Investing in Canada to Gain Canadian Citizenship
SEP 14, 2021
Foreign investors are attracted to investing in Canada for many reasons including its large economy that offers plenty of opportunity and the fact that America is its neighbour which can create expansion for businesses across the border. Canada has the top six safest banks in North America, which also ranks in the Global Top 50 of the world's safest banks.
As a foreign business owner or investor in Canada, you can expect low taxes and business costs and a country rich in natural resources. Learn how to invest in Canada to gain Canadian citizenship.
How to Invest in Canada
Canada has several business immigration visas that aim to create new opportunities in the local market as well as help promote and develop Canada’s economy.
Start-Up Visa Program
The Start Start-Up Visa Program allows foreign nationals to start a business anywhere in Canada as well as to immigrate as permanent residents. Applicants who apply for this visa need to ensure their business is innovative, it creates jobs for the Canadian locals and is able to compete on an international scale.
To be eligible for the start-up program, applicants must:
1. Have a qualifying business
At the time the applicant gets a commitment from a designated organization:
- each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time, up to five people can apply as owners; and
- applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time.
2. Get a letter of support from a designated organization
Applicants need to get a letter of support from a designated organization. Applicants will need to:
- contact the designated organization to find out how to get its support;
- convince the organization that they have a business idea that is worth supporting; and
- get a letter of support.
Each organization has different pitches for the business idea, some organizations may ask applicants to pitch the business idea in person while others may ask for a detailed business plan.
The letter of support is important as an applicant’s application can be denied if they do not have it.
3. Meet the language requirements
This is important because the ability to communicate in English or French in Canada will help the applicant’s business succeed in Canada. Applicants will need to take an approved language test. They will need to meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all of these four areas:
- speaking; and
4. Bring enough money to settle
The Canadian government does not give financial support for start-up visa immigrants. The amount an applicant needs will depend on the number of people immigrating to Canada with them. The amount is as follows:
|Funds to Settle in Canada|
|Number of Family Members||Required Funds CAD|
|For each additional family member||$3,650|
The great advantage of the Start-up Visa Program is that applicants can apply for a temporary work permit to move to Canada and start working and building on the business while waiting for their application to be processed.
Applicants who would like to invest in Canada to gain Canadian citizenship can do so through the Start-Up Visa Program. Successful candidates will receive permanent residency and after five years they can apply for citizenship.
Provincial Nominee Program Entrepreneur Visa Streams
The Provincial Nominee Program (PNP) is an agreement between local provinces and the Canadian government, which allows the provinces and territories to nominate foreign nationals according to their economic needs. Almost all of the PNPs have at least one entrepreneur or investor visa stream where foreign nationals can receive Canadian permanent residency.
In this article, we will highlight the:
- British Columbia Entrepreneur Immigration; and
- Saskatchewan Entrepreneur Category.
|British Columbia Entrepreneur Immigration|
|Personal Requirements||Business Requirements|
|Saskatchewan Entrepreneur Category|
|Minimum Entry Criteria||Business Establishment Plan Requirements|
Why Invest in Canada?
Canada has six cities among the world’s top 100 best cities, it’s voted number one for quality of life and Canada has the most educated workforce in the world. If that’s not enough reason Canada also has 13 international airports, 17 seaports and 117 border crossings to the USA.
Most importantly foreign nationals can invest in Canada to gain Canadian citizenship.
Get in touch with us today, to see if you qualify for one of the over 100 immigration visas!