Business Immigration Canada
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Globalization of the world’s economy makes it essential to build and strengthen international commercial ties to stay on top of international economic trends. With favourable legislation, and a clear and easy-to-comply-with taxation system, Canada attracts business-minded individuals from all over the world to settle and invest in our economy.
The need for building businesses and developing new economic ties has been recognized by the government, and as a result, the Business Immigration Program has been enjoying special focus and attention from the IRCC, with the aim of facilitating the process. The Business Immigration Program exists both as a federal immigration program and Provincial Nominee program (link over to OINP business section), depending on where the interested party is planning to settle and operate.
Expand Your Business to Canada (ICT)
If you want to set-up your company’s operations in Canada and obtain a Canadian work permit for yourself or your team members, you should consider (ICT) program. The ICT program allows foreign companies to expand to Canada and transfer their staff members (executive, managerial or specialized knowledge employees) to work in Canada. To be eligible for this program, both the expanding company and the applicant must meet a number of requirements as discussed below.
Getting a work permit may take approximately 2-4 months depending on your country of nationality and a number of other factors.
Below are the steps to follow in order to expand your business to Canada.
Check if your company is eligible to expand to Canada under the Intra-Company Transferee Program
Not all business owners can move their companies to Canada. There are multiple requirements that both the expanding companies and the chosen applicants must meet to benefit from the provisions of the ICT program.
Requirements for Foreign Companies:
- Active engagement in business: your home company must be fully operational and currently engaged in doing business (selling services or goods, having employees, customers and generating revenue).
- History of operations: your company must be at least 1 year old. The older the company, the more support it can lend to your application.
- Sufficient gross revenue: your company must have sufficient revenue to fund the expansion to Canada.
- Availability of liquid funds to expand: while there is no minimum amount to operate a business in Canada, your company should be able to demonstrate sufficient funds to finance operations in Canada. We recommend setting aside at least CAD $100,000 to sustain the business during the first year of operations.
Start-Up Visa Program
- Start-up businesses have been an important part of the Canadian economy for over a decade. Whether they develop into a multinational corporation or continue to operate as local mid-sized business, they are considered to be important in overall Canadian economic growth, helping to turn innovative ideas and new technologies into profitable enterprises and creating employment opportunities for new talent.The Start-up Visa program is open to immigrant entrepreneurs who can demonstrate potential to build a business based on an innovative idea, or using cutting-edge technology in Canada.In order to apply for the Start-up Visa Program, the business must meet the following requirements:
- Be based on an innovative idea or technology
- Have confirmed intention to invest in, from a third party, the amount of $75,000 CAD
- Confirmed investment intent of at least $200,000 CAD from a venture capital fund
- Confirmed acceptance by a designated business incubator
Self-Employed Persons Program
The self-employed labour sector is a rapidly growing segment of the Canadian labour market. It becomes increasingly popular as it offers a certain flexibility and contract opportunities with multiple business partners and employers allowing the self-employed workforce to control income and work time.
The IRCC recognizes the importance of the self-employed workforce for the labour market in Canada. To be able to qualify as a self-employed person, the candidate will have to demonstrate relevant skills, as well as the ability to support themselves and their dependents with their self-employed income (farmer, athlete, artisan, graphic designer, IT specialist).