November 10, 2020
Why Is the Cost of Business Immigration to Canada So High?
Canadian business immigration programs require candidates to invest a significant amount of funds, but the reasoning is justified. The easiest way to explain why business immigration is costly for applicants is to understand that these individuals and their family members are moving to Canada with the intent to purchase or create a business, as opposed to those interested in working as an employee.
Business Immigration Is a Channel to Help Create Your Company
When applying for a business immigration program in Canada, it means that you are going to start a business in Canada as an entrepreneur. The government of Canada requires applicants to invest their own funds to ensure that they have the means to support the activities of their new business.
These programs are essentially a pathway with which foreign businesspeople can buy or start a fully functional business; the minimum investment requirements are meant to guarantee that applicants can afford expenses such as legal fees, licensing, property rental costs, and more.
If an applicant lacks the means to pay for these mandatory expenses, they won’t be able to start or keep a business running. While there are many different Canadian business immigration programs to choose from, all of which require varying funding requirements from applicants, among our clients we have found the minimum investment into the business to be approximately CAN $175,000.
Some Business Immigration Programs require far higher investments from potential candidates (e.g. CAD $600,000 for the Ontario Entrepreneur Stream), while others are less. The specific stipulations for each of Canada’s many business immigration programs must be taken into account before applying, as foreign professionals should not focus solely on cost alone.
More Than Money: Investing in Your Business Provides a Wealth of Benefits
The cost of business immigration is an investment in your business so that you and your family can immigrate to Canada and start operating shortly after landing. Immigrating to Canada is like an added bonus to having the opportunity to run a business in Canada. Regardless of which program you choose to immigrate to Canada as a Businessperson, the important thing to remember is that you should treat the business immigration process itself as an investment.
Likewise, and the obvious goal of any business owner, if you are successful in your commercial endeavors, you could end up being quite profitable and making a substantial return on your initial investment. The money you put forth now to start your business in Canada may seem insignificant in comparison to the revenue it could generate for you in the near future.
Furthermore, you will have the luxury of knowing your family members are residents of a peaceful immigrant-friendly country that offers top tier standards of living, medical benefits, a renowned education system, and a growing economy. Ultimately, the cost of business immigration to Canada is not high. Your new business investment will benefit your family, children, and all your future generations to come: a value that is impossible to put a price tag on.
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