Canada Investor Visa

Overview

Potential investors have three different options. If you are applying for the Canada investor program, you can apply under:

• The Start-up Visa Program
•  The Provincial Nominee Programs,
•  The Quebec Immigration Investor Program.

Start-up Visa Program (SUV) 

The Start-Up Visa program allows international entrepreneurs to launch new businesses in Canada (outside Quebec). It seeks innovative business entrepreneurs who can boost Canada’s economy and create jobs.

It allows creative entrepreneurs to acquire permanent residency in Canada. They must meet the requirements, which include obtaining a supporting letter and financial investment from a Canadian venture capital fund.

You can also secure financial investment from an angel investor group or a designated business incubation company. You must secure at least $200,000 if it comes from a designated Canadian venture and $75,000 if it comes from a designated angel investor group.

Provincial Nominee Program (PNP)

The Provincial Nominee Program (PNP) is for foreigners with the skills and financial ability to contribute to the economy of a particular province in Canada. Each province has its eligibility requirements. This program is available to eleven provinces, excluding Nunavut and Quebec.

British Columbia PNP Entrepreneur Stream

The British Columbia Provincial Nominee Program (BC PNP) Entrepreneur Stream is a route for top, seasoned business executives and entrepreneurs seeking to invest in and establish a business in British Columbia (BC), Canada.

This program intends to attract individuals who can create jobs and boost the province’s economy. Once approved, you can enter British Columbia as a temporary resident with a work permit.

Once your business runs successfully, you can apply for permanent residency. As an applicant, you must have a personal net worth of CAD 600,000 and a business proposal.

Quebec Immigration Investor Program (QIIP)

The QIIP is a program under the Canada-Quebec Accord for foreigners who want to invest in Quebec. This program offers full-time employment opportunities to Canadian citizens after staying in Canada for a specified period. It provides economic benefits to the province.

As an applicant, you must indicate your willingness to stay in Quebec for at least one year after obtaining your work permit. You must show that you are not merely interested in using the program to gain permanent residency in Canada.

Comparison of Programs

The key differences in requirements, benefits, and costs between the Start-up Business Class, Provincial Nominee Programs (PNPs) and the Quebec Immigration Investor Program are outlined in the table below:

Start-up Visa

• Provide medical exam results to prove that you do not have a health condition that may endanger the public.
• Police certificate that proves you are admissible to Canada.
• An acceptable affidavit to prove that your translator is certified if your documents were translated into English or French.
• A certified photocopied document by an authorized person
• Your valid passport
• Language proficiency result. You must have a benchmark level of 5 in speaking, listening, reading, and writing in English or French. Your proof could be a copy of the Canadian English Language Proficiency Index Program (CELPIP), International English Language Testing System (IELTS), or Test d’Évaluation de Français (TEF Canada)
• You must have experience and skills in the business you intend to operate in Canada.
• You must provide a letter of support certificate from a designated person or organization. You require as little as CAD 75,000 from a designated Canadian organization to support your business.
• Proof of funds to support yourself and dependants, such as your bank statements
• You must have a business plan and be genuinely ready to manage a new business in Canada.

Quebec Immigration Investor Program

You must meet the eligibility conditions to invest in Quebec as a business immigrant. The eligibility requirements for the Quebec Immigration Investor Program (QIIP) include:

• You must sign an investment agreement with an authorized financial intermediary. The financial intermediary must make any investment or financial contribution on your company’s behalf.
• Your financial intermediary must invest CAD 1,000,000 over five years and contribute CAD 200,000 to Investissement Québec Immigrants Investisseurs Inc.
• You must have acquired managerial experience for at least two years, which must have been acquired five years before your application. Your managerial experience can be in any sector excluding payday loans, cheque-cashing, pledge loans or provision of sexually explicit products and services.
• You must show proof of your net worth, which must be at least CAD 2,000,000. This can include your bank statement, excluding donations received and declarations of your assets.
• Possess a degree that is comparable to a secondary school diploma in Quebec.
• Know how to speak French well (at least level 7). To show proof of your knowledge of French, you must show an acceptable French test or high school diploma result that is not older than two years.
• You must obtain a ‘notice of intent to select’ to apply for a work permit for you and any family member added to the application form.
• You must obtain an attestation letter demonstrating that you have learned democratic and Quebec values.

For Start-up Visa Program 

Step 1: Gather All Relevant Documents 

All required documents must be submitted. If documents are missing, a written note explaining the reason must be included in the application.

Step 2: Fill Out the Application Form

Complete the application form, sign it, and ensure the details are correct and accurate to avoid delay and rejection of your application. You must apply using the Canadian Permanent Residency portal. You must upload all supporting documents.

Step 3: Pay the Application Fees

You must pay your application fees. If you are travelling with your spouse, partner, or dependent children, you must pay an additional fee for each. You can pay your right to permanent residency along with your application fee.

