1) Business Immigration Program (PNP Based)

Certain provinces offer the opportunity for investors to immigrate to Canada through an investor visa by participating in the investor stream of the Provincial Nominee Program. Each province, based on its unique economic landscape, resources, and market needs, establishes specific rules and eligibility criteria. If you wish to reside and invest in a particular province, you can seek nomination through their provincial immigration program, initiating the process for obtaining a Canadian investment immigration visa. We are discussing 2 most famous provincial business immigration programs.

a) Ontario Immigrant Nominee Program (OINP)-Entrepreneur Stream

The Entrepreneur Stream is a pathway within the Ontario Immigrant Nominee Program (OINP) designed for entrepreneurs from outside Canada who are keen on establishing a new business or acquiring an existing one in Ontario. This stream provides entrepreneurs, along with a potential foreign national business partner, the chance to be nominated for permanent residence once their business becomes established in Ontario. Upon receiving a nomination, the subsequent step involves applying to the federal government through Immigration, Refugees, and Citizenship Canada (IRCC), where the final decision on permanent residency is made. The application process for the Entrepreneur Stream unfolds in two stages, and an overview of this process is outlined below.

Phase 1:

• Express your interest by email and, if invited, proceed to submit an online application.

• Attend a compulsory interview with the applicant and, if applicable, a business partner.

• Upon successful completion of Phase 1, sign a performance agreement.

Phase 2:

• Receive a temporary work permit support letter from OINP for applying to IRCC.

• Establish your business within 20 months from your arrival in Ontario, implementing the business plan and submitting a final report.

• If the business meets all requirements, OINP will request documentation to assess eligibility for nomination for permanent residence.

Other Requirements:

1. Net Worth:

Applicants must possess a minimum personal net worth, which must be lawfully obtained and verifiable. The minimum personal net worth requirement varies based on the location of the proposed business:

• • For businesses within the Greater Toronto Area (City of Toronto and Durham, Halton, York, and Peel regions), the applicant must have a minimum personal net worth of $800,000 CAD.

  • For businesses outside of the Greater Toronto Area, the applicant must have a minimum personal net worth of $400,000 CAD.

Personal net worth specifically excludes that of the spouse.

2. Minimum Investment:

Applicants are required to make minimum investments in the business from their personal net worth. The minimum personal investment depends on the business location:

• For businesses within the Greater Toronto Area, the applicant must make a minimum personal investment of $600,000 CAD.

• For businesses outside of the Greater Toronto Area, the applicant must make a minimum personal investment of $200,000 CAD.

Additionally, the applicant must retain control of at least one-third of the business's equity.

3. Business Experience:

Applicants must demonstrate a minimum of 24 months of full-time business experience within the last 60 months. This experience must be either as a business owner, with an active role and ownership of at least one-third of the business, or as a senior manager with significant decision-making responsibilities in the day-to-day operations of the business.

4. Job Creation:

Job creation requirements vary based on the business's location:

a) For businesses within the Greater Toronto Area, the applicant must create at least two permanent full-time jobs for Canadian citizens or permanent residents.

b) For businesses outside the Greater Toronto Area or in the information and communications technology or digital communications sector, at least one permanent full-time job must be created for a Canadian citizen or permanent resident.

c) These jobs must be paid at the median wage level for the position, continuously filled for a minimum of 10 months before submitting the final report, and must still exist at the time of the final report and nomination.

5. Language Requirement:

Applicants are required to possess the ability to listen, read, write, and speak English or French at a proficiency level of Canadian Language Benchmark (CLB) Level 4.

6. Residency Obligation:

Applicants must physically reside in Ontario for 75% of the time while establishing their business.

b) Saskatchewan Immigrant Nominee Program (SINP)- Entrepreneur Stream

Eligibility Requirements

These prerequisites apply to all individuals seeking to enter the SINP Entrepreneur Category, and it is the applicant's responsibility to substantiate their eligibility with supporting documentation. In the event of misrepresentation, the application will be rejected, irrespective of the applicant's ability to meet any or all of the eligibility criteria. Individuals refused by the SINP are prohibited from submitting an Expression of Interest (EOI) or applying to the SINP for a two-year period.

