Canada Investment Visas Compared: Criteria & Benefits in 2024

For people all around the world, gaining residency in Canada is a dream. The good news is that it can be achieved through investment. The Canada investment visa offers various avenues for entrepreneurs and investors.

So, let’s take a look at the qualifications, costs, and application steps within popular programs like Quebec’s Immigrant Investor Program and the Start-Up Visa. Your Canadian citizenship or residency may be closer than you think.

Key Takeaways

• Canada offers various investment visa programs such as the Quebec Immigrant Investor Program, the Start-Up Visa, and Provincial Nominee Programs. Each offers distinct pathways to permanent residency and eventual Canadian citizenship.
• Investment visa programs require compliance with specific investment thresholds, such as a minimum investment, and require documentation, business planning, and meeting language and financial requirements.
• Investors can secure Canadian citizenship by living in Canada for three out of five years as permanent residents, meeting management experience criteria, possessing legally obtained assets worth 2,000,000 CAD, and fulfilling language and educational prerequisites.

Exploring the Canada Investment Visa Landscape

As an investor, you’ll find a variety of options at your disposal in Canada. Investment visa programs are uniquely designed to attract foreign business owners, investors, entrepreneurs, startups, and self-employed individuals.

Each program has its own requirements and benefits that are tailored to its target applicants. From the Quebec Immigrant Investor Program to the Start-Up Visa and Provincial Nominee Programs, each one offers a unique pathway to permanent residency and eventual citizenship.

These programs are constantly changing as global business changes. One example is the Start-Up Visa Program, which focuses on attracting global entrepreneurial talent to enhance innovation and stimulate economic growth in Canada. This program is designed to encourage the entry of innovative and talented individuals who can contribute to the country’s entrepreneurial landscape.

Another example is the Provincial Nominee Programs allow investors to contribute to local economies and aim for permanent residence in various Canadian regions.

Key Investment Visa Programs

The principal investor visas in Canada include the Quebec Immigrant Investor Program, the Start-Up Visa, and the Provincial Nominee Programs.

The Start-Up Visa Program requires immigrant entrepreneurs to receive a minimum investment of $200,000 from designated venture capital funds or be supported by designated organizations like venture capital funds, angel investors, or business incubators to obtain a letter of support.

Quebec offers the Entrepreneur Program, which facilitates the start and operation of an innovative business in the province.

Provincial Nominee Programs enable foreign nationals to obtain Canadian permanent residency by investing in businesses or creating jobs within those provinces.

Investment Thresholds

The investment requirements for these programs vary significantly.

The Quebec Investor Program requires a minimum investment of CAD $1.2 million for a five-year period.

The Provincial Nominee Programs have varying investment requirements such as $200,000 or $300,000 in Saskatchewan, $150,000 or $250,000 in Manitoba, and $50,000 or $100,000 in Alberta.

Applicants must provide detailed financial proof to demonstrate they have sufficient funds to support themselves and their families after arriving in Canada, including preparing for settlement costs.

Pathway to Permanent Residency

Most investors are actually looking for a pathway to permanent residency. The Start-up Visa Program provides a direct route for permanent residence for entrepreneurs with high-potential startups.

Once you’ve obtained your visa, it’s essential to maintain accurate records of your business activities. Not only is this necessary for renewal purposes, but it also plays a crucial role in your application for permanent residency.

In most cases, applications that are under investment visa programs such as the Startup Visa generally take about thirty-three months to be processed.

The Path to Canadian Citizenship Through Investment

While obtaining permanent residency is a significant milestone in the Canadian immigration journey, the ultimate goal for most investors is to gain Canadian citizenship. As a Canadian citizen, you’ll have the right to:

• vote in federal, provincial, territorial, and municipal elections
• run for political office
• apply for a Canadian passport
• access government benefits and programs
• have protection under Canadian law

To be eligible for Canadian citizenship through investment, individuals must meet certain requirements. One popular pathway is the “citizenship by investment” program which requires the following:

• Management experience
• Spend time in Canada
• Assets worth 2,000,000 CAD that are legally obtained
• Language and education requirements

Investors living in Canada for at least three out of five years as permanent residents can apply for Canadian citizenship, providing they meet the residency requirements of 1,095 days within the timeframe.

