November 30, 2021
Advantages and disadvantages of Canada’s business Provincial Nominee Programs (PNPs)
If you’re an entrepreneur with an interest in immigrating to Canada, you’ve probably heard of Provincial Nominee Programs (PNPs). With most Canadian provinces operating some kind of PNP, odds are good that you’ll find one that corresponds to your particular skill set. The Canadian job market is thriving, and the birth rate remains low, meaning that Canadian provinces are in constant need of an influx of talent and skill to fill the gaps.
Many of Canada’s provinces operate several streams within their PNP, including those that specifically target business people who are interested in starting a new business, or investing in an existing Canadian business. If you’ve got the right skill set and experience, this could be an excellent route to expanding your business experience on an international scale while working towards obtaining Canadian permanent residence.
Let’s take a closer look at the advantages and disadvantages of applying through Canada’s PNPs.
The advantages of Canada’s PNPs
One of the main advantages of submitting an application through a Canadian PNP is that, should your application pique the interest of the selection committee, you have a strong chance of obtaining Canadian permanent residence.
Certain PNP streams specifically target business people who are looking to start a business in Canada, or are interested in investing in an existing business. If you’ve got an entrepreneurial background and a solid business plan, it could very well land you a provincial nomination.
If you meet the eligibility requirements of the specific stream that you are applying to, you will then receive a nomination from the province. With this nomination in hand, you can submit an application to the federal government for Canadian permanent residence and this application is virtually guaranteed to be approved, making this a very appealing option for anyone who qualifies through one of Canada’s PNPs.
The disadvantages of Canada’s PNPs
Canada’s PNPs can present a wealth of opportunities for the right candidate, however there are some downsides to consider as well.
Firstly, the application process is two-fold; you’ll need to apply at the provincial level and then again at the federal level. This lengthens the process can test an applicant’s patience, leaving greater room for complications to arise.
Another important consideration for anyone applying through a PNP is that you within the province through which you are applying. You’ll want to make sure that this province offers the best possible opportunities for your business, and that you and your family will be happy there for the long term. If not, you may want to reconsider immigrating through a PNP.
Fortunately, there are many through which you can immigrate to Canada and obtain permanent residence, many of which are far simpler than Canada’s PNPs. For example, you could apply for a work visa through one of Canada’s business immigration programs, such as the Owner/Operator LMIA, Intra-Company Transferee program (ICT), or C-11.
By securing a work visa through one of these programs, you’d be in a good position to apply for Canadian permanent residence through the Federal Express Entry system, known as Canada’s fastest and simplest route to permanent residency. It would also allow you to move freely within Canada without your status being tied to a particular province.