Economic Classes - Business
For Economic Class - Business, we offer assistance with:
Start-up Class
Self- Employed Persons
Canada invites accomplished business professionals who are in search of new opportunities and challenges. The Business Immigration Program is crafted to promote and simplify the entry of these individuals. Both the federal and provincial/territorial governments extend a warm welcome to business immigrants, providing services to assist them in initiating businesses and establishing a life in Canada.
Start-Up Visa Program - SUV
The Canada Start-up Visa Program is designed for entrepreneurs who possess innovative abilities, can generate employment opportunities for Canadians, and are capable of competing on a global scale. Its objective is to attract individuals who can make significant contributions to the Canadian economy by establishing and expanding businesses across the country, excluding Quebec. This initiative aligns with Canada's objectives of promoting innovation, fostering local job creation, and bolstering international competitiveness. Under this program, a maximum of five applicants can be considered for the same business venture.
To qualify as a member of the start-up business class, you need to fulfill the following conditions:
You should have obtained a Letter of Support which is a support and commitment from one or more designated entities. This commitment must be less than six months old at the time of applying for a permanent resident visa.
You must submit language test results from a designated organization that is less than two years old. The results should show a minimum achievement of level 5 in all four language skill areas in either official language, as per the Canadian Language Benchmarks or the Niveaux de compétence linguistique canadiens.
You should have a qualifying business.
You must have available funds, not tied to debts, equal to half the minimum annual income required to support themselves and their family in urban areas with a population of 500,000 or more.
Important Tip: These funds should not include any investment made by a designated entity into their business.
Optional work permit for the Start-up visa
If you've applied for permanent residence through the Start-Up Visa Program (SUV), you may be eligible for an optional work permit. In such instances, you would need to submit an offer of employment for yourself and apply for the work permit. This permit is solely for entrepreneurs aiming to develop their business in Canada and is exclusive to the Start-up Visa Program. It is valid for one year.When applying for a work permit, you can potentially bring your spouse or common-law partner along with your dependent children. However, you must be able to financially support them and they all need to meet the requirements for temporary residence. Family members joining you can apply for an open work permit if eligible, and dependent children accompanying you can apply for a study permit. It is important to note that each family member needs to complete a separate application for a visitor visa, work permit, or study permit.
You can submit all family applications alongside your work permit application.
Interested to learn more? Click on the + buttons below and keep reading
-
Designated Entity refers to an organization or entity that has been officially recognized or appointed for a specific purpose within a regulatory framework or program. Under the start-up business class program, a designated entity (a designated organization), engages in activities such as making commitments, providing advice, or participating in peer review panels. Designated entities permitted to invest in or assist potential start-ups through the Start-up Visa Program are listed below:
Venture capital funds
Angel investor groups
Business incubators
These organizations independently select which business proposals to evaluate, each having its own process and criteria for assessment. This may involve presenting your business concept in person or submitting a detailed business plan. If an organization opts to review your business idea, it will evaluate its potential for success; and if they decide to support your business, you will receive a Letter of Support.
-
With respect to the language requirement for the Start-Up Visa Program (SUV), a designated organization is an agency approved by IRCC through which you can take any of the following approved language tests:
English:
CELPIP: Canadian English Language Proficiency Index Program. You need to take the CELPIP-General test.
IELTS: International English Language Testing System. You need to take the IELTS General Training test.
PTE Core
French:
TEF Canada: Test d’évaluation de français
TCF Canada : Test de connaissance du français
Be noted that LINC centres (Language Instruction for Newcomers to Canada) are not authorized testing agencies for those applying for a start-up visa.
-
A qualifying business for an Stat-Up Visa applicant is one that:
The applicant actively and continuously manages from within Canada.
An essential part of its operations takes place in Canada.
It is incorporated in Canada.
The ownership structure of the business should comply with specified percentages. This entails that when securing a commitment from a designated organization, each applicant—up to a maximum of five individuals applying as owners—must hold 10% or more of the voting rights associated with all outstanding shares of the corporation at that particular time; and the combined ownership of applicants and the designated organization should exceed 50% of the total voting rights linked to all outstanding shares of the corporation at that specific time.
Exception: A business not meeting all the requirements might still be considered a qualifying business if the applicant intends to fulfill these requirements after obtaining a permanent resident visa.
-
Voting rights means the power a business owner has to vote on company matters. Each share they own allows them to participate in voting when decisions are made.
