Skip to content

How to Get Canada PR By Investment

    ~Advertisements~

    Canada is one of the most popular destinations for immigrants who want to enjoy a high quality of life, a stable economy, a multicultural society, and a welcoming environment. Canada also offers various immigration programs for foreign entrepreneurs, investors, and business owners who want to contribute to the country’s economic growth and innovation.

    One of the ways to immigrate to Canada is by investment. This means that you can obtain permanent residency (PR) status in Canada by investing in a Canadian business or starting a new one. PR status allows you to live, work, study, and access social benefits in Canada indefinitely. You can also apply for Canadian citizenship after meeting certain requirements.

    ~Advertisements~

    However, there is not a single program that allows you to get Canada PR by investment. Instead, there are several options that you can choose from depending on your profile, preferences, and goals. In this article, we will explain the main ways to get Canada PR by investment and the benefits and requirements of each option.

    Start-Up Visa Program

    The Start-Up Visa Program is a federal program that targets innovative entrepreneurs who have a viable business idea and can secure the support of a designated organization.

    A designated organization is a business group that has been approved by the Canadian government to invest in or support start-up businesses. There are three types of designated organizations: angel investors, venture capital funds, and business incubators.

    To qualify for the Start-Up Visa Program, you must meet the following criteria:

    • Have a qualifying business. This means that you must own at least 10% of the voting rights in the business and no other person or entity can hold more than 50% of the voting rights. The business must also be incorporated in Canada and conduct its main operations in Canada.
    • Get a letter of support from a designated organization. This is a document that confirms that the organization is willing to invest in or support your business. The minimum investment amount depends on the type of organization. For angel investors, it is $75,000 CAD; for venture capital funds, it is $200,000 CAD; and for business incubators, there is no minimum investment amount.
    • Meet the language requirements. You must be able to communicate in either English or French at a minimum level of Canadian Language Benchmark (CLB) 5 in all four abilities: speaking, listening, reading, and writing. You must take a language test from an approved agency and submit the results with your application.
    • Have enough settlement funds. You must prove that you have enough money to support yourself and your family members in Canada. The amount depends on the size of your family and is updated annually. For example, in 2023, you need at least $13,213 CAD for a single person and $26,426 CAD for a family of four.
    • Meet the health and security requirements. You and your family members must undergo medical exams and police checks to show that you are not inadmissible to Canada on health or criminal grounds.

    The benefits of the Start-Up Visa Program are:

    • You can get Canada PR by investment in a relatively short time. The processing time for the Start-Up Visa Program is usually 12 to 16 months.
    • You can bring your spouse or common-law partner and dependent children with you to Canada. They will also get PR status and enjoy the same rights and benefits as you.
    • You can choose any province or territory to live and operate your business in Canada, except Quebec. Quebec has its own immigration programs for entrepreneurs and investors.
    • You can benefit from the support and mentorship of the designated organization that backs your business. You can also access the Canadian market, network, and resources to grow your business.

    The drawbacks of the Start-Up Visa Program are:

    • You have to share the ownership and control of your business with the designated organization and possibly other partners. You may also have to comply with certain terms and conditions imposed by the organization.
    • You have to prove that your business idea is innovative, scalable, and competitive in the global market. This may be challenging for some entrepreneurs who have a more traditional or local business model.
    • You have to meet the high language and financial requirements. You may need to invest in language training and save up enough money to qualify for the program.

    Intra-Company Transfer Visa

    The Intra-Company Transfer (ICT) Visa is another federal program that allows foreign business owners to expand their business into Canada. The ICT Visa is a type of work permit that lets you work in Canada as a senior executive or manager of your own company or a related company.

    You can also bring your spouse or common-law partner and dependent children with you to Canada. They can get an open work permit and a study permit, which allow them to work and study in Canada without restrictions.

    To qualify for the ICT Visa, you must meet the following criteria:

    • Have a qualifying relationship with a Canadian company. This means that you must own or work for a foreign company that has a parent, subsidiary, branch, or affiliate relationship with a Canadian company. The foreign and Canadian companies must have a qualifying relationship, such as shared ownership, control, or management.
    • Have a qualifying position in the company. This means that you must work as a senior executive or manager of the foreign or Canadian company. A senior executive is someone who directs the management of the company or a major component of it, establishes goals and policies, exercises wide decision-making authority, and receives only general supervision from higher-level executives. A manager is someone who manages all or part of the company’s operations, supervises and controls the work of other managers or professionals, has the authority to hire and fire staff, and exercises discretionary decision-making authority.
    • Have at least one year of full-time work experience in a similar position. You must have worked for the foreign company in a similar senior executive or manager position for at least one year in the three years before applying for the ICT Visa. You must also intend to perform similar duties for the Canadian company.
    • Meet the language requirements. You must be able to communicate in either English or French at a level that is appropriate for your position and the industry you work in. You may need to take a language test from an approved agency and submit the results with your application, depending on the discretion of the immigration officer.
    • Meet the health and security requirements. You and your family members must undergo medical exams and police checks to show that you are not inadmissible to Canada on health or criminal grounds.

    The benefits of the ICT Visa are:

    • You can get Canada PR by investment after working in Canada for one year. You can apply for permanent residency under the Canadian Experience Class (CEC) program, which is a federal program that targets skilled workers who have Canadian work experience. The processing time for the CEC program is usually six months or less.
    • You can retain the ownership and control of your business in Canada and abroad. You do not have to share your business with any other partner or organization. You can also operate your business according to your own vision and strategy.
    • You do not have to meet any minimum investment amount or settlement funds requirement. You only need to have enough money to support yourself and your family members in Canada.
    • You can benefit from the Canadian market, network, and resources to expand your business. You can also access the free trade agreements that Canada has with other countries, such as the United States, Mexico, and the European Union.

