Are you a small business owner looking to move abroad? If yes, don’t look any further than business immigration to Canada which offers by far the most benefits for international entrepreneurs.
Not only do Canada’s business immigration programs make it easy for business-savvy individuals to move to Canada and establish their businesses in the country, but taxes in Canada for small businesses are the lowest of all G7 countries!
Canada had cut taxes for small businesses from 10,5% to 10% in 2019. This means small business entrepreneurs can save up to $7,500 in federal taxes annually. With these extra savings, you as a business owner can really focus on improving and expanding your business in Canada, for example, you can reinvest in purchasing new equipment, develop new products and employ more people.
Business immigration to Canada sets you up for success because Canada actually wants your business to do well and flourish. The Canadian Federal Government has plans to grow the economy, create new jobs and improve international trade ties and business immigration plays a crucial part in making these goals a reality.
Now, you must be wondering: “How does business immigration to Canada work?” The most popular way to immigrate to Canada as an entrepreneur is through the Start-up Visa Program which is an investment-driven program. If your business plan is innovative, can create employment and is able to compete on a global level, then your chances of immigrating to Canada and starting your own business are promising!
Learn more about business immigration to Canada below. Or, let our expert Canadian immigration consultants explain the way forward. Simply, fill in the contact form below and we’ll do the rest.
Business Immigration to Canada
What is the Start-up Visa Program?
Similarly to starting a local business and receiving support and assistance from investors and business development consultants, the same counts for business immigration to Canada.
To qualify for the Start-up Visa Program, your business plan must first be approved by a designated Canadian investment organization that supports start-up businesses through the Start-up program. There are three designated organizations that may approve or decline your business plan, they are; Venture Capital Funds, Angel Investor Groups, and Business Incubators.
One or more of the groups/programs associated with these designated organizations must agree to invest a minimum amount in your business. However, they can decline your business proposal if they don’t think it will succeed in the Canadian market.
Minimum Investment From Designated Organizations
Venture Capital Funds Angel Investor Groups Business Incubators Minimum Investment: $200, 000 Minimum Investment: $75, 000 Must be accepted into a program Example Groups: 7 Gate Ventures, BCF Ventures, iNovia Capital Inc. Example Groups: Ekagrata Inc, York Angel Investors Inc, Oak Mason Investments Inc. Example Programs: NEXT Canada, LaunchPad PEI Inc, Platform Calgary.
Receiving a Letter of Support
Most importantly, if one of the above-mentioned groups and programs approve your business plan, you will receive a Letter of Support, which is a mandatory document among others to submit with your application for business immigration to Canada. Alternatively, you can apply for a short-term work permit with your letter to visit Canada for business purposes before applying for permanent residence.
A Letter of Support confirms that your business has backing from investors in Canada and that your business is innovative, globally competitive and that it will be successful, so much so that you’ll be able to expand and hire more employees.
Other important criteria to qualify for the Start-up Business Visa to Canada are:
- English or French Language Proficiency
- Have a Qualifying Business
- Proof of Settlement Funds
How Much Settlement Funds Are Needed for the Start-Up Program?
It’s important to note that you can’t rely on the profits of your business at first, nor can you apply for financial support from the Canadian government. When you arrive in Canada, you need to have a specific amount of settlement funds to support yourself and any dependants while you get your business up and running.
The new settlement figures below are in place as of January 1, 2020
Number of Family Members Required Funds in CAD 1 (single applicant) $12, 960 2 $16, 135 3 $19, 836 4 $24, 083 5 $27, 315 6 $30, 806 7 $34, 299 For each additional family member $3, 492
Business Immigration to Canada – A Success Story
Starting and managing your own business in Canada is a fulfilling and rewarding experience. Take it from Swiss-born chef, Chris Aerni. He is the proud owner of the esteemed Rossmount Inn, a fine dining restaurant in St. Andrews, New Brunswick.
Aerni settled in Canada in 1997 with his wife and was able to grow his business from 7 employees to 25 employees. He has since become an integral part of the St. Andrews community and has influenced the local produce significantly. Aerni is on the local advisory board and assists with the preservation and sustainability of the community’s aquaculture.
Why did he choose Canada? “It’s the beauty of the land. It’s the incredible products and seafood, that’s all brought us here. But it’s the people who kept us here,“ said Aerni.
(Immigration story: Government of Canada)
How We Can Help
From writing your business proposal, finding the right investors for your business to the many documents that are needed, business immigration to Canada is probably the most intricate process of them all.
But, it doesn’t have to be! Using the expert services of a Regulated Canadian Immigration Consultant (RCIC) who are authorized and trusted by the Canadian Federal Government to handle your visa and immigration application, will make the entire process faster, simpler, stress-free and not to mention – more successful!
We handle the paperwork while you focus on your business. All you have to do is fill out our contact form below to receive your assessment today and we’ll take care of the rest. It’s just that simple.