Business Visa is one of the world’s most prominent permanent residency pathways for entrepreneurs. The program is helmed by the robust business environment and favorable government policies. Millions of people choose Canada for the abundant business opportunities, social benefits, tax incentives, qualified workforce, multiculturalism, equality, political stability, advanced economy free healthcare, and education for the entire family.
Upon comparing the business immigration pathways, Canada has the most streamlined and effective pathways. Meanwhile, US business visa is widely popular among the businessmen; however, the waiting period and the approval rate is a big question mark. Similarly, Europe too has a popular Residency by Investment that allows investors to attain permanent residency in any European country, but these countries have a quota. So, while choosing Canada as your business destination, you would be happy to know there is no cap for business visa approvals or no longer a waiting period. Every year the Canadian government is increasing the immigration levels/intakes to boost the country’s economy.
The entrepreneur program runs on the PNP Business Immigration Canada wherein each province has its pathways for entrepreneurs. Below is the detailed chart for pathways and requirements:
|Particulars||Investment||Net-worth||Business Experience||Deposit||PR/Work Permit|
|Ontario PNP||GTA CAD 600,000 (INR 3.51 Crore). Outside GTA CAD 200,000 (INR 1.17 Crore)||GTA CAD 800,000 (INR 4.67 Crore). Outside GTA CAD 400,000 (INR 2.34 Crore)||3 years||Nil||Work Permit then direct PR|
|British Columbia PNP||CAD 200,000 (INR 1.17 Crore)||CAD 600,000 (INR 3.51 Crore).||3 years for business owners or 4 years for senior managers||Nil||2-year work permit before PR|
|Saskatchewan PNP||CAD 300,000 (INR 1.76 Crore) in Regina or Saskatoon. CAD 200,000 (INR 1.17 Crore) other communities||CAD 500,000 (INR 3 Crore)||3 years||Nil||2-year work permit before PR|
|Manitoba PNP||CAD 250,000 (INR 1.46 Crore) in Capital. CAD 150,000 (INR 87.6 Lac) outside capital||CAD 500,000 (INR 3 Crore)||3 years||Nil||Work Permit then direct PR|
|Nova Scotia PNP||CAD 150,000 (INR 87.6 Lac)||CAD 600,000 (INR 3.51 Crore).||3 years||Nil||1 year Work Permit before PR|
|Prince Edward Island PNP||CAD 150,000 (INR 87.6 Lac)||CAD 600,000 (INR 3.51 Crore).||Sufficient experience||CAD 7,500 (INR 4.4 Lac)||Work Permit then direct PR|
* After the approval, entrepreneurs must come to Canada on a work permit to establish the new business. After the company incorporation, applicants will receive the Canada Permanent Residency.
What is the Canada entrepreneur visa process?
1) Arrange all the documents and forms according to the checklist
2) Register for an online Expression of Interest (EOI) for the Canada Business Visa Application by uploading all the documents.
3) Authorities will review the application and grant an invitation if deemed qualified
4) Submit the final application with all the mandatory information and requested documents
5) Agree all the declarations and submit the application fee
6) Attend a mandatory interview upon selection by the authority
7) Sign a Performance Agreement and demonstrate commitment to invest and create jobs in the chosen province.
8) After approval, you will receive a temporary work permit support letter to apply for the temporary work permit from IRCC.
9) The work permit will help your to move to the province for establishing your business
10) According to the validity of the temporary work permit, you must establish your business and implement your business plan
11) Once you successfully establish and run the business and meet all the requirements of the Performance Agreement, you will become eligible for Canadian Permanent Residency.
What are the documents required for the Canada Entrepreneur program?
1) For senior managers – Employment Reference Letters, Organizational Chart, Work/employment contracts, Pay Slips
2) For business owner – Employment Reference Letters, Business Registration License, Registration with taxation authorities, Proof of Shareholding, List of employees, Business income tax returns, Financial statements, Articles of incorporation
3) Investment Documents – Net worth report, Business-related visits (mandatory if you are purchasing an existing business), Business plan
4) Proof of business ownership (mandatory if you are purchasing an existing business)
5) T4 statements (if applicable)
6) Canadian/ Foreign Education Credential
7) Language Proficiency Tests Results
8) Identity documents – Photographs, Passport, Family member’s passport (if applicable)
9) Canadian Standard Resume
What is the Processing Time for Canada Entrepreneur Program?
The average processing time is clocked at 12 to 15 months for all the PNP Business Immigration Canada programs.
What are the Visa Fees for Canada Entrepreneur Program?
1) Ontario PNP – CAD 3500 (INR 11 Lac)
2) British Columbia PNP – CAD 300 (INR 18,100) – Registration, CAD 3500 (INR 11 Lac)
3) Saskatchewan – CAD 2500 (INR 15,100)
4) Manitoba PNP – CAD 2500 (INR 15,100)
5) Nova Scotia PNP – No Application Fee (there may be cost for document preparation, education credential and IELTS)
6) Prince Edward Island PNP – CAD 10,000 (INR 6.1 Lac)
How can Abhinav help you?
1) Abhinav is the only Immigration specialist In India with an expert team and experience dealing with business and investor applications for more than two decades. It is a highly demanding, high-risk category of Immigration.
2) Conduct Profile Assessment to identify the correct country and program, viz. Canada Business Immigration, Residency by Investment or Citizenship by investment or Provincial Entrepreneur programs, Startups, Intra-company Transfers, and Self-Employed Business Programs.
3) Exceptional advice for dependent/non-dependent children and parents
4) Superior guidance for clients having limitations of staying outside India for long
5) Documentation guidance is critical to acceptance, including the all-important area of source and path of funds, business, and personal net worth.
6) Professional Business Plan Drafting.
7) Market Research vis-à-vis Business for Sales listings and Start-up ideas.
8) Online IELTS Coaching.
9) Overseas Company Incorporation.
10) Taxation planning and advice.