How to be an immigrant entrepreneur in Canada

Canada immigrant entrepreneurs

Canada immigration welcomes immigrants into various streams through different immigration programs including Express Entry and Provincial Nomination Programs. Besides welcoming workers, students, and visitors, the country also lets entrepreneurs arrive and start a business.

If you are a willing investor who either wishes to start a new business or buy an existing business in Canada, you will be welcomed in the country. Immigrant investors and businessmen are seen as potential contributors who can benefit the country’s economy. Such entrepreneurs and investors will create more jobs for Canadians and hence enrich the Canadian economy.

In Canada, if you want to start a new business, you can apply for a startup visa. The country offers a Startup Visa program that aims at entrepreneurs who are immigrants. These immigrants possess the skills and capability to build a business in Canada. Such business shall be

  • Innovative
  • Able to create jobs for Canadians
  • Capable to compete globally

If you can get support from any of the stipulated designated organizations, you can set up a business in Canada. These organizations could be:

  • Angel investor groups with whom you must get a minimum investment of $75,000
  • Venture capital funds with whom you must get a minimum investment of $200,000
  • Business incubators who must take you into one of their programs

You can be an eligible candidate for a startup program if you

  • Meet the language requirements
  • Have a qualifying business
  • Bring enough money to settle in Canada
  • Get a letter of support from a designated organization

Immigration Canada’s business immigration category has an Entrepreneur Visa. A candidate can be eligible for this visa if he/she has a minimum net worth of $300,000. He/she must also be willing and be capable to establish, invest in, or buy a business in Canada capable of creating employment.

Upon qualifying for the Entrepreneurial program, you and your immediate family will be eligible for permanent residence. This will be possible under the Federal Program. The candidates can live anywhere in Canada except Quebec. Under the Entrepreneur Program, you must establish or acquire a minimum of 33.33% in a Canadian business that’s in good stature. You must also actively manage the business that will create a minimum of one new job for a citizen or permanent resident of Canada.

Recently, Ontario conducted its Entrepreneur draw, a clear indicator that Canada needs international entrepreneurs to come, settle, and establish new businesses. If you are an entrepreneur, Canada is a destination to go for.

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