Immigrate to Canada by Investing : Business Immigration
Do you wish to immigrate to Canada? Are you planning to apply for business immigration to Canada? It yes, then you need to know the basket of benefits that you will get. Canada is one of the fastest flourishing G20 economies. With its well-planned business friendly environment it has always been the hotspot for the foreign investors. It is a country with the most skilled people available. So, let’s see what other benefits you are going to get:
- 13th most competitive economy and 12th most innovative country in world.
- Investors get market access to 14 countries based on 51 trade agreements.
- Lowest rate of interest on new business investment among G7. METR is 13.7%
- Federal GST is 5%, lowest among OECD.
- Political stability, lowest rate of corruption, Soundest banking system.
- Reduced net worth requirement of applicant to 300000$ and 100000$ for investment.
- No net-worth requirement for certain streams in business immigration.
- The costs of specified clean energy equipment are eligible for full tax write-off the year they are put in use in business.
- The cost of machinery and equipment for processing are eligible for full tax write-off the year they are put in use in business.
- Accelerated Investment incentive for all sectors of economy making large capital investments.
Above all, Canada is a beautiful country with ample benefits for investors and family and that’s the reason people prefer to immigrate to Canada.
Immigration to Canada
When we talk about business immigration to Canada or rather say immigrate to Canada, it is basically a program where the foreign nationals with business or managerial expertise and high net income apply for Canada Immigration Visa. On yearly basis, Canada welcomed approximately 250000 immigrants’ until 2019. The data for the year 2020 is expected to be approx. 350000, as suggested by Statista. To apply for business immigration, there are broadly two ways:
1. Business and Investor immigration: Provisional
Each province or territory runs their own business immigration to Canada program with their specifications known as Provisional Nominee Program (PNP). The stream varies based on entrepreneurial experience and requirement. Also application procedure and the qualifications vary but the successful applicants will receive a provisional nomination. The list of provinces you can migrate to start a business under the scheme is:
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Nova Scotia
- Ontario
- Quebec
- Yukon
- Northwest Territories
- Prince Edward Island
- Saskatchewan
2. Business and Investor immigration: Federal
When a self-employed person or a working professional is looking forward to establishing his business in Canada or is simply looking to invest his worth in a Canadian firm, then the designed Federal Immigration Programs are applied. These programs are designed to match skills and experience of the person willing to settle in the Province. The Owner/Operator Labour Market Impact Assessment (LMIA) is a path best suited for investors with a low net worth or who lack support of the designated organization.
The Federal scheme has broad three visa programs:
- Entrepreneur start up Visa Program
- Self-Employed persons program
- Owner Operator LMIA
The most popular among the programs is the owner-operator, which can be fulfilled. Considering the following scenario’s :
- New start-up business
- Complete Ownership change in existing Canadian Business
- Pending or Partial purchase in existing business
For all the Business Immigration programs the various points which are considered to help you immigrate are, broadly as under:
- Net worth and investment
- Business Experience
- Education
- Business Plan / Transition Plan
- Language Proficiency
- Exploratory Visit to the Province
- Immigration Interview
Why Immigrate to Canada through business immigration?
- Range of program options
- Range of investment suiting every pocket
- Quick path for immigration
- Only option for individuals above 40 years to immigrate to Canada
- Start earning from day one
- Save on education , child care and other benefits
- NAFT Agreement allow access to business market of USA and Mexico
- Government policies and regulations support new business
- Subsidy schemes benefit the new business startups.
- Excellent opportunities for trade and personal growth.
- Eligibility for Canadian citizenship within three years.
- Above all, the best country in the world to live in.
Conclusion : Canada is an excellent country for a skilled business professional to immigrate and live a happy like. With all the tax benefits, liberalized rules for business, government support and lucrative trade agreements, Canada is surely a place to invest for the business. So if you have decided, you need to find the right consultant for starting process to immigration to Canada through Business / Investing You can get in touch with Blue Planet Immigration who are one of the leading consultants and amongst the most preferred for Business Immigration to Canada. Contact them at info@blueplanetimmigration.com and call at +1-778-882-2806 or +1-778-847-7357 to know further details. Set-up a free consultations appointment / fill up a free evaluation form on their website. They “Make Canada Your Home “.
Provincial Nomination Programs: Settle in Canada’s Provinces
Canada, with its avidly welcoming federal programs, provincial nominee programs and excellent developmental, educational and healthcare systems, has constantly attracted immigrants. Their Provincial Nominee Program is a way of aiding aspiring immigrants, who are not in a position to satisfy the federal immigration requirements , obtain a PR visa. The Canadian territories and provinces that are a part of this program can choose nominees, who’re looking to work and settle in the provinces in consideration. Each different province and territory have a specified targeted occupations or “stream” that they’re looking for, and only those who have the required qualifications can receive a PNP nomination from that province. Some territories may target software professional , others may target media , banking people and some of them may target engineers , management professionals. The list is endless and varies from one province to the other. The application process depends on the stream , your primary occupation and may either be a non-express entry based offline process, or an online process, through the Express Entry system. A medical exam and police verification are mandatory in both the cases.
Offline non-Express Entry based process:
– Applicant must meet the eligibility criteria for the province that nominates them.
– Once the nomination offer is received, a hard-copy of the filled-out application form must be submitted
to the IRCC.
– Mandatory medical and police checks.
– Application processing time is longer than for the Express entry process.
Online Express Entry Process:
This can be done in 2 ways:
A) Directly go to the website of the province or territory you’re interested to settle in, and apply for
a nomination. This can be done when the applicant does not have an Express Entry profile created. If you get offered a nomination, create an Express Entry profile or update an existing one.
B) First create an Express Entry profile and choose provinces or territories you’re looking to settle
in.
If you receive a notification from any province, directly contact them. They’ll require you to apply through the Express Entry stream of that particular place and your PNP nomination will be awarded online.
All nominations offered under Express Entry are called “enhanced nominations” and their processing time will be 6 months or lesser. The provincial nomination process is faster, than it appears to be.
Things to keep in mind:
– The eligibility criteria for each territory or province varies, and can also change from time to time, with no notice.
– The Northern Territory of Nunavut and Quebec does not participate in the PNP.
– The documentation requirements vary from province to province and you need the help of an RCIC so that you do not make mistakes in the documents as that could cause you additional weeks to months to get your nomination.
SUMMARY:
Canada’s Provincial Nominee Program is an excellent initiative by the provincial government, to aid those seeking to work or settle in one of their territories or provinces. It makes it easier to obtain a PR visa from Canada. This can be applied for through both EE and non-EE methods. They follow a Comprehensive Ranking System (CRS), based on which nominees are chosen. Those with the highest CRS scores will be offered nominations first. However, being offered a nomination by one of the provinces or territories gets the applicant an extra 600 points of CRS. The eligibility criteria for the applied province or territory must be met. An Express Entry profile is mandatory ( at one stage or the other ) and needs to be submitted to ensure that the applicant meets the minimum eligibility criteria for Express Entry and the PNP.
Recent Comments