Many of Canada’s provinces have their own Provincial Nominee Program (PNP). A PNP allows a province to nominate an applicant for immigration to Canada to settle in that province, and based on the province’s economic needs. Within those Provincial Nominee Programs, business immigration categories exist for individuals starting or investing in a Canadian business venture. The minimum investment and net worth requirements vary from province to province as each PNP business immigration program creates the requirements that best suit that particular province.
Every PNP business immigration program requires the applicant to create a detailed business plan. The plan must explain the type of business being purchased or established, as well as detailed financial projections demonstrating the purchase of the business will benefit the local economy and labor market. Another feature unique to all of the PNP business immigration programs is the requirement for business management experience. Certain provinces establish a minimum number of years of work experience in this capacity, ranging from 2 – 5 years of full-time experience. Other provinces state that it is a requirement but do not impose minimums.
All of the PNP business immigration programs require that the applicant participate in the day-to-day management of the business. In some cases a performance agreement is required, which will impose other benchmarks or requirements. Each program also has additional selection criteria which ranges from language requirements to age requirements. With the exception of Ontario & Quebec, all of the other PNP business immigration programs have either optional or required government deposits, which ensures the applicant will make the investment that they committed to in their application. Where the PNP business immigration programs differ is in the minimum net worth requirements, the minimum investment requirements and whether or not an exploratory visit is required.
Canadian immigration comprises of various programs. Contact us today for full details about how we can work with you based on your profile. We are glad to discuss your immigration-related questions or queries.
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