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Achieve Canadian permanent residence and citizenship through business immigration.
If you are exploring avenues to obtain Canadian citizenship or permanent residency or wondering about business immigration as a pathway, then this page is for you. Canada has several immigration options for business owners, including the Start-up Visa, Self-Employed Programs, and Provincial Nominee Programs. This article outlines an alternative route for foreign entrepreneurs aiming to secure permanent residency in Canada. Unlike specific business immigration programs, this pathway starts with a work permit and can lead to permanent residency quicker than traditional methods. We’ll discuss how this process works and offer step-by-step guidance that starts with getting a work permit, moving on to permanent residence, and finally, citizenship.
What is Business Immigration in Canada?
Business immigration in Canada is a category of immigration that consists of various programs designed to attract foreign business owners, investors, entrepreneurs, start-ups, and high-net-worth individuals looking to establish or expand their business ventures within Canada. It includes the Start-up Visa (SUV) program, Provincial Nominee Programs (PNPs) tailored for entrepreneurs, the Self-Employed Program, and pathways that transition from a Work Permit (WP) to permanent residency (PR), including Labour Market Impact Assessments (LMIAs) for business owners.
These programs offer a way for these individuals and their families to obtain permanent residency by starting a business or buying a business in Canada and contributing to the Canadian economy through business activities.
How to Obtain Canadian Citizenship Through Business Ownership?
Let’s explore each step of the business immigration pathway and how to obtain permanent resident status in Canada through investment and ultimately become Canadian citizens.
Step 1: Buy or Start a Business in Canada
There are four ways foreign investors can invest in Canadian business:
Starting a new business
Buying an established business
Buying shares in an established business (at least 33% or more)
Buying a franchise
You do not have to be a Canadian permanent resident or citizen to start or invest in a business in Canada. However, you cannot work in your business without a valid work permit. Therefore, hire a Canadian manager to operate your business until you are authorized to work in Canada.
Your initial investment amount to buy or establish a business in Canada can range between CAD $150,000 and $350,000, but depending on your personal and financial goals, this amount can be higher. For example, a business that generates net profits of $100,000 per year typically costs between $300,00 to $500,000 (net revenue x 3 to 5)
The table below demonstrates the pros and cons of each option for business investment in Canada.
Step 2: Apply for a Work Permit
Once you have started or purchased a Canadian business, you can apply for a work permit as a foreign owner of a Canadian business. Several different work permits will be available to you based on your background and immigration goals. They include the following:
LMIA-based work permits – Although owner-operator LMIAs are no longer exempt from advertising requirements, business owners can still apply and obtain LMIAs under the regular stream to work in Canada as managers of their businesses.
Intra-company transferees (“ICTs”) – These are work permits for entrepreneurs who already operate a multi-national corporation and have established a new operation in Canada.
Investors under free-trade agreements – This category of work permits allows citizens of certain countries, including Mexico, Chile, Colombia, the USA, the EU, South Korea, Panama, Peru, Vietnam, Australia, New Zealand, Japan, and Singapore to apply to come to Canada as business investors.
Entrepreneur work permits – These work permits are for foreign nationals who intend to operate a business that will generate significant benefits for Canada (C10 and C11 Work Permits).
Start-up visa work permits – The SUV Work Permits are for entrepreneurs wishing to establish innovative or highly scalable businesses in Canada.
PNP Canada programs – The Provincial Nominee Programs for entrepreneurs may be complicated for some foreign investors and entrepreneurs, but they still offer a viable option for work permits and permanent residence as a final goal.
Quebec Immigrant Investor Program – This program is ideal for high-net-worth individuals who speak French and looking to gain a work permit in Canada and eventually permanent residence.
Step 3: Come to Canada to Operate Your Business
Upon arriving in Canada as a foreign worker, you must operate your business usually for a minimum of 12 months before transitioning to permanent residence through suitable immigration programs. The length of operation depends on the type of business you have (i.e. established or new) and your work permit type.
Note that your business is not required to generate specific revenue or even be profitable. But it must be active and operational and have sufficient capital to cover the operational costs and pay your wages.
Step 4: Apply for Permanent Residence as a Business Owner
If you have been working in Canada as a business owner for at least 12 months and are actively involved in your enterprise, you might qualify to apply for permanent residence. You need to speak about this topic with your immigration lawyer in advance if your ultimate goal is to become a permanent resident in Canada or even a proud Canadian citizen.
How We Can Help You
At Sobirovs Law Firm, we specialize in supporting entrepreneurs looking to invest in or start a business in Canada. Our services include:
Assisting entrepreneurs and investors in finding the right business opportunities. We have access to numerous promising projects through business brokers, venture capital funds, existing business owners, and companies looking to sell in Canada.
Crafting market entry strategies and developing robust business plans. Our team of lawyers and in-house professionals collaborates to refine business ideas and perform thorough market analysis.
Offering comprehensive support in company registration, negotiating business purchases, conducting due diligence, and other essential steps to facilitate a smooth entry into the Canadian market.
Providing business consulting services to lay a solid foundation for obtaining permanent residence.
Offering full support with the application processes for work permits and permanent residency, guiding entrepreneurs through each step to ensure a successful transition.
Why Choose Us?
We care about you, your family and your success in Canada. We want to help you achieve your goal because we believe Canada will benefit greatly if you come to our country.
We simplified the process for you and tried to remove all the hassles and stress (as much as possible) from your immigration journey.
Trust our expertise. Business immigration is our business, and we specialize in all types of business immigration applications. We process over 150 business investment applications annually and have developed expertise in this type of application. Our approval rates are consistently over 80%, reflecting our dedication to the quality of our legal services.
We will support you throughout the journey and take care of all the moving parts and complexities of immigration, so you don’t have to think about it. Just focus on your business and become successful in Canada.
We read many books about business and entrepreneurship, take courses, and attend seminars so we can add value to your business, suggest ideas, and help you see what is possible. We invest in our knowledge for you.
