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Federal Programs

Canadian Business Immigration: An Overview

31 July 2016

Canadian Business Immigration: An Overview
Canadian Business Immigration is a category of immigration through which high net-worth individuals with business and/or managerial experience can apply for  Canadian permanent residency which may lead to Canadian citizenship once the conditions are met. Since the Federal business immigration programs were terminated in 2014, similar programs offered by specific provinces have gained in popularity. These programs are good alternatives to the former federal programs as they all lead to permanent residency. One difference is that you must now submit an application to the specific province first, and subsequently to the federal government. The second difference is that you must now prove your intention to settle in a specific province.


Essential submission of documents for Business Immigration applicants

All programs require the submission of the following main categories of documents:
  • Government application forms;
  • Personal documents (passports, birth and marriage certificates, education, etc);
  • Proof of management experience;
  • Proof of current net worth; and,
  • Proof of legal accumulation of net worth.
Proving the legitimacy of net worth

One of the most difficult and time consuming parts of any business application is gathering evidence to prove the origin and accumulation of one’s wealth. A paper trail of all income received as well as expenses incurred must be provided in order to show that the totality of one’s net worth was legitimately acquired. Documents such as tax returns, title deeds, sales contracts, bank or other current asset statements, business/real estate valuations, and financial statements should be provided. For assets that are gifted or inherited, one must prove that the person gifting the funds has accumulated their assets legally.

Timing of the investment

The required investment becomes due after the initial approval of the application from the province, but before final approval from the Federal immigration officials.

Residing in the intended destination

Although the initial intention must be to reside in a specific province, once you and your family become Canadian permanent residents, you are granted the right to live, work, study, and establish a business in any Canadian province or territory. Be wary of the program you are applying to though. Some programs require a deposit of a sizeable amount that will only be refunded if you actually reside in the intended destination for a required period of time.

Most affordable Canadian business immigration program

The Manitoba Provincial Nominee Program for Business (MPNP-B) is one of the most affordable business immigration programs in Canada, requiring only a CAD$150,000 investment. The basic requirements of the program are as follows:
  • Have a minimum net worth of CAD $350,000;
  • Have at least three years of experience as a business owner or senior manager in the past five years;
  • Invest at least CAD $150,000 in an eligible new or existing business in Manitoba;
  • Obtain a minimum of 60 points on the Adaptability Business Matrix;
  • Show an intention to reside in the province of Manitoba.
The MPNP-B is ideal for entrepreneurial individuals with a strong business background who are willing to actively manage a business in Canada. Manitoba requires a solid business plan, and once the applicant is in Canada, they must meet the conditions of running their business for the first two years.

Best passive investment Canadian business immigration program

For those who have no desire to manage or run a business and would prefer to just invest a sum in return for residence, the Quebec Immigrant Investor Program (QIIP) is for you. An investment of CAD $800,000 must be made for a period of five years, after which the full amount is returned. Applicants can do anything they want in the meantime, as there is no requirement to work. The main requirements of the program are as follows:
  • Have a personal worth of CAD $1.6 million;
  • Have at least two years of qualifying senior business management experience;
  • Make a passive investment of CAD $800,000 for a period of five years (financing option is available).
Admission to Canada

While the provinces are responsible for selecting or nominating an applicant, the federal government is solely responsible for admission into the country. Successful applicants of provincial programs, as well as their immediate accompanying family members, must undergo medical examinations as well as criminality checks to ensure admissibility. If, at this stage, an applicant is inadmissible for a reason beyond their control, such as a medical reason, the required investment should be refunded. If, however, the inadmissibility is due to a misrepresentation or fraudulent activity, the investment will likely not be refunded.

Our Expertise

Our office is staffed with professionals who are available to help you with your Canadian immigration journey, from submitting your first application to beyond arrival in the country. We have a large network of trusted resources in each province that will also help with preparation of a business plan and settlement in Canada. Our proven track record will offer you the highest possibility of a smooth and successful immigration process. Contact us today to get your application started.

For a complete list of all of Canada's business immigration programs, please click here.

Fill out our Free Assessment to find out if you qualify under any of the business immigration programs offered.
 

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