Immigrating to Canada as a Businessowner

This article is posted under Working and Living Abroad

Entrepreneurs are needed in Canada in order to provide more jobs and services for the growing economy.  Foreign business owners and investors may apply for a Canadian visa if they meet the requirements set by the Canadian government.

The requirements for applying as an immigrant investor, entrepreneur, and self-employed persons are different.  For an immigrant investor, you should have a net worth of CA$ 800,000, the required managerial skills and be willing to invest CA$ 400,000 in Canada.  Entrepreneurs should have a new worth of CA$ 300,000 and must be willing to invest in, create, or acquire a business that will help in growing the economy.  Self-employed persons must show proof that they can support themselves and their dependents through their income as an artisan, farmer, or athlete.

Benefits of immigrating to Canada as a businessowner

*  Be permitted to stay in one of the best countries to live (according to the United Nations Human Development Index).

*  Because Canada is very near the United States, you may travel to the US to visit family and friends more often.

*  Stay in country that is open to cultural diversity.

5 steps in applying for Canadian immigrant visa as a business owner

Step 1:  Compile your financial documents that are needed in determining your net worth.

Because you will be migrating as a business owner, you will have to show proof of your financial eligibility.  Prepare the records of your bank deposits, investments, and other assets that are needed in computing your net worth.

Steo 2:  Prepare your business plans in Canada.

In order to qualify as a business owner, you should have concrete plans for the business that you are about to establish in the country.

NOTE:  As much as possible, your business plans should be related to your existing business and business experience.

Step 3:  Learn to or improve speaking in English (for non-native English speakers) and learn some French.

As part of your Canadian visa evaluation, you might be required to take English competency exams and/or French competency exams.  If you are not a native English and/or French speaker, devote some time on improving your language skills.

NOTE:  Taking the International English Language Testing System has a fee of US$170.  The application form may be downloaded for the IELTS website.

Step 4:  Prepare your Canadian Immigration requirements.

Fill out the form for the Application for Permanent Residence in Canada (Form IMM 4000ESAP).  Print the form and sign it.  Determine the Canadian visa office where you will need to submit your application.

NOTE:  The application procedure may slightly vary from one visa office to another.

Step 5:  Submit the requirements at the Canadian visa office

Refer to the specific visa office application procedures.  Mail your application to the visa office and wait for their response.  Using the simplified process for visa application does not require you to send the supporting documents along with your application form.

NOTE:  Be prepared to pay the visa application fees.  You will also be required to get a police clearance and medical certificate.

Canada attracts more than 200,000 migrants every year.  With the continuous migration of foreign business owners to Canada, the economy will grow to provide more opportunities for the locals and the migrant workers.

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