Business Immigration Program is designed for foreign business people who wish to obtain permanent resident status in Canada. Candidates can be awarded the status if they can prove their intention and ability to set up a business or invest in Canada.
Canadian immigration programs for investors and entrepreneurs are ever-increasing in popularity among foreign business people as the most established and developed in the world. As a result Canada accepts close to six thousand applications and annually provides permanent residence to 15,000 business immigrants and their dependents.
The popularity of the Program is based on the factors that can provide any business with many advantages. Canada’s economic fundamentals are sound, and its economy is highly competitive. The Canadian workforce is unrivalled in terms of knowledge, education and skill level, and is also stable. Canada offers an excellent business infrastructure and the cost of doing business in the country is quite low. Canadian companies have entry to the world’s largest markets through the North American Free Trade Agreement (NAFTA) — and are a vital presence in Asia, Europe and around the world.
Besides, Canada offers a superb quality of life: a safe, just and equitable society, excellent health and social programs, a reasonable cost of living, affordable first class education, a world-renowned natural environment, dynamic cities and a rich cultural life.
After three years of residing in Canada business immigrants are eligible to apply for Canadian citizenship. Canadian citizens may travel to the US and many other countries without a visa.
Business applicants can choose between the immigration programs managed by the Federal government and the programs exclusively managed by the provincial governments.
Federal program requires applicant to settle anywhere in Canada except Quebec. The investment is government guaranteed. Applicant is allowed to finance the bulk of the investment through financial institutions. The five year investment period begins following visa issuance.
Quebec Investor program requires applicant to settle in Quebec but the Constitution allows immigrant after landing in Quebec to move elsewhere. The investment can be also financed and is guaranteed by the province. The five year investment period begins following Quebec approval before the investor arrives to Canada. Processing of applications is much faster. Both programs are ideal for those who want to immigrate but do not wish to be engaged in a business activity upon arrival.
Nova Scotia Investor programrequires applicant to settle in the Province of Nova Scotia but the Constitution allows immigrant after landing to move elsewhere. Investor makes one-time, non-refundable economic contribution that will be returned, if he is refused visa. Very fast processing – interview scheduled within 30 days of receiving application. The program is ideal for business people who do not qualify under the Federal or Quebec Investor program.
Federal Entrepreneur program requires an immigrant to establish and be actively involved in the management of a qualifying business in Canada. Applicants without qualifying business experience cannot succeed. Approved applicants as well as their family members are admitted to Canada under conditional visas.
Quebec Entrepreneurs program requires an applicant to defend a detailed business plan that outlines the feasibility and relevancy of the project to Quebec. Processing is much slower than under the Investor program. Once approved, the application proceeds to the Federal government for security and medical verifications. Visa is issued with mandatory terms and conditions.
Nova Scotia Entrepreneurs program has the same requirements to the applicants as Nova Scotia Investor program. Very fast processing – interview scheduled within 30 days of receiving application. The program is ideal for business people who do not qualify under the Federal Entrepreneur program.
Quebec Self-Employed program is much broader with regard to occupations. The only requirement is so that the occupation is present in the Canadian National Occupational Classification (NOC). Applicants are assessed under the point system.