Employed Class
The Self-Employed Class is designed both at the federal and provincial levels. Applicants in this category must demonstrate relevant experience within the last five years before the date of the application. Relevant experience means:
For at least 2 years within the5 years before the application is submitted;
Self-employment in cultural activities or athletics; or
Participation, at the world-class level, in cultural activities or athletics; or
Farm management experience.
Under this category, there are no conditions imposed on the immigrant. But, all applicants must have the experience as stated above and have the intention and ability to:
Establish a business that will create at least an employment opportunity for themselves and that will make a significant contribution to cultural activities or athletics in Canada; or
Purchase and manage a farm in Canada.
Start Up Visa
The Start-Up Visa program is unique to Canada and has been implemented to encourage foreign entrepreneurs to come to Canada, create new jobs and stimulate economic growth.
A program such as the Start-Up Visa expects a limited number of applicants due to its narrow focus, but the focus is on quality not quantity and achieving a track record of success.
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To be a member of the start-up business class, a foreign national must:
Have obtained a written commitment for a total investment of at least $75,000 by one or more designated angel investor groups.
Obtain a written commitment for a total investment of at least $200,000 by one or more designated venture capital funds,
Have the commitments signed by a person with proper authority.
Have attained the specified level of language proficiency.
Have completed at least 1 year of high school in good standing,
Have the appropriate funds available as designated by Statistics Canada under the Statistics Act.
In cases where there is more than one applicant concerning the same business, if an applicant deemed essential to the business is refused permanent residency then the other applicants will be classified as not having met the requirements and their applications will be refused as well.
In certain scenarios, peer reviews may be required to assess the commitment. The peer review panel is not under the Minister’s control and the officer deciding whether or not the applicant meets the requirements for the visa does not necessarily need to consider the assessment.
Ontario Investor Nominee Program
Ontario Immigrant Nominee Program (OINP) has re-designed their Business stream options. They now have two streams open for business, Entrepreneur and Corporate.
Entrepreneur Stream
The Entrepreneur stream is open to foreign nationals who wish to implement a new business or buy an existing business in Ontario. Under this program, entrepreneurs have the opportunity to be nominated for permanent resident status once their business has been successfully established in Ontario.
The following are the eligibility requirements:
Experience: At least 3 years of full-time business experience (as an owner or senior manager) within the last 5 years.
Minimum Net Worth: CAD $800,000.00 – $1,500,000.00, depending on the location and type of business.
Minimum Investment: CAD $500,000.00 – $1,000,000.00, depending on the location and type of business. A minimum ownership of 33.3% is also required.
Create at least 2 full-time, permanent jobs for Canadian citizens or permanent residents and
Meet a minimum language requirement of Canadian Language Benchmark (CLB) 5 or equivalent in English or French.
Be actively involved in managing the business.
Purchasing an Existing Business:
All the requirements listed above under the New Business section;
The existing business must have been in continuous operation by the same owner or group of owners for the last 5 months before you buy the business.
The purchase must completely transfer ownership from the previous owner(s) to you, your Business Partner (if applicable) and/or your third party investor(s), if applicable.
The proposed business must not have been previously owned/operated by current or former OINP business stream nominees.
You must preserve all existing permanent full-time jobs and create two (2) additional permanent full-time jobs, paid at least at the median wage for the positions. You must maintain at a minimum the current wage levels and employment terms of existing staff.
The proposed business plan must demonstrate that you intend to grow the business. Buy and hold business plans with no intent to grow the business are not permitted in the Entrepreneur Stream, and
Make an exploratory visit to Ontario in the 12 months prior to submitting an application.
Corporate Stream
The OINP Corporate stream assists established international corporations to expand into Ontario or buy an existing business. Key corporation staff is eligible to apply for nomination and then permanent residence under this stream
The following are the eligibility requirements for this stream:
Business must have been established outside Canada for at least 3 years before applying.
Corporations must invest a minimum of $5 million in a new or existing business.
Key staff seeking nomination must be currently employed with the corporation and be essential to the operation of the business in Ontario. They must also meet a minimum CLB 5 level or equivalent in either English or French.
Creation of 5 full-time, permanent positions for Canadian citizens or permanent residents per nominee.
Key staff nominees will have 2 years to demonstrate a minimum language requirement prior to permanent residence nomination.
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