You must also pay for your biometric, police, and medical exam reports. You can pay your fees by debit, credit, or Visa card.

Step 4: Submit Your Application

You must submit your application online on the Canada immigration website. You must include your processing fee receipt and upload all relevant documents.

Step 5: Get Your Biometrics Taken

Applicants between 14 and 79 years old must have their fingerprints and photos taken after receiving a confirmation letter from the Canadian immigration office.

Step 6: Wait for a Decision

Once your application is approved, you will be asked to send a photograph of your passport so that your confirmation of permanent residency (COPR) can be issued. A favourable decision also means receiving an entry visa to Canada.

For the Provincial Nominee Program

There are two ways to apply for PNPs: the express-entry or non-express-entry processes.

Application Through the Express Entry Process

Step 1: Check if You Are Eligible

The first step in this process is to ensure you meet the criteria for the province you are applying to. You can do this by checking the province immigration website. You must also be eligible for the express entry program.

Step 2: Get Nominated by the Province of Your Choice

To get nominated, you must contact the province you are applying to. You must also create an express entry profile and select the province of your choice. The province may send you a ‘notification of interest,’ and then you can apply for the notification.

Step 3: Update Your Express Entry Profile

You must receive a notification before you can update your express entry profile. Once you have done this, you will earn an additional 600 points, which will enable you to receive an invitation to apply.

Step 4: Apply for Permanent Residency

Once the province sends you an invitation to apply, you can apply for permanent residency online.

Non-express Entry Process

Step 1: Check if You Are Eligible

You must check the province website that interests you to be sure you are eligible for the PNP.

Step 2: Get Nominated

Apply to the province of your choice to get a nomination.

Step 3: Apply for Permanent Residency

Once the province nominates you, you can apply for permanent residency online.

Step 4: Take Your Biometrics

Successful applicants will receive a confirmation to take biometrics. You will also receive a confirmation of your Permanent Residency and a letter containing your details.

Quebec Immigration Application

Step 1: Fill Out the Mandatory Forms

You must fill out the forms on the Quebec immigration website and sign them. All forms must be filled in French. If your spouse is accompanying you, forms must be filled out on their behalf by the non-accompanying parent, including consent forms for your dependent child,

All documents accompanying the forms must be written in French or English or translated into French by a recognized translator if they are in another language.

Step 2: Pay Your Application Review Fee

For your application to be reviewed for permanent selection, you must pay the application review fee. No fees are paid for accompanying spouse, partner, or dependent children. This fee is not refunded if the application is rejected. The application review fee must be paid by post and Canadian bank draft.

Step 3: Send Your Application

Your complete application and payment receipt must be sent by mail to the immigration office in Quebec. Your supporting documents must be included in the application in one envelope.

Step 4: Attend an Interview

You may be asked to attend an interview if additional information is needed or to verify your application.

Step 5: Get a Work Permit

A notice of selection to stay in Quebec will be sent to you if you get a favourable decision. This notification will enable you to apply for a work permit if you are residing outside Canada. If you are already in Canada with your family, you will receive a Quebec selection certificate (CSQ). Your application will then be assessed.

Step 6: Register at the Quebec Airport

Register your presence once you arrive at the Quebec airport. You must take steps to integrate into Quebec society. Also, you must obtain your CSQ if you have not already done so. Thereafter, you can apply for permanent residency.

Role of Letters of Support

The Letter of Support is a prerequisite document for start-ups wishing to join the SUV program. The Canadian government has tasked designated organizations to support businesses by validating start-up concepts and their potential for success.

Without the letter of support, your application for a start-up visa will be rejected. Acquiring a Letter of Support provides several significant benefits:

• The validation of the business idea: The letter proves that experienced and seasoned investors or business incubators extensively examined and consented to the start-up’s innovative and promising business idea, lowering the risk of granting PR to entrepreneurs with possibly unsuccessful ventures.
• Professional evaluation: A designated organization knows how to analyze a start-up’s potential concerning market opportunity, competitive advantage, and scalability, providing important insight into its prospects and the entrepreneurs’ abilities.
• A commitment to the start-up: The Letter of Support shows that the designated organization believes in the start-up, supports any of your business projects, and is willing to invest time and resources to help it grow in Canada, boosting its odds of success as well as contributing to the Canadian economy.
• Mentorship and Support: Designated organizations frequently provide mentorship and networking opportunities to the start-ups they support, particularly those from Venture Capital or Angel investor groups. This can benefit entrepreneurs unfamiliar with Canada and its local business environment.

Common Pitfalls and How to Avoid Them

The following are some common mistakes that can be made during the application process and how to avoid them.

