The Canadian province of Quebec is one of the most well-known areas in the country and a popular destination for visitors and those looking to relocate to Canada permanently. There are plenty of reasons why Quebec is such an appealing destination for foreign nationals, including the province’s iconic city of Montreal, which is often ranked as one of the greatest cities across the world.
For high net worth individuals exploring business immigration opportunities, Quebec is often the go-to choice when it comes to location. Until recently, Quebec offered three immigration programs for business-minded men and women: the Quebec Immigrant Investor Program (QIIP), the Quebec Entrepreneur Program, and Quebec Self-Employed Worker Program. As of this year (2017), however, the Government of Quebec announced that from April 1, 2017 to March 31, 2018, applications to obtain a Quebec Selection Certificate (CSQ) will not be received under the Quebec Entrepreneur Program and Quebec Self-Employed Worker Program. What this means is that entry to Quebec through business immigration is narrowed down to only one option: the QIIP.
If you had your mind set on the Quebec Entrepreneur or Quebec Self-Employed Program, don’t panic—Canada’s business immigration programs are as diverse as the country itself. Indeed, Canada offers more than 30 immigration programs for investors and entrepreneurs in 12 provinces, including Manitoba, British Columbia, Nova Scotia, and Prince Edward Island among others. These are known as Provincial Nominee Programs (PNP), which offer applicants and their family Canadian permanent residency (PR) or a Canadian work permit (WP), depending on the chosen location. By now you are probably asking yourself what PNPs have to offer over the Quebec Entrepreneur Program, Quebec Self-Employed Worker Program, or wondering how a PNP can benefit you and your family.
Canadian Provincial Nominee Programs
First, it is important to note that requirements for the QIIP differ from other Canadian business immigration programs. The QIIP requires a minimum net-worth of CAD 1.6 million and a capital investment of CAD $800,000 into Quebec. PNPs, on the other hand, can have minimum net-worth requirements as low as CAD $350,000, if at all. In addition, minimum investment amounts are generally more affordable through provincial immigration programs. For the Manitoba Provincial Nominee Program for Business (MPNP-B), the required investment amount is only CAD $150,000.
Second, PNP business streams have steadily risen in popularity for business-minded individuals and entrepreneurs seeking entry to Canada. For 2017 alone, Canada anticipates welcoming more than 50,000 newcomers through the country’s Provincial Nominee Programs. Options such as the Manitoba Provincial Nominee Program for Business (MPNP-B), British Columbia Provincial Nominee Program (BCPNP), and Prince Edward Island Provincial Nominee Program (PEI-PNP) often rank as top choices for business immigration to Canada’s provinces.
However, not all PNPs offer Canadian permanent residency (PR) status, but instead provide a Canadian work permit (WP) to successful applicants. The Nova Scotia Entrepreneur Stream (NSNP) and Ontario Entrepreneur Stream (OINP), for instance, grant applicants a work permit instead of permanent residency. Depending on the nature of your business, desired location, and immigration needs for you and your family, potential applicants should weigh out which PNP option is best for their circumstances by researching different programs and/or discuss their options with a qualified immigration consultant or immigration lawyer.
Third, while there is certainly a lot of interest in the QIIP, it may not be the type of immigration program that suits the needs of someone wanting to be actively involved in a business venture. For individuals looking to establish or expand a business in Canada, Provincial Nominee Programs offer the perfect opportunity for investors seeking an active role as a business owner, partner, or senior manager. All PNPs, with the exception of the Nova Scotia – International Graduate Entrepreneur Stream (NSNP), require the applicant to provide a business plan prior to immigration. In addition, all PNP applicants must meet minimum business experience requirements that include business ownership and/or senior-level to executive-level management positions.
As you can see, Provincial Nominee Programs provide business-minded individuals and entrepreneurs a number of options for immigration to Canada outside of Quebec. Even more, PNPs allow hands-on opportunities for experienced business owners and managers desiring an active role in their future Canadian business. However, it’s also important to remember that PNP requirements and benefits vary from province to province, so finding the right program that fits your business needs and personal background is key to success. Contact our office today to discuss your immigration plans to Canada.
Each province and territory in Canada, with the exception of Quebec, has their own Provincial Nominee Program (PNP) which nominates individuals interested in settling in that particular province for fast-tracked immigration.
To see our Canadian Provincial Nominee Programs Comparison Table, please click here.
For more information on Canadian immigration programs, please click here.
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