Are you an entrepreneur and looking for the best ways to get Canada PR through investment? Then, go through this blog you will get tons of useful information. It includes the easiest ways to get through the immigration process, cost, and steps involved.
It’s no secret that finding a way to immigrate to Canada is difficult. With a million people trying to enter every year, you’re likely not going to just be plucked out of line at an embassy.
Unlike, seeking a way into Canada permanently, then investing in a business there could be your ticket into one of North America’s best countries.
Luckily, there are many different ways you can apply to PR (permanent residency) through investment in Canada, but many of them require an initial investment and some eligibility.
Strategy for Canada PR through investment
Buying Real Estate
In order to qualify as an immigrant investor, you’ll need to prove that you have enough money to invest in Canada. To be considered, you’ll need to show that you have a net worth of at least $1.6 million CAD. And that you can invest $800,000 of it in Canada.
Investors also need to prove that they have enough income to support themselves during their first three years in Canada.
Buying a business
If you want to invest in Canada by buying a business, you’ll need to plan on taking some time out of your life to work with your new venture. This option is generally recommended only if you are looking to stay in Canada long term and plan on spending most of your time there.
In order to qualify as an immigrant investor via business ownership, show that you can make a $400,000 CAD investment into your business. Also, commit to running it for at least three years after arriving in Canada.
You also must prove that you have enough income during those three years to support yourself and any dependents who arrive with you as immigrants.
What is Minimum Investment is required for Canada PR through investment?
There is good news for businesspersons. Canada has introduced two new programs on business immigration with some exciting news of minimum investment.
This relaxation in rules encourages foreign investors and at-home entrepreneurs to build their businesses and create jobs in Canada. At present, there are four categories of business program which require different minimum investments:
- $800,000 CAD under Provincial Nominee Program (PNP)
- $400,000 CAD under Start-up Visa
- $200,000 CAD under Quebec Investor Program
- $125,000 CAD under Business Skills Program (BSP).
The maximum term of holding these programs is 5 years with full access to all publicly funded provincial/territorial services such as health care and education.
Also Read: Canada Startup Visa Step By Step
Business immigration via PNPs
Unlike other immigration programs, many of which require you to have a job offer before getting a visa, Canada’s provincial nominee program allows eligible entrepreneurs and business owners to nominate themselves as permanent residents, based on their business plans.
2 More Ways to Qualify For Permanent Residency through Investment
If you decide to invest in a business or startup located in Canada, there are two main ways to become eligible for permanent residency.
Start-up Visa Program for Canada PR through investment
The start-up visa program provides entrepreneurs from all over the world access to a temporary work permit if they’re willing to put their money where their mouth is.
Applicants need to have access to enough seed funding in order to establish operations within Canada. Furthermore, demonstrate profitability within 12 months, and then potentially qualify for permanent residence under one of two streams.
Self-Employed Provincial Nominee Programs (PNPs)
PNPs exist throughout most provinces in Canada and vary slightly between each one depending on labor market needs and demographics. What makes these different from regular employment or student visas?
It has more to do with time spent in Canada than anything else. These visas require individuals to obtain self-employment status immediately upon entry and remain self-employed long enough to receive nomination from a provincial authority.
After achieving nomination, applicants may apply for permanent residence without having lived in Canada. So, potential candidates must complete form EOI 1345 IMM 0010B along with their application for consideration.
Some programs also require specific personal net worth or assets requirements. For example, Quebec’s Entrepreneurial Stream. Which stipulates an overall net worth requirement ranging from CAD $200K – CAD $800K depending on age & family size.
Also Read: Canada’s Self-employed Visa Program for PR
What Are The Benefits Of Investing In Canada?
Investing in Canada could be a great choice for any businessperson. It’s true that there are other ways to get a visa. For example, visa pathways are studying, marrying a Canadian citizen or getting hired by a company. But these can be more expensive and they often involve long waits.
As a permanent resident, you’ll be able to work anywhere in Canada. And travel freely to and from your home country. You will have access to all of Canada’s services and amenities, including free medical care in most cases.
Some permanent residents are eligible to apply for Canadian citizenship after living in Canada a certain number of years. Investing in Canada is a great way to improve your life while also giving back to your community. Plus, there’s no need to worry about dealing with any red tape.
What is Minimum Net Worth is required for Canadian business immigration?
To qualify for business immigration under investor programs, you must have a net worth of at least $1.6 million CAD. And that was obtained legally and lawfully gained.
This number may be increased in some circumstances if you are applying with your spouse or dependent children. Although, purchasing a property in Canada can also increase your chance of being approved.
If you wish to immigrate as an investor under Canada’s Federal Business Immigration Program (FBIP), you will be required to show evidence of funds. That minimum amount of capital has been invested into a passive asset such as stocks, bonds or mutual funds.
Business immigration is a highly popular option for many who are looking to move to Canada. It’s also one of the most direct ways of obtaining Canada PR through investment. Entrepreneurs who have a business they’d like to run in Canada. Otherwise, who want to start one, can apply as a federal investor, entrepreneur or self-employed person.
And with each program offering various benefits and perks, businessperson have plenty of factors to consider when choosing between them. However, there are a few similarities between these programs. To qualify, each has its own set of requirements that must be met.
To apply under investment immigration or self-employment, a foreign national will have to start a business. Otherwise, he/she will need to invest capital into a Canadian business that might generate revenue or create jobs.