Canadian Entrepreneur Visa
The Canadian Entrepreneurship Visa is one of the safest ways to immigrate to this country. The amount of capital required for this program varies depending on the region you choose and starts at $100,000 CAD, with no set ceiling. In larger cities and provinces, you will need more capital. For example, in small towns in British Columbia, at least $100,000 is enough, but in larger provinces like Ontario, this figure starts at $200,000, and in a metropolis like Toronto, it is usually above $600,000.
Steps to obtain an entrepreneur visa
The process of obtaining this visa begins with the submission of an initial application. Once reviewed and approved, the application becomes a work visa that allows the applicant to enter Canada and start working. At this stage, the individual must employ a Canadian citizen for a period of one year. After this period, by providing documents and proving the fulfillment of obligations, the applicant’s name is placed on the list of candidates for permanent residence. The steps in summary include:
- Gathering evidence
- Developing a business plan
- Obtaining a work visa to enter Canada
- Applying for permanent residence
Entrepreneur Visa Requirements in Different Provinces
The minimum capital requirement starts at $100,000, but other requirements such as education, age, work experience, and language skills may vary from province to province. Here are some examples:
Ontario Province:
Ontario, Canada’s most populous and economically active province, is home to cities such as Toronto, Ottawa (the capital), Hamilton and Kitchener. To obtain an entrepreneur visa in this province, a minimum of $100,000 in capital, 2 years of management experience and a CLB 4 language score are required. An educational qualification is considered valuable, but there is no age limit.
Prince Edward Island: This small province, centered in Charlottetown, requires a minimum of $150,000 in capital, 3 years of management experience, a high school diploma, and a CLB score of 5. Applicants must be between 21 and 59 years old.
Nova Scotia: Nova Scotia is a small province with its capital in Halifax. The requirements include $150,000 in assets, a high school diploma, a CLB score of 5, and ages 21 to 55.
New Brunswick: With a population of about 770,000 and cities such as Saint John, Fredericton and Moncton, this province requires $150,000 in capital, 3 years of management experience, a high school diploma and a CLB score of 5. The age limit is 22 to 59 years old and the official languages are English (65%) and French (35%).
Key points in obtaining an entrepreneur visa
- Understanding the regional conditions: Having sufficient information about the business in the chosen province increases the chances of success. Strengthen your strengths and eliminate weaknesses. Mastery of the desired activity is essential.
- Language skills: A minimum CLB score of 5 (equivalent to IELTS 5) is required, but a higher score increases the chances of acceptance. Language enhancement is recommended.
- Business Type: Manufacturing projects have higher priority and higher acceptance rates than activities such as exports and imports.
- Business plan: A business plan is like a contract that must be executed accurately. Profit or loss does not affect the settlement, but rather the fulfillment of obligations is important.
- Coordination with the plan: Your activity must be consistent with the documents submitted to the government, and changing jobs is not allowed.