Requirements for Citizenship

To become a Canadian citizen, applicants must have lived in Canada for at least 1,095 days within the five years prior to their application. In addition, the applicant needs to have resided in Canada for three years, with a minimum of 183 days spent there each year.

Proficiency in English and/or French is also a requirement. The language proficiency must be proven by submitting test results from a designated language testing organization, and the results must not be more than two years old at the time of application submission.

From Permanent Residence to Citizenship

The journey from permanent residence to citizenship is a significant step in the immigration process. By becoming a Canadian citizen, you will have all the rights of a natural-born Canadian.

Business Immigration: Fueling the Canadian Economy

Business immigrants significantly contribute to the Canadian economy by boosting innovation, creating jobs, and driving economic growth. From tech sectors to small local businesses, immigrant entrepreneurs have been essential in stimulating Canada’s economic growth. This is one reason why this program is so highly supported by the government.

Beyond the individual businesses they create, immigrant investors also make direct investments in Canadian companies. This creates a positive cycle of growth, leading to more job opportunities and a more robust Canadian economy.

Economic Impact of Business Immigrants

Business immigrants have made a significant impact on the Canadian economy, owning 33% of businesses with paid staff in Canada. Also, of the more than 600,000 self-employed immigrants in Canada, over 260,000 of these entrepreneurs have paid staff, boosting the economy and employment even further.

Success Stories

There are numerous success stories of immigrant entrepreneurs who have thrived in Canada. For instance, Peter Tielmann, a German immigrant, established EQ3, a Canadian manufacturing company that produces furniture. Karim Hakimi, from Iran, founded Hakim Optical, which grew into a prominent retail chain with 161 stores across Canada.

Ajay Virmani, an immigrant from India, became the CEO of Cargojet, Canada’s top cargo airline, and was integral in distributing personal protection equipment during the COVID-19 pandemic. These stories highlight the potential for success and impact that immigrant entrepreneurs can continue to have in Canada.

Investment Opportunities for Foreign Entrepreneurs

Canada’s investment visa programs offer a wealth of opportunities for foreign entrepreneurs looking to invest and expand their businesses in a thriving and welcoming economy. Designated organizations such as venture capital funds, angel investor groups, and business incubators provide support through the Start-up Visa Program, helping entrepreneurs succeed.

Venture Capital Funds

Venture capital funds play a significant role in supporting immigrant entrepreneurs in Canada. There are 28 designated venture capital funds in Canada eligible to invest in immigrant entrepreneurs under the Start-Up Visa (SUV) program.

A qualifying Canadian start-up business must secure a commitment from a designated venture capital fund for participation in the SUV program. By securing this commitment, the success of an immigrant entrepreneur’s business is almost assured.

Business Incubator Programs

Business incubator programs offer support such as mentorship, office space, and financial services. These programs help entrepreneurs navigate the challenges of starting a business in a new country.

To qualify for the Start-up Visa program in Canada, entrepreneurs must present an innovative, scalable, and revenue-generating business proposal that can secure support from a designated organization.

Acquiring or Starting a New Business

Foreign entrepreneurs also have the option to start a business in Canada. By engaging a Canadian director and adhering to Investment Canada Act guidelines, it is possible to enter the Canadian market without having to relocate.

Starting or registering a business in Canada as a non-resident can be difficult, and the rules are different across Canadian provinces and territories. Certain provinces like British Columbia allow 100% foreign ownership of a business, whereas other regions do not.

Navigating the Application Process for Canada Investment Visas

The application process for the Canada Investment Visa can be complex. It requires careful planning, attention to detail, and thorough preparation. In this section, we will try to guide you through the application process so you can complete it with ease and confidence.

You will need to secure a Letter of Support from a Designated Organization as well as meet language and financial requirements. Each investor visa program has its own set of requirements and procedures. For instance, the Saskatchewan Immigrant Nominee Program (SINP) for entrepreneurs involves a process that starts with an Expression of Interest, leading to application submission, business establishment, and nomination.

Building a Business Proposal

A strong business proposal is an important part of your application. It should show your commitment to establishing a viable business in Canada and your ability to contribute to the Canadian economy. You will then need to secure support from a designated organization in Canada.

