Canada Provincial Business Immigration Programs: A Comparison

Author: Parminder Singh LL.B (Canada)

Comparison Chart, Canada Provincial Business Immigration

Canada has 10 Provinces and each province has its own requirements with respect to Business Immigration or investor visas. This article compares all the Canadian provinces with respect to their investment criteria for business visas so that the applicants may decide which province suits their pockets and budgets.

Some provinces require an applicant to have less net worth than the others. Surprisingly,  the range of net worth requirement from province to province is between $250,000 to $16,00,000.

However, it must be noted that the Canada Federal Business Immigration Program, which is a subject matter of another article, requires much more net worth than most provincial business immigration programs. The Canada Investor Visa requires a net worth of $1.6 million, of which, half must be deposited with the government for 5 years without interest.

Click the following attachment for a comparison chart of 10 Canadian Provinces with respect to the following requirements in their Business Immigration programs: net worth, business experience, government deposit, visit to province, business plan and language requirements. 

Comparison Chart, Canada Provincial Business Immigration

 

 

Canada Business Class Immigration


BUSINESS CLASS [vii]

Immigration to Canada in 4 ways under business class

  1. Investor class
  2. Entrepreneur class
  3. Provincial Nominee class
  4. Quebec Business class

1. INVESTOR CLASS

Canada Immigration has closed Immigration to Canada under Federal Investor class TILL JUNE 2012 because 700 spots for the year 2010-2011 are full now. However, the provincial INVESTOR CLASSES are still open IN SOME PROVINCES.

Eligibility for Immigration to Canada under FEDERAL INVESTOR CLASS,

  1. Two years of business experience as an owner or manager and
  2. A net worth of $1.6 million.

An applicant must deposit $800,000 with the Canadian government’s investment program for 5 years. The Canadian government returns this money after 5 years without an interest.

Some government approved Canadian banks provide financing for $800,000 against an applicant’s property abroad. If an applicant is able to deposit $220,000 with the selected Canadian bank for 5 years without an interest, the bank  will finance $800,000 against the applicant’s  property abroad.

In other words,  if an applicant has $1.6 million of net worth, he need not sell all his assets in order to pay off $800,000; rather he only  pays $220,000 to the Canadian bank. Briefly, if an applicant has a cash flow of $220,000 plus two years of business experience, he and his family can qualify for Immigration to Canada.

2. ENTREPRENEUR CLASS

Entrepreneur class is divided in 2 parts

  1. Entrepreneurs
  2. Self-employed individuals

1. Entrepreneurs

Immigration to Canada under entrepreneur category is possible, if an individual

  1. has a net worth of  CAD$300,000 and
  2. has ability to invest in or acquire a Canadian business which will create employment in Canada.

2. Self Employed Persons

Canada PR status  is granted under self-employed class,  if an individual is able to support him/herself and any dependents with his self-employed income as a

  1. Farmer
  2. Athlete or
  3. Artists (Radio, TV, Stage, Film and other artisans)

Processing times: Currently, the processing times are 35 months for investor category and 84 months for entrepreneur class.

3. PROVINCIAL NOMINEE CLASS (Business/Farming/Investor Stream)

Under Federal Investor’s and farming business programs, a net worth of $1.6 million is required, but under the Provincial Nominee Program it is in the range of  $300,000 to $800,000, depending upon the province.

For a comparison of all provinces with respect to net worth and other requirements, CLICK HERE.

See here an an example of Saskatchewan Business Class Immigration.

4. QUEBEC BUSINESS CLASS

Click the above link to know

Author Parminder Singh LL.B (Canada)

REFERENCES

Immigration and Refugee Protection Act Regulations

[vii] R 88, 90, 97, 100: Business Class (Investors, Entrepreneurs, Self-employed persons)