People who intend to start businesses in Canada or invest in the Canadian economy can become permanent residents through business immigration programs.
There are two options for business immigration:
- immigrate as a self-employed person, or
- immigrate with a Start-up Visa
Self-Employed Class
The Self-Employed Class is an immigration route for self-employed people who want to immigrate to Canada or people who intend to be self-employed in Canada. Canada accepts self-employed immigrants if they intend to make a significant contribution to Canada’s cultural or athletic sectors.
To qualify for the Self-Employed Class, you must have two years of relevant work experience and prove that you can be successfully self-employed in Canada.
You must also meet the selection criteria established by the government. This may include factors such as your age, experience, education, language skills, and adaptability (i.e. ability to find employment and stay employed).
Finally, you and your family must complete a medical and security requirement and have enough money to support yourself in Canada.
Start-up Visa Program
The Canada Start-up Visa Program is designed to attract immigrants with strong entrepreneurial skills who can build successful businesses in Canada and provide employment to Canadians.
To apply for a start-up visa, you must also meet English or French language requirements and have enough money to support yourself and your dependents in Canada.
You must also create a business proposal and have it approved by a designated organization. Designated organizations are those that have been approved by the government to invest in the Start-up Visa Program or support businesses through the program.
Designated organizations fall into one of these business groups:
- Venture capital funds,
- Angel investor groups, or
- Business incubators.
If an organization supports your start-up idea, it will give you a Letter of Support.
While applying for the Start-up Visa program, you are able to simultaneously apply for a temporary work permit.