September 08, 2022
Which Visa Can I Obtain by Means of Canadian Business Immigration?
- By Benoit Desjardins
- Canada Federal Programs, Canada Provincial Nominee Programs, canada business immigration
Interested in applying for permanent residence through a Canadian business immigration program? You’ve got some important choices to make.
For most foreign national entrepreneurs interested in establishing themselves in Canada, the process is twofold; first, they must obtain a Canadian work permit via one of Canada’s business immigration programs, and then submit an application for Canadian permanent residency.
Canada’s Start-Up Visa program is the only federal business immigration program which offers a direct pathway to permanent residence and is a great option for those with an innovative business idea who are interested in establishing a business in Canada.
The right pathway for you will ultimately depend on your immigration goals and your professional qualifications.
1. Obtaining PR through Canada’s Start-Up Visa program
If you’re interested in applying directly for permanent residency, the Start-Up Visa program is likely your best bet. This business immigration program is hugely popular among foreign entrepreneurs, and for good reason. The Start-Up Visa program offers a direct pathway to Canadian permanent residency. In addition to this, unlike many other immigration programs, the Start-Up Visa offers you the option to reside anywhere in Canada once your PR has been issued.
In order to qualify for the SUV program, you must:
- Have an innovative business plan
- Demonstrate your proficiency in English and/or French
- Provide proof of funds to support yourself during your stay
- Obtain a letter of support from a designated organization
If you don’t meet these requirements, do not worry. There are plenty of other business immigration programs you can apply for.
2. Obtaining PR through another Canadian business immigration program
When you apply through another business immigration program, you will first be granted a Canadian work permit. This permit gives you permission to enter Canada for a limited durationt, either to manage your own business or to work for a Canadian employer.
The vast majority of work permits are closed work permits. This means that you cannot accept work from any other employer, and that you must retain the job specified on your permit or focus on your proposed business plan in order to fulfill the requirements of your work permit and remain in Canada.
Once you have at least 12 months of Canadian work experience, your eligibility for permanent residence greatly increases. First of all, you can qualify for the Canadian Experience Class stream of the Express Entry system. This stream has less stringent requirements compared to the Federal Skilled Worker stream, which places more weight on criteria such as age and education level.
Express Entry ranks you against other candidates based on a comprehensive ranking system (CRS). This score takes into consideration your ability to contribute to the Canadian economy, your English and French language skills, education, work experience, and age. This is where your work experience can give you a significant advantage, as it may boost your CRS score by up to 250 points. This can mean the difference between making the cut-off for the next Express Entry draw, or not.
As a foreign entrepreneur, you have many options when it comes to obtaining a visa through one of Canada’s business immigration programs. One of the best things you can do to increase your chances of success is to work with a qualified immigration lawyer. At Desjardins Lawyers, we work with clients every day to simplify the immigration process and give them the best possible chance of success.