In Canada, immigration plays an important role in economic growth. Besides increasing the skilled workforce, the country welcomes foreign entrepreneurs who can start their own businesses and create more job opportunities to aid in economic recovery.
Entrepreneurs can choose from temporary or permanent residence options. Listed below are the Canadian immigration programs business professionals can take advantage of to explore career opportunities in the country:
Temporary Work Permits
Entrepreneurs who prefer to enter and work in Canada temporarily can use a temporary work permit. Here are the pathways to achieve this:
- LMIA Work Permit
The Labour Market Impact Assessment (LMIA) work permit is designed for aspiring immigrants seeking to enter Canada to own and operate their own business. They must also prove that they can provide economic, cultural, or social opportunities for Canadian permanent residents or citizens. This means the business must be viable in the country and show potential for the advancement of its industry or development in the region.
- Treaty Investors
An LMIA-exempt work permit category for investors includes the Canada-United States-Mexico Agreement (CUSMA). This work permit may be available to American or Mexican citizens who plan to start a new business or purchase an existing one in Canada.
- Significant Benefit
The significant benefit work permit does not require applicants to prove ownership of the business. Instead, they must show that their presence in Canada would result in social, cultural, and economic benefits to Canadian citizens and permanent residents. Since the bar is quite high when applying for a work permit through this option, it must be used only when the benefits are clear and convincing.
Permanent Work Permits
Entrepreneurs seeking to work and live in Canada on a permanent and full-time basis have options for permanent residency. Here are some permanent residency application streams available to them:
- Express Entry
Express Entry is created for individuals planning to immigrate to Canada as permanent residents. It is a points-based system. The points will be calculated based on different factors, such as language proficiency, work experience, education, age, and more. Applicants must have enough points and qualify for a federal program.
- Start-up Visa Program
This visa program is specially created for immigrant entrepreneurs with the skills to build innovative businesses in Canada. These businesses must provide job opportunities for Canadian citizens and permanent residents.
- Self-Employed Persons Program
Entrepreneurs with relevant experience in athletics or cultural activities have the opportunity to immigrate to Canada permanently through the Self-Employed Persons Program. Applicants through this stream must prove their relevant experience in arts or athletics to become self-employed in the country.
- Provincial Nomination Programs
Business people who qualify for the set criteria can apply for a permanent residence through provincial nomination programs (PNPs). After nomination, applicants should make a second application to Immigration, Refugees and Citizenship Canada (IRCC). Finally, the Federal Government will assess the application results and submit acceptance letters to qualifying applicants.
Entrepreneurs can significantly contribute to job creation and the growth of the Canadian economy. If you are interested in exploring more business opportunities, it’s important to determine the best way to immigrate to Canada. Consider hiring an experienced immigration consultant for more information.
Avoid complications in your application by working with our immigration agency in Toronto. If you’re looking for professional help from a trusted firm, please contact us at firstname.lastname@example.org or call 1-888-404-8472.