Canada possesses unique business immigration plans whereby international business persons can obtain permanent residency. This plan, described as the Investor Immigration Program, is very similar to the golden visas and citizenship by investment programs; hence, business immigration programs in Canada need rigorous investment, ultimately permitting you to acquire citizenship in exchange for investment. Using this business immigration, business proprietors, investors, and entrepreneurs can evolve into Canadian nationals by investing in businesses in Canada.
One may ask, “Is it feasible to acquire Canadian permanent residence by investment?”
The response to this question is yes! Canada provides investment visa programs for international business persons, business proprietors, and investors, permitting them to acquire Canada’s permanent residence by investment. The strong economy in Canada makes it a unique terminal for investors and businesspeople. Hence, no specific immigration route permits people to acquire Canadian PR via investment. Different Canada Investment Visa programs need enthusiastic investment in an enterprise to obtain permanent residence in Canada.
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Business Immigration in Canada
Business immigration in Canada is a field of relocation law that provides for international business proprietors, start-ups, high-net-worth persons, and investors. International persons and their households can acquire permanent residency in Canada by developing multinational enterprises in Canada, investing in an already existing business, or beginning a new business.
To become a citizen or permanent resident in Canada, international business persons and investors must first acquire permanent residence status in Canada. Becoming a citizen of Canada can only be possible after they have physically stayed 36 months in Canada. The procedures taken to acquire citizenship in Canada via business proprietorship include:
- Invest in purchasing or setting up a business in Canada
- Make an application for a work permit
- Relocate to Canada to run your business
- Make an application for permanent residence in Canada
- Make an application for Canadian citizenship
We will explain these stages for business relocation and the ways to acquire business permanent residence status in Canada via Investment and finally become a citizen of Canada.
Invest in Purchasing or Setting-Up a Business in Canada
There are four methods for international investors to invest in businesses in Canada, these include:
Developing a business from the start:
- Cost = low as $50,000+
- Risk = high risk of profit prospects
- Time to operate before PR application = a minimum of one year
- Difficulty to operate = difficult
- Requirements for permanent residence application = functioning firm in Canada; commercial office, a minimum of one Canadian worker, and one year of operation.
Purchasing a functional business
- Cost = High (owner-operator enterprises) $50,000 to $250,000, (profitable businesses) $250,000 and more.
- Risk = moderate risk of profit prospects
- Time to operate before PR application = no minimum condition
- Difficulty to operate = moderate
- Requirements for PR application = ownership of 51 percent of shares, active firm, a minimum of 1 Canadian worker
Purchase shares in a business
- Cost = moderate to average from $200,000 to $300,000
- Risk = moderate
- Time to operate before PR application = no minimum condition
- Difficulty to operate = simple
- Requirements for PR application = firm existed for at least one year, is presently active, and has enough funds.
Purchase a franchise
- Cost = moderate ($100,000+
- Risk = low
- Time to operate before PR application = no minimum condition
- Difficulty to operate = simple
- Requirement for PR application = active firm, a minimum of 1 Canadian worker
In common, your initial investment sum to purchase or develop a business in Canada can vary between $100,000 to $350,000, but relying on your private and monetary objectives can be higher.
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Make an Application for a Work Permit
When you have developed or bought a business in Canada, you can apply for a work permit as a business immigrant. So many various work permits are obtainable according to your settings and immigration objectives; they comprise the following:
- LMIA-founded work permits: Though Owner-operator LMIAs are no longer excluded from publicity conditions, business proprietors can still apply and acquire Labor Market Impact Assessment under the general stream to operate in Canada as supervisors of their enterprises.
- Intra-company transferees: This is for entrepreneurs who already have firms in their home nations and have developed a new firm in Canada.
- Investors under free-trade consensus: It is mainly for nationals of South Korea, Mexico, Australia, Chile, Singapore, Colombia, New Zealand, the USA, Japan, Panama, the EU, and Vietnam.
- Entrepreneur work permits: This is for international citizens who plan to run a business that will produce significant advantages for Canada (C11).
- Start-up visa work permits this for entrepreneurs desiring to develop inventive or highly scalable enterprises in Canada.
- Provincial Nominee Program in Canada: This may be difficult for some international investors, but they still provide viable alternatives for work permits.
Relocate to Canada to run your business
After arrival in Canada as an international employee, you must run your business for a particular duration before changing to permanent residence. The duration of operation is based on the kind of business you possess, which is developing a new one, and your type of work permit.
Remember that your business can only be profitable with developing specific income or even being profitable. However, your business requires enough revenue to protect the functional expense and pay workers’ salaries.
Make an Application For Permanent Residence in Canada
Generally, your business is required to be active before you can make an application for PR, which implies that:
- Your business is energetically selling goods or services to real and existing clients in Canada or worldwide.
- You possess every certification and permit applicable to run the business in Canada.
- Your business possesses a physical site in Canada.
- Workers who are citizens of Canada are working for your firm.
- You are making advancements toward the performance of your business strategy.
- You are executing or planning to perform administrative or senior managerial obligations in your business to manage your firm.
When you have your business in Canada progressing, you can make an application for PR as the manager of your enterprise. You are required to satisfy extra measures to become qualified for PR, which usually comprise of the following:
- A mark of CLB 7 for your language proficiency.
- Possessing post-secondary education.
- Possessing no illegal history or severe ongoing medical problems.
