Provincial Business Programs
Canada encourages dynamic entrepreneurs to settle in Canada. There are several programs for entrepreneurs offered by various provinces. Each province has a specific requirement and selection criteria based on the entrepreneur’s education, work experience, skill type, occupation code, net worth etc. Any type of misrepresentation in an application can bar the applicant for coming to Canada for five years. The amount of investment and net worth varies under different entrepreneurial immigration programs. Some provinces allow purchase of existing businesses whereas others require the business immigrants to invest in specific areas as per the province's requirements. Following are some of the provincial programs that can be considered as per individual entrepreneur's profiles for immigrating to Canada:
Alberta’s Foreign Graduate
Start-Up Visa Stream
This program is for eligible foreign educated graduates outside Canada who intend to set-up their start-up in Alberta. The applicant will require a letter of recommendation from a designated organization that will review the start-up business proposal on specific criteria. Applicants need to have graduated within the past 2 years from a recognized university with an education equivalent to a Canadian degree. They will have to get their educational credentials assessed from a designated organization and also meet other pre-requisites of this program.
Alberta’s International Graduate Entrepreneur Immigration Stream
This program enables the province to nominate qualified international graduate students from Alberta post-secondary institutions for a permanent residence if they are looking at operating a business in Alberta. Besides the educational requirements, applicants need to have a minimum Canadian language Benchmark level 7 for each skill in English or French. Applicants can either set-up a new business or buy an existing business, provided they have a minimum 34% share in ownership. A minimum work experience of six months is required inside or outside Canada.
Self-employed Farmer Stream
of Alberta
The Self-employed Farmer stream of Alberta requires interested candidates to have experience in Farm management. They must be in a capacity to make an investment of minimum CDN $500,000 in a primary production farming business in Alberta. They would also need to demonstrate a net worth of similar amount or more. The applicants will be required to document their investment plan into a business proposition that will be reviewed by Alberta Agriculture and Forestry to ensure the proposed farming plan aligns with Alberta's farming industry requirements.
BC PNP Entrepreneur Immigration Strategic Projects
It is a category for entrepreneurs or companies who intend to invest in B.C. and have found strategic investment opportunities that could facilitate expansion of their current business. Companies can transfer their key staff to B.C. on a permanent basis. To be eligible under this program, companies must have a good financial standing and must be able to contribute a significant economic benefit to the province. The key staff members also need to be eligible & meet specific requirements. Purchase of an existing business or setting up a new one is allowed.
British Columbia Entrepreneur Immigration Regional Pilot
Under this program, participation of the communities to invite and nominate applicants is essential. It focusses on inviting global entrepreneurs to set-up businesses in regional communities & contribute to their economic development. Each community could have their own requirements and would accept applicants specializing in those occupation codes. After a time-frame of 12 months from the issue of a work-permit, a business report needs to be submitted for the established business and accordingly a nomination may be issued to apply for permanent residence.
Saskatchewan Entrepreneur category
This category invites applicants to purchase existing businesses or set-up new businesses contributing to the economy of the province. Businesses must meet the definition of a "permanent establishment" as per subsection 400(2) of the Canadian Income Tax Regulations, 1985 and must be ‘for-profit’ ventures. They must also meet the legal requirements of the community they will be operating in and must not be an ‘ineligible’ business. For existing businesses, they need to be profitably operational for at least 2 years and in operations for at least 3 years.
Manitoba Entrepreneur program
It is for applicants with a minimum of three years of full time work experience in the past five years either as an active business owner or as a senior manager. Business owners score higher points than senior managers. A min. 33 1/3% ownership in a business is required to qualify for points as a business owner. A language proficiency of minimum CLB 5 is required. There is no age limit but points are awarded for applicants between 25 to 49 yrs. Minimum investment of CAD$ 150,000 for outside Manitoba Capital region and minimum CAD$ 250,000 inside Manitoba capital region is required.
Manitoba Farm Investor Pathway
This program has replaced the previous Farm Strategic Recruitment Initiative and focusses on applicants who have experience in farm business with sufficient investment capital to establish and operate a farm in rural Manitoba. It needs a minimum of three years of farm management experience and an investment of at least CAD$ 300,000. A farm business plan is required and also a visit to Manitoba to research about the business. A minimum net worth of CAD$ 500,000 is required for the applicant to qualify under this program and a third party financial verification report will also be required.
OINP Entrepreneur stream
Entrepreneur stream of Ontario Immigrant Nominee Program is for entrepreneurs from outside Canada who intend to start a new business or buy an existing business in Ontario with a min. investment of CAD$ 600,000 in the Greater Toronto Area & CAD$ 200,000 outside GTA or if in the information technology sector. They need to have at least 2 out of 5 years’ experience & a min. of 33% equity in the business. They can come on a temporary work permit to set-up their business in Ontario and will have 20 months from the time they arrive to implement the business plan and submit a final report to the province.