• Minimum Eligibility Criteria:

a. Applicants must possess a minimum of $500,000 CAD in Net Business and Personal Assets, validated by a Ministry-approved professional third party. To demonstrate this, applicants must submit the required documentation outlined in the document checklist.

b. Applicants must demonstrate the accumulation of claimed net worth through legal means, verified to at least 80 percent by a Ministry-approved professional third party. Supporting documentation should be submitted as per the document checklist.

c. Applicants must boast a minimum of three years of entrepreneurial experience within the ten years preceding their EOI submission. Documentation and supporting information must be provided in accordance with the document checklist.

d. Applicants are obligated to make a minimum equity investment of $300,000 CAD in Regina or Saskatoon, or a minimum equity investment of $200,000 CAD in any other Saskatchewan community. Documentation and supporting information, outlined in the document checklist, must be submitted.

• Business Establishment Plan (BEP) Knowledge:

Applicants must possess and be able to demonstrate an in-depth understanding of their Business Establishment Plan (BEP).

• Residency Requirement:

Applicants are mandated to reside in Saskatchewan with their dependent family members.

• Business Ownership and Management:

Applicants must own at least one-third (33 1/3%) of the business's equity and actively participate in the day-to-day management and direction of the business. If ownership is less than 33 1/3%, a $1 million CAD investment is required, with continued active involvement in management.

• Job Creation:

Applicants establishing a new business in Saskatoon or Regina must create or maintain at least two jobs for two Canadians or Permanent Residents in Saskatchewan (non-relative workers). For those purchasing an existing business in Saskatoon or Regina, the staffing complement at the time of purchase must be maintained.

• Business Performance Agreement:

Applicants must sign a business performance agreement with the Government of Saskatchewan, provided by the SINP after the application is approved.

The Start-up Visa Program in Canada is designed for immigrant entrepreneurs possessing the skills and potential to establish businesses that are innovative, capable of generating employment for Canadians, and can compete on a global scale.

Requirements for the Start-up Visa:

1. Qualifying Business:

A qualifying business refers to one that fulfills the following conditions:

• • At the time of receiving a commitment from a designated organization:

 a) Each applicant holds 10% or more of the voting rights attached to all outstanding shares of the corporation (up to 5 people can apply as owners).

 b) Applicants and the designated organization collectively hold more than 50% of the total voting rights attached to all outstanding shares of the corporation.

• • At the time of obtaining permanent residence:

a) Active and ongoing management of the business must be provided from within Canada.

b) An essential part of the business operations must take place in Canada.

c) The business is incorporated in Canada.

2. Obtain a Letter of Support from a Designated Organization

To proceed with the Start-up Visa Program, it is imperative to secure a letter of support from a designated organization, which refers to a sanctioned business group authorized to invest in or support potential start-ups. The following steps are involved:

• Contact the designated organization to inquire about the process for obtaining their support.

• Persuade the organization that your business idea is worthy of their backing.

• Acquire a letter of support from the designated organization.

The process of pitching your idea varies for each organization, each having its unique requirements. For instance, you might be required to present your business concept in person or submit a comprehensive business plan. Upon reaching an agreement with the designated organization, they will furnish you with a letter of support, a crucial component to include in your application. This letter serves as evidence that a Venture Capital Fund, Angel Investor Group, or Business Incubator is endorsing your business idea.

Simultaneously, the organization will forward a commitment certificate directly to the Immigration, Refugees, and Citizenship Canada (IRCC). Both your letter of support and the organization's commitment certificate will be utilized by the IRCC to evaluate your application. The IRCC may request additional business information to make a final decision on your application.

Failure to include the letter of support or fulfill any other requirements may result in the refusal of your application. While your permanent residence application is in process, you have the option to apply for a temporary work permit to enter Canada and commence the development of your business.

3. Meet the language requirements

You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all of these four areas:

• Speaking

• Reading

• Listening

• Writing