• Failure to provide all the needed documents: This is a common mistake in all immigration application processes. Numerous forms must be submitted, and you must complete all of them accurately. Irrespective of the program you choose, it is crucial to include all supporting documents.
• Language Deficiency: Language competence is a significant requirement for entering several Canadian immigration programs. Official examinations like IELTS and CELPIP are designed to examine applicants’ language abilities, and higher scores on these tests can considerably boost your chances of success.To avoid this difficulty, assessing your language ability appropriately before taking the test is critical. If necessary, you can also take language lessons to boost your abilities.
  Using credible information and taking practice examinations will help you discover and address your deficiencies. Remember that language proficiency is required not only for your immigration application but also for living and working in Canada.
• One of the most common mistakes made by Canadian immigration applicants is selecting the incorrect program.
  Canada has alternative immigration options, including the start-up visa and Provincial Nominee Programs (PNPs). Each program has unique prerequisites, ranging from language fluency and work experience to financial stability and provincial needs.To avoid selecting the incorrect program, conduct a detailed check to examine all possible options. The official website of Immigration, Refugees, and Citizenship Canada (IRCC) is a reliable source of accurate information.
• Using the wrong-sized photograph: There are specific requirements for passport photographs outlined by the IRCC for immigration applications. Ensure that your passport photo is current with the details stated.
• Misplaced business priority: Another typical mistake investors and entrepreneurs make is not aligning their business concepts with the “priority business sectors” stated for each province when submitting them to the provincial portal.
  You will likely make this error if you are ignorant of the province’s priorities. It is an easy mistake. This does not imply that if you are not in the priority, you will not get selected. It provides a better opportunity if you do not have the most substantial profile or require additional points. It is essential to visit the province website and confirm all necessary details before applying.
• Failure to include a cover letter: You must include a cover letter to introduce your application. The cover letter can also provide information or explanation for any circumstance beyond your control that may affect your application.

Overview

To identify the most promising business to invest in or establish in Canada, study the sectors expected to yield the highest profits. It is critical to thoroughly examine Canada’s market trends, technology improvements, and consumer demand. The following are some of the business sectors that may be of interest to you:

1. Technology and Innovation: Canada’s technology economy is thriving, and cities like Toronto and Vancouver are emerging as global innovation capitals. This area provides ample artificial intelligence, machine learning, cybersecurity, software development, and more opportunities.
   Startups are pioneering in fintech, health tech, and green tech, among other fields. Investing in a technology company or launching your own can yield significant returns. The government dramatically supports technology enterprises, making this sector more appealing for investment.
2. Healthcare: Canada’s healthcare business has always been robust, but the present global health crisis has highlighted the need for innovative healthcare solutions. With the older population growing and increasing daily, there is a need for healthcare services, and this industry has a high-profit potential.
   Businesses can invest in telemedicine, innovative medical technologies, private clinics, home healthcare services, and other initiatives. Biotechnology and pharmaceutical businesses working on vaccine development and gene therapy are other viable prospects.
3. Agriculture and Food Production: Canada has a strong and wealthy agricultural heritage, and the food and agriculture industries continue to offer numerous opportunities. As consumers become more aware of the origins and techniques of food production, there is an increased demand for organic and locally sourced items.
   Investing in organic farming, founding a specialty food business, or creating sustainable food processing and packaging solutions are all viable options. Restaurants with farm-to-table themes and health-conscious meals are also typical. This business offers numerous opportunities and is relatively easy to set up.
4. Green Energy: Clean and sustainable energy sources are becoming increasingly popular. Canada’s green energy business is widely recognized around the world. The country’s geographic location makes it suitable for producing solar and wind energy, and it is a significant generator of hydroelectricity.
   Building energy plants is not the only strategy for investing in this market. Opportunities exist in developing new technologies, manufacturing solar and wind turbine equipment, and supplying consultancy services to businesses transitioning to renewable energy.
5. Finance and Fintech: Canada has a stable financial system, making it a good site for finance-related businesses. However, traditional finance is not the sole choice for investing. Fintech (financial technology) is changing how people manage and use money, and this industry has enormous innovation potential.
   Companies providing digital payment solutions, online lending platforms, robo-advisors for investing, and blockchain technologies are rapidly expanding.
6. E-commerce: The digital economy has fuelled the expansion of the e-commerce industry, which has grown highly profitable globally. Canada also follows this trend, with more consumers choosing internet shopping for convenience.
   Many individuals value the convenience of online buying. Starting an Internet business, such as retail, technology, or services, usually requires a lesser initial investment than a traditional brick-and-mortar business.
   This makes it an appealing choice for aspiring entrepreneurs. Businesses can also investigate the potential of logistics and delivery services. Numerous investing alternatives are available, making it simple to get started.
7. Waste management: The waste management industry deals with waste collection, waste recycling, and disposal services. With Canada’s increasing population, this industry is expected to grow over $64.22 billion by 2030.
   New technologies have been developed to convert waste into valuable energy. Potential foreign investors can explore this aspect of waste management.