A qualifying business must secure a minimum investment of either $200,000 from a designated venture capital fund or $75,000 from a designated angel investor group to meet the requirements.

Documentation and Legalities

Documentation that is required includes evidence to support your financial status, business operations, and management experience. Immigration, Refugees and Citizenship Canada (IRCC) requires applicants to submit a detailed Commitment Certificate and Letter of Support from the designated entity as part of the agreements.

Investors must also demonstrate a genuine commitment to executing their business plan, which may include:

• Securing a lease
• Purchasing a business
• Acquiring necessary equipment
• Hiring staff

In other words, your business must be real and you must follow through with it once you arrive.

Family Inclusion in Investment Visa Applications

Canada’s investment visa programs welcome the principal applicant, as well as his or her spouse or common-law partners. Dependent children may receive study permits or temporary residence permits, allowing them to work, study, and live in Canada. This means that while you grow your business in Canada, your family can enjoy the benefits of living, studying, and working.

In the Canada Start-Up Visa Program, the applicant can include their spouse and dependent children who are 21 years of age and younger. Their residence will enable them to utilize the Canadian education system and other social benefits. Investors and their families can transition to Canadian permanent residence and eventually citizenship through participation in investment visa programs such as the Canada SUV program.

Spouses and Children

Dependent children can be sponsored under the investor visa program provided they are unmarried and under 22 years old. If they are over 22, they must be unable to support themselves due to a physical or mental condition.

For spousal or common-law partner sponsorship, the relationship must be able to be proven as genuine with supporting documentation to be eligible under the investor visa program.

Temporary Residence Permit

For dependent children of investor visa applicants who do not qualify for a study permit, there is the option of obtaining a temporary residence permit. This allows children to accompany their parents to Canada and live in the country while their parents work.

Investment Visa Compliance: Maintaining Status and Meeting Obligations

While obtaining an investment visa is an important milestone, it is also vital to remember that maintaining your visa status doesn’t end there. You will be required to:

• Adhere to the stipulated business performance agreements
• Meet all renewal and reporting requirements
• Maintain a viable business
• Apply for a Labour Market Impact Assessment (LMIA) as part of the Business Performance Agreement
• Show that the business will not negatively impact the Canadian labor market

Upon arrival in Canada, the initial status provided to a business immigrant is a work permit. This work permit is typically valid for two years. Investors can then apply for an extension of their work permit to continue their business efforts in Canada.

Adhering to Business Performance Agreements

Holders of investment visas in Canada are required to adhere to business performance agreements as a key condition of their visa program. This involves providing evidence of a financial investment in the business and ensuring that your business activities are in line with the specific requirements of your chosen business immigration program.

Advantages of Securing a Canadian Investment Visa

Securing a Canadian investment visa offers the following benefits for foreign entrepreneurs:

• A pathway to permanent residency and eventual citizenship
• Access to the Canadian marketplace
• Favored for permanent residency and citizenship

One of the most significant advantages of obtaining Canadian citizenship is visa-free travel. The Canadian passport is ranked sixth in the world for travel freedom. It offers access to 119 countries visa-free, 26 through visa-on-arrival, and 38 via e-visa entry.

Market Access and Business Growth

Canada’s investment visa program also provides a platform for businesses to gain access to the North American market. The Canadian market offers strategic geographic advantages due to its large border with the United States.

In addition, Canada’s participation in trade agreements such as NAFTA/USMCA with the US and Mexico and CETA with the EU enhances market access for Canadian businesses.

Provincial Spotlight: Tailored Investor Programs Across Canada

Canada’s provinces offer a diverse range of investor programs. The Provincial Nominee Programs (PNP) offer customized immigration paths for investors to settle permanently in various parts of Canada.

British Columbia’s PNP includes the Entrepreneur Immigration stream, along with the Regional Pilot Program for starting businesses in small regional communities.

Alberta’s AAIP provides entrepreneur streams for investors interested in starting or buying a business within the province.

Saskatchewan’s SINP requires a minimum investment between CAD 200,000 to CAD 300,000 depending on the region.

Manitoba’s MPNP Entrepreneur Pathway targets those aiming to start or purchase businesses locally.

