Investor Program Aims to Stimulate Canada’s Economy
The potential of immigrant entrepreneurs has been enormously important in the creation of new ideas and new jobs. Canada has a lot to gain from inviting entrepreneurs, and provinces are taking the lead in recruiting them, which is where the Provincial Nominee Program (PNP) comes in. Canada’s Immigration lawyers play a critical role in enhancing the success of that process for their clients.
Entrepreneurs interested in exploring the Canadian market have a variety of opportunities to contribute to Canada, start a business or take over a business and resettle their families. While the specific requirements vary by province, most provinces will require the entrepreneur/investor to make an exploratory trip, prepare a business plan and submit it for provincial approval. Once that is obtained, the investor can proceed to implement his plan and put it into action. The assistance of a Canadian immigration lawyer with experience in this area is critical to ensure a detailed plan and the fulfillment of the relevant criteria.
Furthermore, most provinces will require 2 to 3 years of previous experience running a business within the last 5 years. The entrepreneurs’ involvement in daily management of the business is a requirement for most programs as well. Again, consulting with a Canada Immigration Lawyer will be critical to illustrate that the details of the client’s experience is effectively presented.
Ontario, Saskatchewan and BC also require that the new business will create several full time positions for Canadian citizens or permanent residents. Provinces with higher demand require a higher investment, for instance, Ontario’s minimum required investment is 3 million dollars, where at least 1 million has to come from the investor who wishes to settle in Canada.
Other provinces with smaller investment requirements, sometimes allot very few spots for investors and programs fill up quickly. For instance the Quebec entrepreneur program in 2015 had only 150 spots which filled up within a few weeks of the opening of the program.
Below you can find a chart of some of the main requirements for investor provincial nominee programs. Please note that this is only meant to serve as a general guideline and each program has further requirements. You may consult with your Canadian immigration lawyer for more detailed information regarding your specific situation.
You can right click this table and open in a new tab for a clearer image.