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 creates 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 labor 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 participate 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 ranges 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:
|Minimum Net Worth||Minimum Investment||Exploratory Visit|
|British Columbia||$800,000 CAD [Vancouver and Abbotsford area]
$400,000CAD [Outside Vancouver and Abbotsford area]
|$400,000 CAD and ownership in more than 33.33% of the business [Vancouver and Abbortsford area]
$200,000 CAD and ownership in more than 33.33% of the business [Outside Vancouver and Abbotsford area]
|Manitoba||$350,000 CAD||$150,000 CAD and ownership in more than 33.33% of the business,
OR $1,000,000 CAD
|Saskatchewan||$300,000 CAD||$150,000 CAD and ownership in more than 33.33% of the business,
OR $1,000,000 CAD
|Only compulsory if in the Farm Owners/Operators Stream, otherwise recommended|
|Ontario||N/A||$3,000,000 CAD and ownership in more than 33.33% of the business,
OR $1,000,000 CAD
|New Brunswick||$300,000 CAD||$125,000 CAD||Yes, minimum 5 business days|
|Prince Edward Island||$600,000 CAD||$150,000 CAD and ownership in more than 33.33% of the business,
|Yukon||$250,000 CAD [minimum $150,000 CAD in liquid assets]||$150,000 CAD and ownership in more than 33.33% of the business,
OR $1,000,000 CAD in an industry on the Strategic Sectors List
|Northwest Territories||$500,000 CAD [if business is in Yellowknife]
$250,000 CAN [if business is outside of Yellowknife]
|$300,000 CAD [if business is in Yellowknife]
$150,000 CAN [if business is outside of Yellowknife]
NOTE: The minimum net worth and investment cutoffs in the above table are valid as of May 2014.
To find out if you qualify for business immigration under the PNP and to learn how FWCanada can help you with your application, fill out our free assessment form.