The Government of Canada has granted rights to its provinces to run their own immigration programs and select economic immigrants who can make lasting contributions to the Canadian economy. The provincial nominee programs have always been the driving forces behind Canada’s economic development as they play a pivotal role in attracting skilled workers who can support economic growth in the provinces, and thus overall Canada.
Apart from skilled workers, Canadian provinces also attract motivated and innovative entrepreneurs around the globe who wish to invest in and actively manage a business one of Canada’s provinces via PNP business immigration programs. The business investor programs are designed to target wealthy foreign nationals who can permanently immigrate to Canada by investing a significant amount of funds in a new or an already existing business in their chosen Canadian province. Each province has its own investment or net worth related requirements, and thus nominate eligible business immigration candidates who can not only boost the provincial economy, but also generate employment opportunities for other Canadian citizens and permanent residents.
Prospective investors wishing to invest in and manage a business in any of Canadian provinces are required to submit a detailed viable business plan or proposal that must explain the nature of business they intend to buy or establish in their chosen province. It must also highlight the source of funds, and how their business model will help bolster the province’s local economy.
Another key feature of Canada PNP Business Immigration is that in some provinces the aspiring investors are required to demonstrate full-time business management experience. The years of experience completely depend on province to province. Additionally, applicants must operate the business actively on a day-to-day basis, and commit to its operations in the long-term. In fact, in some provinces it is necessary to meet the performance benchmarks for businesses to maintain their status and establishment in the province.
The minimum investment requirement for PNP business immigration programs varies from province to province. Also, some provinces make it mandatory for the qualified investors to have an exploratory or a pre-arranged trip to help them make an informed choice on whether they are genuinely interested in expanding the reach of their business enterprise or not.
The below-mentioned table summarizes the basic requirements for Canada PNP business immigration programs:
|Name of the Province||Minimum Net Worth
|British Columbia||$800,000 CAD for Vancouver and Abbotsford area, while
$400,000 CAD for other areas.
|$400,000 CAD with 33.33% business ownership in Vancouver and Abbortsford area.
$200,000 CAD with 33.33% business ownership in outside Vancouver and Abbortsford area.
|It is mandatory|
|Manitoba PNP||Minimum of CAD $500,000||CAD $250,000 for businesses in the Manitoba Capital Region. Minimum $150,000 for businesses operating outside of the Manitoba Capital Region.||Yes|
|Ontario||$400,000 CDN||$600,000 CDN for businesses situated in the Greater Toronto Area with at least one-third of the equity in the business. $200,000 CDN for outside of the Greater Toronto Area with one-third ownership in the business.||Not required|
|Saskatchewan||$500,000 CAD||$300,000 (CAD) for Regina and Saskatoon area. minimum of $200,000 (CAD) for other areas.||Only for farm owners and operators.|
|Prince Edward Island||$600,000 CAD||CAD $150,000 with at least 1/3 business ownership or $1,000,000 investment.||Required|
|Nova Scotia||$600,000 CAD||$150,000 CAD with at least one third (33.33%) of the equity of the business.||mandatory exploratory visit|
|New Brunswick||$600,000 of which CAD $300,000 must be liquid and unencumbered funds||$125,000 CAD||For minimum five business days|
|Yukon||$500,000 CAD||$300,000 CAD||Yes|
|Northwest Territories||A minimum of $500,000 CAD for setting up a business within Yellowknife. $250,000 CAD for operating a business outside the regions of Yellowknife.||$300,000 CAD for buying a business in Yellowknife. And, $150,000 CAD for starting a business outside the Yellowknife area.||Ye|
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