Each of Canada’s business immigration programs has its own specific set of requirements which applicants must meet in order to be considered. You should know that simply meeting these requirements does not guarantee your application will be successful, but without them, your application may not be considered.
Although specific requirements vary from one program to the next, we’ve listed six which are likely to increase your chances of successfully immigrating through one of Canada’s business immigration programs.
Canada's Business Immigration Requirements
1. Minimum assets required
Provincial Nominee Programs require applicants to demonstrate that they have between $300K and $800K in personal assets. This money demonstrates to the Canadian immigration authorities that you have the funds to support yourself and your burgeoning business venture.
Federal programs such as the Start-Up Visa (SUV), Intra-Company Transferees program (ICT), and LMIA (Owner-Operator) do not have a minimum assets requirement, however, it’s still a good idea to have between $150 K and$600K to demonstrate you are capable of investing in your new business (depending on the program).
2. Minimum investment
Although not all programs have a minimum assets requirement, they all do require you to make a minimum investment into a Canadian business and the amount to invest would depend on the nature of Canadian operations and on the business intent you present. You should expect to invest anywhere between $100K to $600K depending on the program.
Not all of Canada’s business immigration programs require a specific level of education. However, with a post-secondary education or university degree, you will be qualified to apply for any program, thus increasing your odds of success.
4. Business experience
A proven record of your success in business is a valuable asset when applying to any Canadian business immigration program. Although not a requirement for all programs, having experience as a business owner or manager within the last five years would demonstrate your aptitude for business and that you possess the knowledge and skills it takes to run a successful business, thus increasing your credibility for any program you are applying for.
5. Job creation
One of the main incentives for the Canadian immigration authority to offer business immigration programs is to bring in qualified entrepreneurs who will establish businesses which will benefit the Canadian economy. This is something to keep in mind: when applying for any Canadian immigration program, you should describe how your business can positively impact the Canadian economy and provide jobs to Canadians.
6. Business involvement
No matter which business immigration program you choose, you need to be actively involved in the business. Immigration authorities expect you to play a key role in its operations. For this reason, you will be required to reside in Canada to manage the day-to-day operations of the business.
In addition to these requirements, you’ll want to ensure that you are working with qualified immigration lawyers such as those at Desjardins Lawyers, as this can dramatically increase your chances of success when applying through any of Canada’s business immigration programs.