No matter what type of firm you run, the pandemic has affected the operations of almost every company. Thankfully due to the decreasing COVID-19 cases in Canada, firms are looking to get back on their feet. If you’re planning to quickly set up your business in the country, now’s the righ time to get ahead of your competitors and stamp your authority in the Canadian market.
Yes, the Canadian Federal Immigration Entrepreneur Program was shut down in 2014, but before you lose hope, here are the three Provincial Nominee Entrepreneur programs that can help you set up a business in Canada.
British Columbia Provincial Nominee Program
It’s no secret that Canada is a business hub and aims to promote emerging entrepreneurs. One program introduced by the Canadian government to help business people is the British Columbia Provincial Nominee Program.
The program is an excellent way to attract potential investors into the British Columbia region and boost its economy. Before applying for the program, you must check its basic requirements:
- Net Worth: Applicants need to have a net worth between $400,000 to $800,000 to be eligible for the program.
- Initial Investment: You must make an initial investment of $200,000 to $500,000 to start the program.
Even if you meet all the requirements, the hustle doesn’t stop. You’ll get a work permit, and once your business starts to flourish, you’ll be eligible to apply for permanent residence.
Who said business is easy? It never is. But while you focus on your business, you wouldn’t want to get distracted with the legal jargon. This is why we recommend you opt for immigration lawyers to help you with the paperwork of the work permit and the permanent residency.
Manitoba Business Investor Program
Want to set up a business in Manitoba but don’t know how? You can go solo and do it all by yourself but keep in mind that it might take you an eternity to set up a business in Canada. An excellent alternative for you is to opt for the Manitoba Business Investor Program.
This investor stream helps foreign business people set up firms in Manitoba easily. Once your business shows signs of success, you’ll get a temporary work permit which will be followed by a permanent residence.
However, you’ll get all the perks if your firm fulfills the Business Performance Agreement conditions. Checking whether your firm has fulfilled all the terms can be a nightmare if you aren’t aware of Canadian law. You need to act smart and save your time by hiring business lawyers who can help you with legal paperwork.
Nova Scotia Entrepreneur Stream
Nova Scotia is an ideal location to kickstart your entrepreneurial dreams. With excellent infrastructure facilities and a top-quality transport system, you can smoothly run a business. However, starting your business in Nova Scotia without any assistance can be a challenge, which is why we recommend you go for the Nova Scotia Entrepreneur Stream.
If you want to apply for the Nova Scotia Entrepreneur Stream, you must check if you fulfill the following conditions.
- Age Limit: This program usually accepts candidates with business management experience and wants the applicants to be over 21.
- Net Worth: If you’ve got a net worth of more than $600,000, congratulations, you’re eligible for the program! The net worth limit is a little high to ensure individuals don’t struggle with finances once they open their business.
- Primary Investment: The program expects applicants to invest $150,000 at the start of the business, and once the firm starts growing, firm owners can look for external funding.
- Language Test: Canada is a diverse nation with communities residing from every corner of the world. To ensure all the communities live in harmony and communicate properly, the Canadian government for this program only allows business immigrants who can score more than five in the Canadian Language Benchmark test.
Hire Immigration Consultant To Get Entrepreneur Visa For Canada!
Looking to expand your business to Canada but don’t know where to start? Firstly, you’ll need a Canadian business visa to visit the country and analyze the market condition. If you’re filling up the visa application form for the first time, we know it can get tricky.
This is why we recommend you hire an immigration lawyer from Nanda and Associate Lawyers Professional Corporation. We’ve been helping our clients solve immigration legal issues since 2003, and currently, we’ve got a team of fifteen qualified lawyers that can help you deal with all the legalities.
You can reach out to our team for more details.
About The Author
The author is a business immigration lawyer working with Nanda and Associate Lawyers Professional Corporation for ten years. He has helped numerous clients acquire Canadian entrepreneur visas. He aims to continue helping clients solve legal immigration issues in Canada. His team of immigration consultants helps business people deal with all the legal paperwork. sprunki horror Endless Fun Awaits!
