Canada – Provincial Nominee Entrepreneur Visa
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Provincial Nominee Entrepreneur Visa
This is an electronic based system that is designed to speed up the visa process and ensure a secure and straight forward method of securing a Canadian Provincial Nominee Entrepreneur Visa. This has been set up and is operated by the Citizen and Immigration Canada (CIC).
Which Canadian Provinces does the Provincial Nominee Entrepreneur Visa cover?
This visa applies to the following Canadian Provinces,Prince Edward Island, British Colombia, New Brunswick, North West Territories, Saskatchewan, Manitoba, Yukon, British Colombia, Newfoundland and Labrador.
Are there differences between visas for these provinces and territories?
Yes. Each province and territory will have slightly different requirements for submitting performance requirements, business plans and cash deposits.
How Does the System Work?
Each provinces and territory in Canada administers their own visa separately. There are two stages.
You apply or are nominated for a Provincial Nominee Entrepreneur Visa. If they are accepted by the Provinces and Territories, it is the possible to apply for permanent residency via Citizenship and Immigration Canada.
What are the general requirements for the Provincial Nominee Entrepreneur Visa?
These visas will require the following:
- You will be expected to make a personal investment starting at between, $ 150,000 CAD and $500.000 CAD. This could be to expand, purchase or set up a business.
- Your minimum net worth should be at least #350,000 CAD.
- Some provinces and territories will require an initial “goodwill” payment. This will be returned to you.
- Your enterprise should result in new employment for the local population.
- You will need to show that you are actively involved and participating in your business.
- Add any additional net worth to the proposed business, as laid down by the provisions of each individual province or territory.
- You will need to show that you have had personal business and managerial experiences in running a previous business or businesses.
What Does this Visa Give You?
To start with you will gain access to the whole of North America, if you hope to run a fairly large business. The Canadian tax system has special tax measures to encourage business. You will have a highly educated and skilled workforce you can employ. Transportation and communication systems are very good.
For you personally, once you have obtained the Provincial Nominee Entrepreneur Visa, you can go onto applying for permanent residency. With this you can bring your partner or spouse along with a family. You can then have the benefits of the excellent stat back health and education services in Canada.
What Are Specific Examples And What Requirements Do They Have?
To look at one example, British Colombia in more details. British Colombia has three different entrepreneur streams. This includes the new BC PNP Entrepreneur Immigration scheme, Each will have its own requirements .For more help and information on any specific provincial programs, please get in contact with Visa Emperor. British Colombia has a very dynamic and growing economy where there is a lot of potential for any entrepreneur or business person.
In British Colombia the net wealth requirements needed range between $400,000 CAD to $800,000. The investment needed is between $200,000 CAD and $500,000 CAD. You will also need to be granted a Canadian work permit. One of the requirements will be to show that you are no Canadian Citizens or Permanent Residents that can set up this business. You can apply for permanent residency only after you have set up your intended business and you also have a work permit. For more details on any of these points, please get in touch with Visa Emperor.
What are the special requirements that are needed to set up a business in Saskatchewan?
There are three stages in the Saskatchewan Provincial Nominee Entrepreneur Visa. Starting with an Expression of Interest(EOI). This requires the following minimum requirements:
- You must show you have a legally obtained newt worth of at least $500,000 CAD.
- You will need to show that you have had a minimum of three years experience in business or as an entrepreneur.
- Show you can invest at least $300,000 CAD in Regina or Saskatchewan. Alternatively, you can invest $200,000 in another area of Saskatchewan.
The second stage is that you have an invitation to submit your application.
The third stage is that you are then nominated to set up your business.
Part of the process will be entered into a pool along with other candidates. If you gain a high enough score you will be invited to submit an application.
Applicants also need to submit the following information:
- You must submit a Business Establishment Plan. This must confirm the financial details that were in the Expression of Interest. You will also need to show that you intend to take at least a third ownership of a business in Saskatchewan. Unless you show that you intend to invest $1 million CAD or more in the intended business or enterprise
- You must also show that you are committed to the day to day running of the business.
- That you will employ tow or more Canadian citizens or permanent residents of either Saskatchewan or Regina.
What are the differences in another example Manitoba?
This particular Manitoba Business Investment Stream, is designed for experienced international entrepreneurs and business investors. Candidates will be issued with a temporary work permit. You must show that you can successfully take over a business or set up a new enterprise within two years.
There are two main pathways, the Entrepreneur Pathway and the Farm Investor Pathway.
Business Performance Agreement, you will be nominated for permanent residency. You will be given a priority in you intend to work outside of Winnipeg.
Farm Investor Pathway
This follows the same criteria as the previous Entrepreneur Pathway. This is designed for any one wanting to set up and operate a farm in rural Manitoba.
What else do you need to know?
Special conditions will apply to all the different provinces and territories across Canada. This has been a look at just three provinces. They will all have their own particular requirement and conditions. This is especially the case with Quebec Province, where they have their own particular jurisdiction.
You will also be aware that you will need to show language skills in either English or French, A full police record and health check. may also be needed. bf you want to obtain permanent residency.
Will I Get Help?
Yes, Visa Emperor will gladly help you through all the different stages of your visa application.