- August 27, 2020
- Posted by: Editor
- Category: Law
Foreign citizens interested in immigration to Canada as entrepreneurs have several options when it comes to dedicated programs. Obtaining a Canada investor visa depends on several factors and on the regions the applicant wants to start a business in.
If you are planning to relocate to Canada with the purpose of starting a business, you can rely on our immigration lawyers who can guide you on how to obtain an investor visa.
The main options for obtaining a Canada investor visa
Over time, Canada has created various programs allowing foreign investors to move here. However, the government here keeps up with the economic development and ends schemes that no longer represent its interests but creates new and modern ones to respond to the needs of the local market and business community.
At the moment, there are two ways of obtaining an investor visa for Canada. The first one is the Startup Visa Scheme and the second one is the Provincial Nominee Program.
Our immigration lawyer in Canada can help foreign citizens interested in moving here in order to start a company choose an appropriate program.
We can also help them apply for Canadian citizenship.
The Startup Visa Scheme in Canada
The Startup Visa is one of the fastest routes to a Canada investor visa for foreign citizens and it implies meeting a few requirements and respecting the application procedure. It is worth noting that the Startup Visa program is created to accommodate up to 5 shareholders in the designated company.
This program requires an applicant to:
- set up a qualifying business (a company that is registered under the regulations imposed by the Canadian authorities);
- speak English, French or both languages at a proficient level;
- obtain a support letter from a designated organization (group or investment fund which meets the startup support criteria);
- meet the self-sustenance requirements to settle in Canada (the necessary amount of money depends on the number of family members relocating here).
One of the greatest advantages of the Canada investor visa is that the applicant can immigrate here with the family. It should also be noted that when financial requirements for those moving with family members under this program changes every year, which is why it is important to ask for updated information before applying for the visa. You can ask for more information on this aspect from our immigration lawyer in Canada.
The StartUp Visa is also a way of obtaining a residence permit in Canada.
You can read about how to obtain a Canada investor visa in the infographic below:
Company qualifying conditions for the Startup Visa Scheme in Canada
As mentioned above, those planning to apply for a Canada investor visa in 2021 through the creation of a startup company must make sure their business meets the requirements imposed by the local authorities.
The following conditions apply:
- once the endorsement from the qualified organization is obtained, each of the 5 participants can own 10% of the company shares;
- the main applicant and the qualified supporting organization must hold together more than 50% of the shares in the company;
- once the residence permit is obtained, the applicant must incorporate the company with the Canadian Trade Register;
- the applicant is required to actively participate in the management of the company while living in Canada;
- the main operations of the company must be completed in Canada, however other activities can be completed outside the country.
If you have any other questions about the program and the requirements related to obtaining an investor visa for Canada, our immigration lawyers can answer them. Through it, you can also obtain a residence permit in Canada.
The Provincial Nominee Program as a way to a Canada investor visa in 2021
Another program under which a foreign citizen can migrate to Canada and obtain an investor visa is the Provincial Nominee Program. What should be noted about this scheme is that it has different requirements depending on the province selected by the applicant.
Among the most successful investor visa programs can be found in:
- New Brunswick;
- British Columbia;
- Nova Scotia.
We remind you that if you want to apply for a Canada investor visa under one of the programs developed at provincial levels in 2021, different requirements apply for each of them. Our immigration lawyers in Canada can offer detailed information based on your choice.
We can also guide you in applying for Canadian citizenship.
Moving to British Columbia through the Canadian investor visa in 2021
As mentioned above, most Canadian provinces have their own programs dedicated to investors interested in moving to this country with the purpose of starting a business and living here. One of the most appreciated provinces when it comes to Canadian investor visas is British Columbia thanks to its diverse economy which is great for those seeking to set up new companies as well as expanding existing ones. The capital city of British Columbia is Vancouver and its geographical location favors those interested in setting up trading operations thanks to the easy access to the US, Mexican and Asian markets. Also, British Columbia has one of the most skilled workforces in Canada relying on no less than 2,4 million workers.
The local government is also very supportive when it comes to entrepreneurship and helping businesspersons who want to set up companies here considering there are two investor visa options for those interested in immigration to Canada. These are the Entrepreneur Immigration Stream and the Regional Pilot Scheme.
In order to migrate to Canada and establish oneself in British Columbia under the Entrepreneur Immigration Stream, the following conditions must be met:
- the applicant must have a net worth of at least 600,000 CAD;
- he or she must also have business or managerial experience;
- the candidate must have a clean criminal record and qualify for immigration to Canada.
The 2021 Canada investor visa through the British Columbia Entrepreneur Immigration Stream is also subject to the following business qualification requirements:
- the applicant must set up a new company or purchase an existing one with the purpose of improving it;
- the minimum investment requirement in the business is 200,000 CAD;
- the business must create at least one full-time job for a Canadian citizen or permanent resident.
The other option to move to Canada and obtain an investor visa is through the British Columbia Regional Pilot Program which implies:
- setting up a business and relocate in a region with a population made of fewer than 75,000 individuals;
- for the applicant to complete an exploratory visit to the respective community;
- for the applicant to have a minimum net worth of 300,000 CAD and invest at least 100,000 CAD in the business;
- for the business to create at least one full-time job;
- for the applicant to own at least 51% of the shares in the company.
Out of all investor visa programs, the Regional Pilot Program can be a great choice for those seeking to establish themselves in quiet communities and our immigration lawyer in Canada is at their service for assistance in obtaining such a visa.
How to obtain a Canadian investor visa by moving to Manitoba
Manitoba is another Canadian province suitable for relocation under the Investor Visa Scheme. Among its advantages, it is worth noting the lower living costs compared to other regions of the country which has led to the development of a strong expat community.