Provincial Nominee Programs

Provincial Nominee Programs enable Canadian provinces and territories to nominate immigrants based on their economic needs. Successful nominees may then apply for permanent residence.

British Columbia offers the BC PNP Entrepreneur Immigration Streams. This program includes categories for starting or purchasing a business in the province as a pathway to obtaining permanent residence in Canada.

Nova Scotia has the NSNP International Graduate Entrepreneur Category for graduates who have operated their business in the province for at least a year.

Manitoba’s Business Investor Stream provides two investment immigration pathways for overseas business owners and investors who are seeking citizenship.

Preparing for Medical and Security Clearances

You will need to pass medical and security clearances to obtain your visa. The results of the medical exam are valid for 12 months, and if the application processing exceeds this period, reexamination may be necessary.

Health Assessments

Medical exams for permanent residence applicants, including those under the Start-up Business Class, must only be conducted by a physician from the list of panel physicians. Personal doctors are not permitted to perform the exam.

Applicants will be provided instructions on how to proceed with their medical exam after their application has been submitted. The cost of medical examinations differs by country so applicants should verify the expense with the designated panel physician.

Background Checks

Applicants who are 18 years or older must undergo security clearance to ensure they do not pose any security risks, such as criminal inadmissibility. This involves providing recent Police Clearance Certificates from all countries where the applicant has lived for six months or more after the age of 18.

Transitioning from Investment Visa to Permanent Resident

After securing an investment visa and establishing a successful business in Canada, the next step for most investors is to transition to permanent residency. To be eligible for permanent residency, investment visa holders must receive a Letter of Support from a designated entity and meet language proficiency and settlement funds requirements.

Each investor visa program has its own set of requirements and procedures. For instance, the Saskatchewan Immigrant Nominee Program (SINP) for entrepreneurs involves a process that includes the following steps:

1. Expression of Interest
2. Application submission
3. Business establishment
4. Nomination

Express Entry and Provincial Nominee Program

To apply for the Start-up Business Class, applicants must:

• Submit a digital application form
• Provide a Letter of Support from a designated entity
• Prove language proficiency
• Provide evidence of sufficient settlement funds.

Following provincial nomination under the Provincial Nominee Program, nominees must apply to Immigration, Refugees, and Citizenship Canada to pursue permanent residency.

Long-Term Planning

Long-term planning is crucial for investment visa holders to achieve permanent resident status in Canada. Investors with two years of work experience in Canada have the opportunity to apply for permanent residence. In addition, individuals on an Intra-Company transfer can utilize the detailed guide available to navigate their transition to permanent resident status in Canada.

Summary

Obtaining Canadian citizenship through investment is a difficult process. It requires careful planning, strategic investment, and a commitment to fulfilling all obligations. Whether you’re interested in venture capital funds or provincial nominee programs, the opportunities for foreign entrepreneurs in Canada are vast and varied.

As a foreign investor in Canada, you are not only investing in a business but also in Canada itself. By securing a Canadian investment visa, you will be opening up a world of business potential, and prosperity seen in few countries.

Frequently Asked Questions

What are the main investment visa programs in Canada?

The main investment visa programs in Canada include the Quebec Immigrant Investor Program, the Start-Up Visa, and the Provincial Nominee Programs.

What are the requirements for obtaining Canadian citizenship through investment?

To obtain Canadian citizenship through investment, you need management experience, time in Canada, 2,000,000 CAD in legally obtained assets, and the ability to meet language and education criteria.

What are the benefits of securing a Canadian investment visa?

Securing a Canadian investment visa offers a pathway to permanent residency and eventual citizenship, access to the Canadian marketplace, and visa-free travel to multiple countries.

What are the necessary steps to transition from an investment visa to permanent residency?

To transition from an investment visa to permanent residency, you need to secure a Letter of Support from a designated entity, meet language proficiency and settlement funds requirements, and submit a complete application.

What are the requirements for including family members in investment visa applications?

To include family members in an investment visa application, the applicant may include their spouse and dependent children who are 21 years of age and younger. The principal investor’s spouse or common-law partners are eligible for open work permits, while dependent children may receive study permits or temporary residence permits.