Choosing the Right Business

Canada welcomes foreign investment. As a potential investor, you should identify gaps in Canada’s economy before investing. You should consider your work experience and the cost of investing. Each province has its individual needs, which may be prioritized when nominating an applicant.

Before applying, it is essential to check the province’s website and research its needs. For instance, Quebec offers promising opportunities in technology and innovative ventures, which applicants can take advantage of.

Startup / Organizational Capacity Risks

There is a chance that investing in Canada won’t allow you to hire and retain a highly qualified and influential workforce quickly.

Economic Risks

You may experience fluctuations in investment value caused by economic changes or changes in the Canada Investment Visa program.

Financial Demands

The Canada investor visa program is for individuals with high net worth. For instance, to invest in Quebec, you must have a net worth of at least CAD 2,000,000.  This has posed a challenge for individuals who desire to invest in Canada.

Language Barrier and Cultural Differences

Speaking English and French (Canada’s two most widely used languages) is often essential for effective interaction with clients, navigating the business space, and gaining access to vital resources necessary for business establishment and success. Foreign entrepreneurs may struggle to overcome language barriers and adjust to cultural norms.

Complicated Application Process

Applying for a Canada Investment Visa program requires detailed documentation and strict compliance with guidelines. All supporting documents must be attached, and the forms must be filled out accurately.  You must also prove that you are willing to stay in Canada and have the experience to work or start a business there.

Lack of Knowledge of Canadian Business Practices

Understanding the legal, regulatory, and tax requirements for running a business in Canada can be challenging for foreigners, which could result in missed opportunities or compliance problems.

Mitigation Strategies

Do Proper Research: To be prepared for the challenges, conduct thorough and proper research to familiarize yourself with the Canadian business space, market trends, and regulatory requirements.

Develop a Comprehensive Business Plan: A thorough and convincing business plan detailing your market strategies, financial forecasts, and investment plans is essential.

Seek Professional counsel and Guidance. Collaborate with knowledgeable immigration attorneys and business consultants to ensure you fulfil the program’s requirements and reduce risks. Our lawyers at Total Law can help ensure that you meet the requirements.

Steps to Apply for Canadian Citizenship

Step 1: Calculate Your Presence in Canada

Use the online calculator on the Canada immigration website to calculate your physical presence in the country. You must include all the time spent outside Canada in three years. You must print out the form. You must also ensure that the application form and online calculator printout have the same date.

Step 2: Gather Your Documents

You must assemble all relevant documents. These documents include:

•  The online physical presence calculator printout.
• Coloured photocopy of all pages of your travel documents or passport
• You must show two photocopies of your personal identification, such as your driver’s licence, health insurance card, or the biographical page of your passport.
• Evidence of your proof of English or French if you are 18 to 54 years old, such as a certificate showing the language of instruction as English or French.Two citizenship photos that are identical and meet the specifications.
• Photocopy of an adoption order or birth certificate for minors
• Photocopy that the parent is a Canadian citizen, if applicable for minors
• Proof of guardianship for minors
• The application fee receipt.

Step 3: Fill Out the Citizenship Application Form

Complete the application form and submit it. You must attach an acceptable translation if your documents are not in English or French. You must ensure that your photocopied documents are certified true copies.

Step 4: Pay the Fees

You must pay your application fee via debit, credit, or Visa card. The fee must also be paid online via the IRCC website and print your receipt. The citizenship fee is shown in the table below:

Children are not required to pay the right of citizenship fee. For adults who pay the right of citizenship fee and are denied from being a citizen, the right of citizenship fee of $100 will be refunded. The application fee for both adults and minors will not be refunded.

Step 5: Submit Your Online or Paper Application

You must submit your application through the mail or courier address provided on the IRCC website. If you are submitting the application for more than one person, such as your spouse and dependents, you must package all the applications in one envelope.

The officers will review your application and send you an acknowledgement receipt and citizenship study guide if your application is complete.

Step 6: Prepare for Your Test/ Interview

You may be invited for an interview before the IRCC officers decide on your application. Children below 18 years must be accompanied by the person who applied on their behalf.  Adults from 18 to 54 years old must prepare for a citizenship test and interview. The citizenship study guide will help you prepare for the test.

Step 7: Take the Oath

Minors from 14 years old and adults are required to take a citizenship oath at a ceremony. You can request an oath waiver due to compassionate circumstances.

Dual Citizenship Considerations

The benefit of being a Canadian citizen is that you are allowed to have multiple citizenship. Not all countries accept dual citizenship, and this can be a challenge. Some other challenges include paying double taxes and following both country’s legal and travel obligations