Canada investor immigration - citizenship through investment

Canada

Citizenship by Investment

Become a Permanent Resident as a Business Owner. Canada is a great place to do business. According to the World Bank, Canada is ranked 23rd in its ease of doing business index. Canada has a highly-educated workforce and offers one of the lowest corporate tax rates in the world. There are multiple streams through which Businessman/ Investors/ Entrepreneurs can acquire permanent residence of Canada, however it is a multiple step process explained as below:

STEP 1: BUY OR ESTABLISH A BUSINESS IN CANADA

There are 4 ways for foreign investors to invest in a Canadian business:

1. Start a business from scratch:

Cost: $50,000
Time to operate before PR application: at least 12 Months
Conditions for PR application: active company in Canada, commercial office required, at least one Canadian employee and 12 months of operation.

2. Buy an operational business:

Cost: $150,000
Time to operate before PR application: no minimum requirements
Conditions for PR Application: ownership of 51% shares, active company and at least 1 Canadian employee

3. Buy shares in an operational business (at least 33% or more):

Cost: $100,000
Time to operate before PR application: no minimum requirements
Conditions for PR Application: company existed for at least 12 months, currently active and company has sufficient funds.

4. Buy a franchise of already established business:

Cost: $100,000
Time to operate before PR application: no minimum requirements
Conditions for PR Application: active company and at least one Canadian employee.

STEP 2: APPLY FOR A WORK PERMIT

Once you have registered or purchased a Canadian business, you can apply to obtain a work permit as a business immigrant. Based on your background and immigration goals, several different work permits are available. They include the following:

LMIA-based work permits; including Owner-Operator.
Intra-company transferees (“ICTs”).
Investors under free-trade agreements. This is specifically for citizens of Mexico, Chile, Colombia, USA, the EU, South Korea, Panama, Peru, Vietnam, Australia, New Zealand, Japan, and Singapore.
Work permits for entrepreneurs and self-employed candidates (C11).

STEP 3: OPERATE A BUSINESS

Upon arriving in Canada as a foreign worker, you will need to operate your business for a specific period before you can transition to permanent residence. The length of operation depends on the type of business you have (i.e. established or new) and your work permit type.

Is actively selling goods or services to actual and existing customers
Has all licenses and permits necessary to operate in Canada
Must have a physical location within Canada
Has at least one Canadian employee apart from you and who is not related to you

STEP 4: APPLY FOR PERMANENT RESIDENCE IN CANADA

Once your Canadian business is active, as mentioned earlier there are multiple streams under which you can apply for permanent residence.

You can apply for PR as the manager of your business subject to you having minimum high school education, minimum CLB 7(6 band each in IELTs) as language skills, no criminal conviction, and no major medical issues.

You can get provincial nomination from the province of your interest. All provinces have entrepreneur/investor streams and vary in criteria and requirements. Once you apply to the province and pass the interview, you will apply for the Canadian work permit. When you arrive in Canada as a foreign worker, you’ll establish your company and operate your business according to the performance agreement you had signed. Finally, you’ll apply for the nomination and subsequently, for permanent residence.

We can certainly help you to evaluate your options, simplify the process and put forth the next step towards your Canadian permanent residency. To become a permanent residence as a business owner, book your consultation today by filling the assessment form with Rightstep Migration.