How Much Do I Need To Invest To Immigrate As A Business To Canada
The amount of investment required is dependent on the program you choose to proceed with. Provincial nominee routes have strict minimum requirements for investment and net-worth. The Express Entry route described above does not have minimum requirements with respect to investment and net worth, there are also no strict conditions to meet, and the process is generally more streamlined.
How do I become a Canadian citizen as a Business Immigrant?
The general rules for becoming a Canadian citizen are quite straightforward. The applicant must be a Canadian permanent resident who has lived in Canada for at least 3 out of the 5 years prior to the application being submitted, have filed taxes in Canada, and passed a citizenship test, and prove CLB level 4 (or higher) proficiency in either official language. This can be done by way of language test results or proof of completion of studies in Canada.
What is the required state of operations of the business at the time of the application?
With the Express Entry pathway, sufficient steps should be taken to get the business either operational or ready to launch at the work permit stage.
In most cases, the business needs to be registered, commercial space should be secured (sometimes our clients start with virtual office space – and transition to an actual lease upon work permit approval), and a detailed business plan prepared outlining the company’s business goals and objectives should be submitted.
On LMIAs the general test for operations is whether the business is currently providing a “good or a service”.
The PNP route requires compliance with a performance agreement.
What percentage of the business should the business immigrant own?
This depends on the program and varies widely. For example, the C11 Significant Benefit pathway requires that the main applicant have a majority share (50.1%+) while most PNP Business Investor programs allow for one-third ownership. The Start-Up Visa program requirements vary according to the number of applicants.
Can I use financing to support my Canadian business?
Personal investment in the business is required. Most programs require a demonstration of existing funds and investment.
Can I include my spouse and children in my business immigration pathway?
Yes, you can. Spouses and dependent children under the age of 22 of the business owner applicant can be included in either an application for a work permit and/or for permanent residence. A spouse is eligible for an open work permit. Children under the age of 18 are generally issued study permits. Children over the age of 18 receive visitor status unless a separate study permit application is submitted.