    The drawbacks of the ICT Visa are:

    • You have to prove that your business has a qualifying relationship with a Canadian company. This may be difficult for some entrepreneurs who do not have any existing connections or operations in Canada.
    • You have to prove that your position is a senior executive or manager of the company. This may be challenging for some business owners who have a more hands-on or technical role in their business.
    • You have to meet the high language and work experience requirements. You may need to invest in language training and gain more experience in a similar position before applying for the ICT Visa.

    Provincial Nominee Program

    The Provincial Nominee Program (PNP) is a collection of provincial and territorial programs that allow each province and territory to nominate immigrants who can meet their specific economic and demographic needs.

    Each province and territory has its own PNP streams and criteria for entrepreneurs and investors who want to start or invest in a business in their region. Some of the PNP streams for business immigration are:

    • British Columbia Entrepreneur Immigration Stream
    • Alberta Self-Employed Farmer Stream
    • Saskatchewan Entrepreneur and Farm Category
    • Manitoba Business Investor Stream
    • Ontario Entrepreneur Stream
    • Quebec Immigrant Investor Program
    • New Brunswick Entrepreneurial Stream
    • Nova Scotia Entrepreneur Stream
    • Prince Edward Island Work Permit Stream
    • Newfoundland and Labrador International Entrepreneur and International Graduate Entrepreneur Categories
    • Yukon Business Nominee Program
    • Northwest Territories Business Stream
    • Nunavut Business Immigration Program

    To qualify for a PNP stream for business immigration, you must meet the specific criteria of the province or territory you want to apply to. The criteria may vary depending on the stream, but generally include the following:

    • Have a qualifying business. This means that you must own or invest in a new or existing business in the province or territory. The business must be active, lawful, profitable, and beneficial to the local economy and society. The minimum investment amount and ownership percentage depend on the stream. For example, in British Columbia, you must invest at least $200,000 CAD and own at least 33.3% of the business; in Quebec, you must invest at least $1.2 million CAD and own at least 25% of the business.
    • Have a business plan. This is a document that outlines the objectives, strategies, operations, and financial projections of your business. The business plan must be realistic, feasible, and aligned with the provincial or territorial economic and social priorities. You may need to submit your business plan with your application or present your business plan to a provincial or territorial immigration officer or a third-party validator. You may also need to attend an interview or an exploratory visit to demonstrate your commitment and readiness to start or invest in the business.
    • Meet the language requirements. You must be able to communicate in either English or French at a level that is appropriate for your business and the province or territory you want to apply to. You may need to take a language test from an approved agency and submit the results with your application. The minimum language level depends on the stream. For example, in British Columbia, you need at least CLB 4 in all four abilities; in Quebec, you need at least CLB 5 in listening and speaking and CLB 4 in reading and writing.
    • Have enough net worth and settlement funds. You must prove that you have enough personal and business assets and money to support yourself and your family members in Canada and to invest in the business. The minimum net worth and settlement funds depend on the stream. For example, in British Columbia, you need at least $600,000 CAD in net worth and $25,000 CAD in settlement funds; in Quebec, you need at least $2 million CAD in net worth and no settlement funds requirement.
    • Meet the health and security requirements. You and your family members must undergo medical exams and police checks to show that you are not inadmissible to Canada on health or criminal grounds.

    The benefits of the PNP streams for business immigration are:

    • You can get Canada PR by investment in a relatively short time. The processing time for the PNP streams varies depending on the province or territory and the stream, but it is usually faster than the federal programs. For example, in British Columbia, the processing time for the Entrepreneur Immigration Stream is usually 18 to 24 months; in Quebec, the processing time for the Immigrant Investor Program is usually 12 to 18 months.
    • You can choose the province or territory that suits your business and personal preferences. You can select the region that has the best market, resources, opportunities, and lifestyle for your business and your family. You can also benefit from the provincial or territorial support and incentives for your business.
    • You can have more flexibility and options in your business. You can start or invest in any type of business that meets the provincial or territorial criteria, such as manufacturing, retail, agriculture, tourism, or technology. You can also change your business plan or your business partner after getting the nomination, as long as you inform and get the approval from the province or territory.

    The drawbacks of the PNP streams for business immigration are:

    • You have to meet the specific and diverse criteria of the province or territory you want to apply to. You may need to do more research and preparation to find the best stream and region for your business and your family. You may also need to hire a professional consultant or lawyer to help you with the application process.
    • You have to commit to living and operating your business in the province or territory that nominated you. You cannot move to another province or territory without getting their consent or applying for a new nomination. You may also have to meet certain performance and reporting obligations to maintain your nomination and your PR status.
    • You have to compete with other applicants for a limited number of nominations. Each province and territory has a quota or a cap on how many immigrants they can nominate each year. Some of the streams are also based on a points system or a pool system, which means that you have to score high or rank high among other applicants to get an invitation to apply.

    Conclusion

    Canada PR by investment is a viable option for foreign entrepreneurs, investors, and business owners who want to immigrate to Canada and contribute to its economy and society. There are several ways to get Canada PR by investment, such as the Start-Up Visa Program, the Intra-Company Transfer Visa, and the Provincial Nominee Program.

    ~Advertisements~

    Each option has its own benefits and requirements, and you should choose the one that best suits your profile, preferences, and goals. You should also consult with an immigration expert or a lawyer to help you with the application process and ensure that you meet all the criteria and regulations.

    By investing in Canada, you can enjoy a high quality of life, a stable economy, a multicultural society, and a welcoming environment. You can also apply for Canadian citizenship after meeting certain requirements. Canada PR by investment is a great opportunity for you and your family to start a new chapter in your life.