The two programs under which an investor visa can be obtained in Manitoba are the Entrepreneur and the Farm Investor Pathways.
In order to apply for the Entrepreneur Pathway and obtain an investor visa for Canada, the following requirements must be met:
- the applicant must at least 3 years of full-time work experience in the past 5 years;
- the applicant must have reached at least the 5th level in the Canadian Language Benchmark test;
- the experience can be a manager or business owner;
- the applicant must own at least 1/3 of the business.
Considering this program is based on the score-point system, it should be noted that business owners will obtain more points than managers. Also, persons aged 25 to 49 will score more points. Our immigration lawyer in Canada can offer more information on the point-based system when moving to Canada.
With respect to the business requirements, the following conditions must be respected:
- a minimum investment of 250,000 CAD is required if the company will be located in the Capital Region of Manitoba;
- the amount required is lower (150,000 CAD) if the company is located outside the Capital Region;
- the company must create at least one full-time job for a Canadian citizen or permanent resident.
The requirements for obtaining a Canada investor visa in 2021 through the Manitoba Farm Investor Pathway implies for the applicant to have a minimum net worth of at least 500,000 CAD and invest at least 300,000 CAD in a farming business. Also, the applicant must have at least 3 years of experience in farming and must be actively involved in the farm’s activities.
The Quebec Immigrant Investor Program in Canada
By far, one of the most successful and renowned programs for relocating to Canada as an investor is the Quebec Immigrant Investment Program (QIIP). This is a provincial immigration scheme that implies the following:
- the applicant must have a net worth of 2 million CAD,
- he or she agrees to invest at least 1,2 million CAD in Canada with the possibility of living in Quebec,
- the applicant must have managerial experience of at least 2 years and must have had at least 2 employees,
- the investment must be maintained for at least 5 years.
This program is one of the most prolific because it accepts up to 1,900 applications per year, thus offering the possibility to relocate here to many foreign citizens. Also, the cap is 130 applications from one country, therefore it relies on diversification.
This program allows various financing options for those interested in immigrating to Canada, therefore it is one of the most successful.
The procedure of obtaining the Canada investor visa through this program implies a rather lengthy process because of a large number of applications every year, however, once approved in the scheme, successful applicants can start the relocation procedure by applying for a residence permit.
If you are interested in applying for an investor visa and move to Quebec, you can rely on the support of our immigration lawyer in Canada who can provide updated information on the requirements, as well as support in meeting them.
The Canada investor visa when relocating to New Brunswick
One of the less known investment immigration programs in Canada is the one of New Brunswick. As a matter of fact, there are two schemes currently developed in this province. The first one is the Entrepreneurial Stream, while the second one is the Post-Graduate Entrepreneurial Stream.
The first program is available for citizens with ages between 22 and 55, therefore it is very flexible from this point of view. From a financial one, the applicants must have a net worth of 600,000 CAD, which is significantly lower compared to the QIIP.
The minimum investment to qualify for the Entrepreneurial Stream is 250,000 CAD and it implies starting a business that serves the local community. Also, managerial experience and living in New Brunswick is mandatory under this program.
The second option for those interested in the Canadian investor visa and who want to move to New Brunswick is the Post-Graduate Entrepreneurial Stream. The requirements for this program imply:
- age between 22 and 40,
- speak French, English, or both languages at a level of 7,
- full-time tertiary studies,
- a minimum of one year in a management position.
Compared to the other program, there is no need to commit to a minimum investment, which is why this is a great program targeting young entrepreneurs.
In order to understand why New Brunswick could be a great choice for immigration to Canada, one should know that the main industries that can be exploited here are forestry and tourism. Also, from an economic point of view, New Brunswick has the highest graduation rate in all the country. Newly incorporated companies benefit from low operational costs, as the startup community in the city of Fredericton is one of the most successful in Canada.
Nova Scotia and the Canada investor visa
Those who want to move to Canada with their families can choose Nova Scotia for the two Entrepreneur Visa programs it offers. These are:
- Nova Scotia Entrepreneur,
- Nova Scotia International Graduate.
Under the first scheme, the minimum age to obtain a Canadian investor visa is 21, while the minimum net worth of the applicant must be 600,000 CAD. He or she must invest at least 150,000 CAD in a local business and must have minimum level of English or French of 5 in the Canadian benchmarks. A special aspect about this program is that once enrolled, the applicant must wait for an invitation from the Nova Scotia Immigration Board.
The Nova Scotia International Graduate has no restrictions related to the age, nor does it have any specific requirements on the net worth of applicants or a minimum amount to invest in order to relocate here. This is one of the main reasons this program can be used for immigration to Canada with the family.
Among the economic sectors in which businesses can thrive in this province are agriculture, forestry, mining, fishing, and gas extraction.
If you have difficulties in choosing a province or have questions on a specific program, our immigration lawyer in Canada is at your service with detailed information. We can also verify the conditions you meet for various investor visa schemes in 2021.
You can rely on us for tailored services if you want to apply for Canadian citizenship. You can also watch our video:
How to choose the program for moving to Canada as an investor
Here are the main aspects to consider about choosing the way to apply for a Canada investor visa:
- in the case of the Startup Visa, an endorsement of at least 75,000 CAD is required from the designated Angel Investor Groups;
- Calgary is the 3rd most livable city in the world if you want to move to Alberta;
- British Columbia has a workforce made of no less than 2,4 million well-educated persons;
- the living costs in Manitoba are quite low, so 76% of immigrants can acquire their own homes within the 5 first years of living here.
If you want to move to Canada through an investor visa, please contact our lawyers for support.