Mid-range net worth individuals with suitable entrepreneurial experience may be eligible to apply under one of many Provincial Entrepreneur programs.
Each province manages its own entrepreneur programs and generally follow a multi-step process to permanent residence. Applicants submit an expression of interest and wait for an invitation to submit an application. Selected candidates submit a complete application which is assessed by the province’s immigration authorities. If approved, candidates are generally required to sign a Performance Agreement and apply for a work permit and enter Canada as a worker at first. If the Performance Agreement requirements are met at the end of a designated period, candidates receive the provincial nomination. Based on that selection or nomination, they may apply to Immigration, Refugees and Citizenship Canada (IRCC) for permanent residence.
The majority of these provincial business immigration programs require active participation in the management of a business based on a specified investment and job creation. The programs vary in the requirements to qualify but generally refer to a minimum net worth in the range of $500,000 CAD to $600,000 CAD, with relevant management experience. Some of the programs require a goodwill deposit which is refundable once the business has been established. Under provincial nominee programs, applicants first apply to be nominated by a province, and on the basis of that nomination may obtain permanent residence following federal health and criminality checks.
How to Buy a Business and Move to Canada
Prince Edward Island
North West Territories