-
The Canadian Government does not provide financial assistance to new immigrants through the start-up visa program. When submitting your application, you must provide evidence of having sufficient funds to support yourself and your family upon arrival in Canada. It's important to note that you can’t borrow this money from another person. The required amount varies based on the size of your family and may change annually.
Self-Employed
The Self-employed Persons Program is part of the economic immigration category. If you are chosen, this program allows you to permanently move to Canada. A self-employed person is a foreign national with relevant experience who intends and is capable of being self-employed in Canada, making a substantial contribution to specific economic activities.
In this immigration program, the applicant might be:
A self-employed person selected by a province: The relevant experience for a self-employed person selected by a province is determined in accordance with the laws of that specific province.
A self-employed person not selected by a province: Relevant experience, for a self-employed person (excluding those selected by a province), means having a minimum of two years of experience. This timeframe covers the five years before applying for a permanent resident visa, continuing until a decision is reached on the application. The experience criteria vary depending on the field:
Cultural Activities:
Two one-year periods of self-employment in cultural activities,
Two one-year periods of participation at a world-class level in cultural activities, or
A combination of one year of self-employment (A) and one year of world-class participation (B).
Athletics:
Two one-year periods of self-employment in athletics,
Two one-year periods of participation at a world-class level in athletics, or
A combination of one year of self-employment (A) and one year of world-class participation (B).
Purchase and Management of a Farm:
Two one-year periods of experience in the management of a farm. (only provincial, with specific criteria and requirements, and federal backlogged applications are being processed at this time).
Selection Criteria
To assess whether a foreign national, as a member of the self-employed persons class, and their family members can achieve economic establishment in Canada, an officer will consider the following factors:
-
Age contributes a maximum of 10 points to your application. Applicants aged 16 or under and those 54 or above do not receive any points for this factor.
-
Starting from 5 points for completing high school, points are awarded based on the highest educational credential attained, and you cannot combine points from multiple credentials. However, some exceptions may apply.
-
Proficiency in the official languages of Canada, up to a maximum 24 points: You must indicate whether English or French is your first official language in Canada. Proficiency in the chosen language needs to be evaluated by a designated organization (designated institution).
If you wish to claim points for proficiency in your second official language, you must submit an evaluation, conducted by a designated organization or institution, with your application. This evaluation must be less than two years old at the time of application. You’ll be given points based on your ability to listen, speak, read, and write.
You have the option to choose from these accepted language tests:
English:
CELPIP: Canadian English Language Proficiency Index Program. You need to take the CELPIP-General test.
IELTS: International English Language Testing System. You need to take the IELTS General Training test.
PTE Core
French:
TEF Canada: Test d’évaluation de français
TCF Canada : Test de connaissance du français
-
Experience is assessed from the five years before applying for a permanent resident visa (signing your application) until the decision on your application is made. You can earn a starting point of 20 for 2 years of relevant experience.
-
Adaptability, up to a maximum of 6 points on the basis of any combination of the following elements:
3 to 5 points for educational credentials of your spouse or common-law partner
5 points for Previous study in Canada; whether by you or your accompanying spouse or common-law partner, with a valid study permit, completed as full-time study for a duration of at least two years at a post-secondary institution, must have been undertaken after the age of 17. It is not necessary to have obtained a degree or diploma for these two years of study.
5 points for previous work in Canada; whether you, accompanying your spouse or common-law partner have accomplished at least one year of full-time employment in Canada with a valid work permit.
5 points for family relationships in Canada if you or your accompanying spouse or common-law partner have a family member (such as (parent, grandparent, child, grandchild, child of a parent, sibling, child of a grandparent, aunt or uncle, or grandchild of a parent, niece, or nephew) currently residing in Canada as a Canadian citizen or permanent resident.
The maximum possible score is 100,
with the current passing mark set at 35 points,
but it may change.
IMPORTANT UPDATE
Changes to the
Start-up Visa and Self-Employed Persons programs
Starting April 30, 2024, Canada is implementing changes to its business immigration programs to accelerate processing times and reduce application backlogs.
For the Start-up Visa Program:
Only applications for up to 10 start-ups per organization will be accepted annually.
Entrepreneurs with Canadian funding or support from recognized business incubators will receive expedited processing.
For the Self-Employed Persons Program:
Applications will be temporarily paused from April 30, 2024, until the end of 2026, to prioritize processing existing applications.
This pause aims to reduce processing times, which currently exceed four years.
How We Can Help
Start-up Visa (SUV)
To learn how we can assist with your Start-up Visa or Self-Employed in process application considering the recent changes, please contact us to discuss your needs.
