As an alternative to the previously existing Entrepreneur Visa program, Canada has introduced Provincial programs to invite foreign entrepreneurs, and investors to establish, acquire, or invest in a business in Canada.
Similar to all the visa programs that exist, these entrepreneur visa programs present their own set of regulations. However, there are a few common requirements that one is required to fulfill, these include:
- The applicant must have a net worth of at least $500,000
- The applicant must be willing and be able to establish, invest in or acquire a business in Canada that will add to the employment in Canada.
- The candidate must have a minimum of 3 years of experience in running a business acquired in the last five years from the application submission date.
- This work experience must entail fulfillment of responsibilities and duties related to the planning, management, and control of material, financial and human resources, or specialization process attested to by a diploma.
Provincial Entrepreneur Visa Programs and Streams are:
- Alberta: It has one investment visa that’s the Self Employed Farmer Stream.
- British Columbia: It has two Investor Visa options; the Provincial Nominee Entrepreneur Immigration Stream and the Regional Pilot Program.
- Manitoba: It offers two visa pathways that are the Entrepreneur Pathway, and the Farm Investor Pathway.
- New Brunswick: To get a business visa in this province, one is required to fulfill the criteria for either the Entrepreneurial Stream or the Post-Graduate Entrepreneurial Stream.
- Nova Scotia: The two Entrepreneur Visa options available are the Nova Scotia Entrepreneur and Nova Scotia International Graduate.
- Northwest Territories: To start a business here, one needs to qualify under Northwest Territories Business Stream.
- Newfoundland and Labrador: The two options for visas available here are International Entrepreneur and International Graduate Entrepreneur streams.
- Ontario:One can choose the preferred option from the Ontario Corporate Stream and the Ontario Entrepreneur Stream.
- Prince Edward Island: Currently, it offers Prince Edward Island Work Permit as the business visa option.
- Saskatchewan: Its visa options include, Saskatchewan Entrepreneur Category, Saskatchewan Farm Owner and Operation Category, and Saskatchewan Farm Owner and Operation Category-Young Farmer Stream.
- Yukon: This province offers Yukon Business Nominee Program.
These Entrepreneurial Programs further enhance the applicant’s and their immediate family member’s chances to gain permanent residency in the country.
To obtain a suitable entrepreneur visa for your business need and to seek answers to all your relevant queries, get in touch with our licensed RCICs now at ImmigCanada.