It is possible to get Canadian Permanent Residence and Citizenship through several business programs. Indeed Canada supports entrepreneurship. How can Business Owners do it?
Canada is the go-to place for starting or managing your current business. According to the World Bank, Canada achieved the top 23rd place for the ease of doing business. In addition to the lowest corporate taxes rates, Canada offers a highly educated workforce.
Accordingly, many business owners, investors, and entrepreneurs aim to become Canadian citizens every year. It is important to mention here that Canada does not accept passive investments, including real estate investments. This being said, there are many options for business owners, entrepreneurs and investors to make Canada their home by starting or buying an existing business.
So, initially, the business owner acquires a work permit, then applies for his Permanent Residency and finally the citizenship after meeting the following conditions:
- Having lived in Canada for a total of 3 years (or 1,095 days)
- File taxes
- Provide proof of profession in the English Language
- Pass the citizenship exam about Canadian history and citizens’ roles and duties.
Most candidates are normally aware of the Express Entry program. However, many do not qualify for the stream as it is geared toward young professional families with multiple languages and high academic achievements and Canadian work experience.
So do not lose hope. The business immigration program attracts business owners, senior managers and Entrepreneurs. It grants candidates 200 points for arranged employment in Canada.
Business Immigration Programs in Canada
Then, some of the most popular programs for business immigrants to settle in Canada and get citizenship through investment are:
- Intercompany Transfer (ICT)
- Owner Operator Work Permit (OOWP)
- Entrepreneurship program – Provincial Nominee Program
What is the Process of an Intercompany transferee work permit?
This program operates under the international mobility program. It is suitable for business owners overseas who wish to open a company’s branch in Canada.
The steps for this program include:
- Registration of a branch of the overseas business in Canada
- Apply for a work permit
- Operation of the business
Once the business owners gain Canadian experience, they move to the next step of obtaining a Permanent Residency.
How is the Process of the Owner-Operator Work Permit?
To immigrate through the Owner Operator Work Permit, Senior Managers and business owners must go within several steps:
- Establish or buy a company in Canada
- Apply for a work permit
- Operate the business during a specific time until it becomes sufficiently operational.
It takes between 12-18 months to go through all the steps before getting the Permanent Resident status in Canada for you and your immediate family members.
Here is the Step- by Step Guide:
Step 1: Buy or establish a business in Canada
There are four ways for business immigration candidates to invest in Canadian business:
- Starting a business from the beginning
- Buying shares in an active business (at least 33% or more depending on the program)
- Getting a franchise
- Buying an operational business
Step 2: Apply for a Work Permit
Once you established or bought a Canadian business, you will apply for a work permit. Different work permits are possible based on your background and immigration goals. They are:
- Intra-company transferee- ICT
- LMIA-based work permits
- Candidates under various free-trade agreements. This is limited to specific countries such as Mexico, Chile, Colombia, the USA, the EU, South Korea, Panama, Peru, Vietnam, Japan, Australia, New Zealand, and Singapore.
- Work permits for entrepreneurs and self-employed candidates.
Step 3: Activate your Canada Business
Upon arriving in Canada as a foreign worker with a work permit, you will need to operate your business for a specific period before applying for permanent residence. Then, the length of this time depends on your business type and your work permit.
Overall, your business must be operational before applying for the PR status. To be active, it should follow these features:
- Providing services and or selling goods or services to current customers
- Has a physical location in Canada
- Hire one or more Full-Time Canadian worker
- Hold all the required permits to operate the business
Step 4: Apply for Permanent Residence in Canada
Once your Canadian business fulfils everything mentioned above, the investor can apply for a Canadian Permanent Residency as the Manager of your company. To do it, the candidate will need to meet the following criteria:
- Pass police clearance.
- Have at least a high school degree.
- Get at least CLB 7 on your language level test.
- Don’t have serious medical issues.
Indeed, the Owner-Operator Work Permit is a good option, and it is a faster route. Accordingly, the investor receives the results of PR status between 12 -18 months, and it requires a minimum investment related to other business immigration programs. However, this pathway requires candidates to have a good language level. They must meet at least CLB 7.
- Written by:
Abeer AlTal
RCIC
