You want to build or buy a business in Canada and immigrate through it. Almost every province and territory has an entrepreneur stream for this, and while the details differ, they follow a similar sequence. Knowing the sequence helps you plan your money, your move and your timeline.
Stage 1: Expression of interest and invitation
Most entrepreneur streams start with an expression of interest: a profile scored on factors such as net worth, investment amount, business experience, language, education, age and the proposed business. The province invites the highest-ranked candidates to apply. Some streams also require an exploratory visit to the region before or after the invitation.
Stage 2: The full application and business plan
After an invitation, you submit a full application with a detailed business plan. Most streams require a third-party verification of your net worth and the source of your funds. This step is where many applications stall: funds that cannot be traced through bank records, tax filings and sale documents will cause problems.
The business plan has to be realistic. Provinces look closely at market research, financial projections, the investment amount, job creation for Canadians or permanent residents, and your personal role in running the business. Passive investment does not qualify.
Many streams include an interview at this stage.
Stage 3: The performance agreement
If the province approves the application, you sign a performance agreement. This sets out what you have committed to: the investment amount, the jobs to be created, the location, your active management role and the deadline to meet them. Some streams also require a refundable deposit.
Everything that follows is measured against this agreement, so read it carefully before signing.
Stage 4: The work permit
The province issues a support letter, and you apply to IRCC for a work permit so you can come to Canada and establish the business. These permits are usually issued under the business owner category in the International Mobility Program. Our post on owner-operator and intra-company transfer work permits explains how they work.
Your spouse and children can usually come with you, with work or study permits depending on the circumstances.
Stage 5: Establishing the business and the final report
You then have a set period, often one to two years, to set up the business and meet the performance agreement. At the end, you submit a final report showing the investment made, the jobs created, your residence in the province and your active management.
If you fall short, some provinces allow extensions or amendments. Others do not. Keep records from day one.
Stage 6: Nomination and permanent residence
If the final report is accepted, the province nominates you. You then apply to IRCC for permanent residence. IRCC reviews admissibility, medicals and security, and can refuse a nominee even after the province approves. Our post on nominations refused by IRCC covers that situation.
Choosing a stream
Streams differ on minimum investment, net worth, regional requirements, whether you can buy an existing business, and how long you have to perform. Our business immigration guides summarize the individual provincial streams. For the choice between buying and starting a business, see our post on buying an existing business or starting a new one.
How we can help
At Kabir & Alam, we help entrepreneurs choose a stream, prepare the application and source-of-funds evidence, review performance agreements, and handle the work permit and permanent residence stages. Read more about our business immigration practice or book a consultation with us.
This post is general information about Canadian immigration law and is not legal advice. Every case turns on its own facts. Speak with a lawyer about your situation before making decisions.