April 23, 2024
Review of Canada’s Business and Investment Immigration Programs – Part Two
Canada welcomes entrepreneurs and business professionals who want to explore new opportunities. The business and investment immigration programs make it easier for these talented individuals to enter the country. Both federal and provincial/territorial authorities actively support business immigrants by offering comprehensive services to help them establish their businesses and integrate into Canadian society. This section of the article focuses on business immigration programs at the provincial and territorial levels.
Provincial/Territorial Business Immigration Programs
There are 11 participating provinces and territories in provincial nominee programs (PNP), including Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Ontario, Prince Edward Island, Saskatchewan and Yukon. All of these provinces and territories operate their own business streams to attract experienced entrepreneurs who wish to own and manage businesses locally. The following chart outlines various business programs offered by different provinces or territories, allowing us to compare these programs side by side.
Summary of Core Selection Criteria for Provincial/Territorial Business Immigration Programs
| Provinces/ Territories | Personal Net Worth | Minimum Investment | Experience |
| Alberta Rural Entrepreneur Stream[1] | $300,000 | $100,000 | 1) 3 years of active business owner/manager experience, or
2) 4 years of senior manager experience within the past 10 years |
| British Columbia Entrepreneur – Base Stream[2] | $600,000 | $200,000 | 1) 3 years of active business owner-manager experience within last 10 years,
2) 4 years of senior manager experience within last 10 years, or 3) A combination of at least one year of active business owner-manager experience and at least 2 years of senior manager experience within last 10 years |
| Manitoba Entrepreneur Pathway[3] | $500,000 | Winnipeg Metropolitan Region: $250,000
Outside of Winnipeg Metropolitan Region: $150,000 |
1) 3 years of active business owner experience in the past 5 years, or
2) 3 years of senior management experience in the past 5 years |
| New Brunswick Business Immigration Stream[4] | $500,000 | $150,000 | 1) business owner for at least 3 out of the last 5 years, or
2) senior manager in 3 out of the last 5 years |
| Nova Scotia Entrepreneur Stream[5] | $600,000
Outside Halifax Regional Municipality (HRM): $400,000 |
$150,000 Outside HRM: $100,000
|
1) 3 years of managing and business ownership experience, or
2) over 5 years of experience in a senior business management role |
| Northwest Territories Business Stream | Within Yellowknife: $500,000
Outside Yellowknife: $250,000 |
Within Yellowknife: $200,000
Outside Yellowknife: $100,000 |
Relevant experience to implement the business plan |
|
Ontario Entrepreneur Stream[6]
|
Effective 4 December 2023, Ontario suspended receiving applications to the Entrepreneur Stream. | ||
|
Prince Edward Island Work Permit Stream
|
$600,000 | N/A | Management skills and past employment or business ownership experience |
|
Quebec Investor Program[7] |
$2,000,000 | $1,200,000 | 2 years of management experience |
| Saskatchewan Entrepreneur Category[8] | $500,000 | Regina and Saskatoon: $300,000
All other Saskatchewan communities: $200,000 |
3 years of business management or entrepreneurial experience in the past 10 years |
| Yukon Business Nominee Program[9] | $500,000 | $300,000 | 3 years of entrepreneurial or business management experience & 5 years of work experience |
| Provinces/ Territories | Education | Language | Job Creation |
| Alberta Rural Entrepreneur Stream | High school | CLB 4 | New businesses: 1 full-time job
Business succession: not required |
| British Columbia Entrepreneur – Base Stream | 1) Post-secondary credential, or
2) active business owner-manager experience with 100% ownership of business for at least 3 of the past 5 years |
CLB 4 | At least 1 full-time equivalent job |
| Manitoba Entrepreneur Pathway | High school | CLB 5 | At least 1 job |
| New Brunswick
Entrepreneurial Stream |
Secondary (high school) education | CLB 5 | At least 1 full-time job |
| Nova Scotia Entrepreneur
Stream |
High school | CLB 5 | At least 1 full-time equivalent job |
| Northwest Territories Business Stream | Relevant education to implement the business plan | CLB 4 | Within Yellowknife: 1 full-time employee and 1 part-time employee
Outside Yellowknife: 1 full-time or 2 part-time employees |
|
Ontario Entrepreneur Stream
|
Effective 4 December 2023, Ontario suspended receiving applications to the Entrepreneur Stream.
|
||
| Prince Edward Island Work Permit Stream | Secondary school | CLB 4 | N/A |
| Quebec Investor Program | Secondary school | Spoken French – Level 7 | N/A |
| Saskatchewan Entrepreneur Category | N/A | CLB 5 | 2 employment opportunities |
| Yukon Business Nominee Program | High school | N/A | N/A |
The Quebec Investor Program is currently the only passive investment-based immigration program in Canada. Otherwise, the selection criteria for provincial nominees under the business streams are similar: they require high personal net worth, investment commitment, and prior business management or entrepreneurial experience. The expectation is that business immigrants will own and actively manage a business in the province or territory.
Compared to other economic programs (such as Federal Skilled Workers and the Canadian Experience Class), business streams typically impose lower language proficiency and education requirements. Selected applicants would first sign a performance agreement and be issued work permits for their entry into the province or territory to set up or take over the business there. If they fulfill all the conditions of the performance agreement, they receive a provincial nomination to apply for permanent residence.
Conclusion
In the 2024-2026 Immigration Levels Plan, the target for admitting individuals to the federal business class (including start-up visa and self-employed person programs) is between 3,500 and 7,000.[10] Despite significant interest from overseas, the Canadian government intends to maintain a relatively small scale of federal business class immigrants.
Due to the small scale of business programs, an increasing number of entrepreneurs and business owners are immigrating to Canada directly through the Federal Skilled Worker Class (FSW). Some may initially enter Canada under an LMIA-exempt or LMIA-based work permit and subsequently apply for the Federal Skilled Worker Class or the Canadian Experience Class (CEC). Compared to the business streams, these applicants must meet higher education and language requirements for the FSW and CEC. Repurposing applicants who are entrepreneurs and business owners into the FSW and CEC could be somewhat effective in addressing the challenges of the existing business programs.
[Sources]