Many of Canada’s provinces have their own Provincial Nominee Program (PNP). A PNP allows a province to nominate an applicant for immigration to Canada to settle in that province, and based on the province’s economic needs.
Within those Provincial Nominee Programs, business immigration categories exist for individuals starting or investing in a Canadian business venture. The minimum investment and net worth requirements vary from province to province as each PNP business immigration program create the requirements that best suit that particular province.
Every PNP business immigration program requires the applicant to create a detailed business plan. The plan must explain the type of business being purchased or established, as well as detailed financial projections demonstrating the purchase of the business will benefit the local economy and labour market.
Another feature unique to all of the PNP business immigration programs is the requirement for business management experience. Certain provinces establish a minimum number of years of work experience in this capacity, ranging from 2 – 5 years of full-time experience. Other provinces state that it is a requirement but do not impose minimums.
All of the PNP business immigration programs require that the applicant participates in the day-to-day management of the business. In some cases, a performance agreement is required, which will impose other benchmarks or requirements. Each program also has additional selection criteria which range from language requirements to age requirements. With the exception of Ontario & Quebec, all of the other PNP business immigration programs have either optional or required government deposits, which ensures the applicant will make the investment that they committed to in their application.
Where the PNP business immigration programs differ is in the minimum net worth requirements, the minimum investment requirements and whether or not an exploratory visit is required. These are often the defining factors when determining the best program for you. Below is a table that illustrates the differences in the various PNP business immigration programs:
A minimum investment of C$250,000 is required for companies located in major cities such as Winnipeg or at least C$150,000 if the business is located in low population areas of the province. The investment must be in a qualified business and defined by the MPNP and in the proposed conditions must create at least one job for a Canadian citizen or a permanent immigrant in Manitoba (except for business owners and/or their close relatives).
Yes, A business survey must be done more than one year before sending an EOI.